Cornerstone Community Bancorp Stock Forecast

Cornerstone Community Bancorp stock price ended at $29.08 on Friday, after losing 0%.
(Updated on May 31, 2024)

CRSB Signals & Forecast

Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Cornerstone Community Bancorp 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 $29.15 and $29.23. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 07, 2024, and so far it has fallen -1.42%. 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).

Buy

Special Signal Notification

Double Bottom Formation

A buy signal from a double bottom formation was found on Thursday, March 28, 2024 and based on theory for this formation the price should go up by 3.21% to $30.01 within 3 trading days since signal was issued (Monday, June 03, 2024).

Support, Risk & Stop-loss for Cornerstone Community Bancorp stock

Cornerstone Community Bancorp finds support from accumulated volume at $29.01 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0 between high and low, or 0%. For the last week the stock has had daily average volatility of 0%.

Our recommended stop-loss: $27.38 (-5.85%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 66 days ago.)

Trading Expectations (CRSB) For The Upcoming Trading Day Of Monday 3rd

For the upcoming trading day on Monday, 3rd we expect Cornerstone Community Bancorp to open at $29.08, and during the day (based on 14 day Average True Range), to move between $29.00 and $29.16, which gives a possible trading interval of +/-$0.0796 (+/-0.27%) up or down from last closing price. If Cornerstone Community Bancorp takes out the full calculated possible swing range there will be an estimated 0.55% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $29.01 (0.24%) than the resistance at $29.20 (0.41%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Cornerstone Community Bancorp stock A Buy?

Cornerstone Community Bancorp holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.000 Hold/Accumulate Unchanged

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Cornerstone Community Bancorp of Monday, June 3, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.