Community Trust Bancorp Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Green day on Wednesday for Community Trust Bancorp
(Updated on Apr 24, 2024)
The Community Trust Bancorp stock price gained 0.93% on the last trading day (Wednesday, 24th Apr 2024), rising from $42.94 to $43.34. It has now gained 6 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 2.43% from a day low at $42.43 to a day high of $43.46. The price has risen in 7 of the last 10 days and is up by 7.92% over the past 2 weeks. Volume fell on the last day by -15 thousand shares and in total, 39 thousand shares were bought and sold for approximately $1.70 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock has broken the wide and horizontal trend up. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately. $42.80 is considered to be a "second chance" to hit a potential runner. It is, however, important that volume does follow the price as false breaks may appear and it may move back into the horizontal trend. Based on the rectangle-formation theory the stock is predicted to reach $46.75 sometime during the next 3 months.
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CTBI Signals & Forecast
The Community Trust Bancorp stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $41.42 and $40.77. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 9.75%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Community Trust Bancorp stock
Community Trust Bancorp finds support from accumulated volume at $41.50 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 $1.03 between high and low, or 2.43%. For the last week, the stock has had daily average volatility of 2.97%.
Since the Community Trust Bancorp has been rising for 6 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Our recommended stop-loss: $41.96 (-3.18%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (CTBI) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Community Trust Bancorp to open at $43.08, and during the day (based on 14 day Average True Range), to move between $42.35 and $44.33, which gives a possible trading interval of +/-$0.99 (+/-2.29%) up or down from last closing price. If Community Trust Bancorp takes out the full calculated possible swing range there will be an estimated 4.57% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $41.50, some $1.84 (4.25%) from the current price of $43.34, our system finds the risk reward attractive.
Is Community Trust Bancorp stock A Buy?
Several short-term signals are positive and the stock has broken the horizontal trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for Community Trust Bancorp stock to perform well in the short-term period.
Current score: 2.821 Buy Candidate Unchanged
Predicted Opening Price for Community Trust Bancorp of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $43.08 ( 0.608%) | $43.34 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CTBI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 44.11 | 1.77 % | |
| R2 | 43.71 | 0.86 % | ||
| R1 | 43.47 | 0.300 % | ||
| Current price: | 43.34 | |||
| Support | S1 | 42.68 | -1.52 % | |
| S2 | 42.44 | -2.08 % | ||
| S3 | 42.05 | -2.98 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 43.34 | |||
| Support | S1 | 41.50 | -4.25% | |
| S2 | 39.28 | -9.37% | ||
| S3 | 39.16 | -9.64% |
CTBI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 09, 2024 | Mar 14, 2024 | Apr 01, 2024 | $0.460 | 1.10% |
| 2 | Oct 24, 2023 | Dec 14, 2023 | Jan 02, 2024 | $0.460 | 1.05% |
| 3 | Jul 26, 2023 | Sep 14, 2023 | Oct 01, 2023 | $0.460 | 1.34% |
| 4 | Apr 25, 2023 | Jun 14, 2023 | Jul 03, 2023 | $0.440 | 1.21% |
| 5 | Jan 24, 2023 | Mar 14, 2023 | Apr 01, 2023 | $0.440 | 1.16% |
FAQ
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