Red day on Friday for Community Trust Bancorp stock after losing 1.53%
(Updated on Dec 03, 2021)
Sell candidate since 2021-12-03 PDF
The Community Trust Bancorp stock price fell by -1.53% on the last day (Friday, 3rd Dec 2021) from $43.17 to $42.51. During the day the stock fluctuated 2.08% from a day low at $42.29 to a day high of $43.17. The price has fallen in 7 of the last 10 days and is down by -4.81% for this period. Volume has increased on the last day by 51 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, 77 thousand shares were bought and sold for approximately $3.27 million.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $42.22 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 10.81% during the next 3 months and, with a 90% probability hold a price between $46.79 and $52.37 at the end of this 3-month period.
Signals & Forecast
There are few to no technical positive signals at the moment. The Community Trust 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 $42.67 and $44.00. 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 -7.28%. 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
Community Trust Bancorp finds support from accumulated volume at $42.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.88 between high and low, or 2.08%. For the last week, the stock has had a daily average volatility of 2.95%.
Our recommended stop-loss: We hold an negative evaluation for this stock. No stop-loss is set.
Is Community Trust Bancorp stock A Buy?
The Community Trust Bancorp stock holds several negative signals and despite the positive trend, we believe Community Trust Bancorp will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -4.029
Predicted Opening Price for Community Trust Bancorp of Monday, December 6, 2021
The predicted opening price is based on yesterday's movements between high, low, and the closing price.
|Fair opening price December 6, 2021||Current price|
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Piper Sandler is very positive about CTBI and gave it a "Neutral - Overweight" rating on Dec 09, 2020. The price target was changed from $32.00 to $41.00.
CTBI Insider Trading
|Nov 26, 2021||Buy||500||Baird Charles J||Common Stock|
|Nov 22, 2021||Sell||5 000||Draughn James B||Common Stock|
|Nov 09, 2021||Buy||500||Baird Charles J||Common Stock|
|Nov 08, 2021||Sell||500||Gartner James J||Common Stock|
|Oct 25, 2021||Sell||280||Waters Andy D||Common Stock|
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