Columbia Banking System stock downgraded to Sell Candidate
(Updated on Nov 26, 2021)
Sell candidate since 2021-11-26 PDF
The Columbia Banking System stock price fell by -4.92% on the last day (Friday, 26th Nov 2021) from $34.38 to $32.69. and has now fallen 3 days in a row. During the day the stock fluctuated 4.38% from a day low at $31.95 to a day high of $33.35. The price has fallen in 8 of the last 10 days and is down by -9.77% for this period. Volume has increased on the last day by 193 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 599 thousand shares were bought and sold for approximately $19.58 million.
The stock is at the lower part of a wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $32.49 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Columbia Banking System stock with a 90% probability to be traded between $31.90 and $39.23 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
Signals & Forecast
There are few to no technical positive signals at the moment. The Columbia Banking System stock holds sell signals from both short and long-term moving averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $34.15 and $35.31. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, November 05, 2021, and so far it has fallen -10.54%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $1.40 between high and low, or 4.38%. For the last week, the stock has had a daily average volatility of 2.71%.
Columbia Banking System is oversold on RSI14 (13). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: We hold an negative evaluation for this stock. No stop-loss is set.
Is Columbia Banking System stock A Buy?
Columbia Banking System holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.156
Predicted Opening Price for Columbia Banking System of Monday, November 29, 2021
The predicted opening price is based on yesterday's movements between high, low, and the closing price.
|Fair opening price November 29, 2021||Current price|
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On Nov 01, 2021 "Raymond James" gave "$43.00 - $40.00" rating for COLB. The price target was set to $34.86+2.1%.
COLB Insider Trading
|Jul 06, 2021||Buy||304||Baruffi Kumi Yamamoto||Common|
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|Jul 06, 2021||Buy||711||Deer Aaron James||Common|
|May 26, 2021||Buy||1 669||Eerkes Craig D||Common|
|May 26, 2021||Buy||1 669||Elsaesser Ford||Common|
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