Glen Burnie Bancorp Stock Forecast
Glen Burnie Bancorp stock downgraded to Sell Candidate
(Updated on May 02, 2024)
The Glen Burnie Bancorp stock price gained 3.61% on the last trading day (Thursday, 2nd May 2024), rising from $4.99 to $5.17. During the last trading day the stock fluctuated 8.66% from a day low at $4.85 to a day high of $5.27. The price has fallen in 6 of the last 10 days but is still up by 1.37% over the past 2 weeks. Volume fell on the last day by -3 thousand shares and in total, 2 thousand shares were bought and sold for approximately $9.47 thousand. 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 lies the upper part of a falling 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 $5.18 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -28.13% during the next 3 months and, with a 90% probability hold a price between $3.43 and $3.72 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
GLBZ Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 4.66%. Further rise is indicated until a new top pivot has been found. 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. The Glen Burnie Bancorp stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $5.33. On a fall, the stock will find some support from the short-term average at $5.11. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Glen Burnie Bancorp stock
Glen Burnie Bancorp finds support from accumulated volume at $5.17 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 controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the stock. During the last day, the stock moved $0.420 between high and low, or 8.66%. For the last week the stock has had daily average volatility of 6.08%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GLBZ) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Glen Burnie Bancorp to open at $5.10, and during the day (based on 14 day Average True Range), to move between $4.95 and $5.39, which gives a possible trading interval of +/-$0.215 (+/-4.17%) up or down from last closing price. If Glen Burnie Bancorp takes out the full calculated possible swing range there will be an estimated 8.33% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $5.17 (0.08%) than the resistance at $5.26 (1.74%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Glen Burnie Bancorp stock A Buy?
Glen Burnie Bancorp holds several negative signals and we believe that 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: -1.782 Sell Candidate Downgraded
Predicted Opening Price for Glen Burnie Bancorp of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $5.10 ( 1.42%) | $5.17 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GLBZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.52 | 6.70 % | |
| R2 | 5.36 | 3.60 % | ||
| R1 | 5.26 | 1.68 % | ||
| Current price: | 5.17 | |||
| Support | S1 | 4.94 | -4.52 % | |
| S2 | 4.84 | -6.44 % | ||
| S3 | 4.68 | -9.54 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.28 | 21.37 % | |
| R2 | 5.30 | 2.51 % | ||
| R1 | 5.26 | 1.74 % | ||
| Current price | 5.17 | |||
| Support | S1 | 5.17 | -0.0754% | |
| S2 | 5.03 | -2.71% | ||
| S3 | 4.99 | -3.48% |
GLBZ Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 12, 2024 | Apr 19, 2024 | May 06, 2024 | $0.100 | 1.93% |
| 2 | Jan 11, 2024 | Jan 19, 2024 | Feb 05, 2024 | $0.100 | 1.43% |
| 3 | Oct 12, 2023 | Oct 20, 2023 | Nov 06, 2023 | $0.100 | 1.81% |
| 4 | Jul 13, 2023 | Jul 21, 2023 | Aug 07, 2023 | $0.100 | 1.27% |
| 5 | Apr 13, 2023 | Apr 21, 2023 | May 08, 2023 | $0.100 | 1.26% |
FAQ
Click here for our free guide on how to buy Glen Burnie Bancorp Stock.
