Community Trust Bancorp Stock Forecast
Red day on Friday for Community Trust Bancorp stock after losing 0.304%
(Updated on Apr 26, 2024)
The Community Trust Bancorp stock price fell by -0.304% on the last day (Friday, 26th Apr 2024) from $42.77 to $42.64. During the last trading day the stock fluctuated 1.14% from a day low at $42.49 to a day high of $42.97. The price has risen in 6 of the last 10 days and is up by 6.44% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -7 thousand shares and in total, 31 thousand shares were bought and sold for approximately $1.32 million.
The stock lies in the upper part of a wide and weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $43.38 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 2.72% during the next 3 months and, with a 90% probability hold a price between $40.21 and $44.56 at the end of this 3-month period.
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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 $42.32 and $40.89. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, April 24, 2024, and so far it has fallen -1.62%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.485 between high and low, or 1.14%. For the last week the stock has had daily average volatility of 2.12%.
Our recommended stop-loss: $40.75 (-4.44%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (CTBI) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Community Trust Bancorp to open at $42.70, and during the day (based on 14 day Average True Range), to move between $41.68 and $43.60, which gives a possible trading interval of +/-$0.96 (+/-2.24%) up or down from last closing price. If Community Trust Bancorp takes out the full calculated possible swing range there will be an estimated 4.48% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $42.65 (0.02%) than the support at $41.50 (2.67%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Community Trust Bancorp stock A Buy?
Several short-term signals, along with a general good trend, are positive and 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.
Current score: 3.328 Buy Candidate Unchanged
Predicted Opening Price for Community Trust Bancorp of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $42.70 ( 0.137%) | $42.64 |
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 | 43.18 | 1.27 % | |
| R2 | 43.00 | 0.84 % | ||
| R1 | 42.88 | 0.571 % | ||
| Current price: | 42.64 | |||
| Support | S1 | 42.51 | -0.298 % | |
| S2 | 42.40 | -0.566 % | ||
| S3 | 42.21 | -1.00 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 43.34 | 1.64 % | |
| R2 | 42.94 | 0.704 % | ||
| R1 | 42.65 | 0.0235 % | ||
| Current price | 42.64 | |||
| Support | S1 | 41.50 | -2.67% | |
| S2 | 39.28 | -7.88% | ||
| S3 | 39.16 | -8.16% |
CTBI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 23, 2024 | Jun 14, 2024 | Jul 01, 2024 | $0.460 | 1.08% |
| 2 | Mar 09, 2024 | Mar 14, 2024 | Apr 01, 2024 | $0.460 | 1.10% |
| 3 | Oct 24, 2023 | Dec 14, 2023 | Jan 02, 2024 | $0.460 | 1.05% |
| 4 | Jul 26, 2023 | Sep 14, 2023 | Oct 01, 2023 | $0.460 | 1.34% |
| 5 | Apr 25, 2023 | Jun 14, 2023 | Jul 03, 2023 | $0.440 | 1.21% |
FAQ
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