International Bancshares Corporation Stock Forecast
Green day on Tuesday for International Bancshares Corporation
(Updated on Jul 02, 2024)
The International Bancshares Corporation stock price gained 0.99% on the last trading day (Tuesday, 2nd Jul 2024), rising from $57.77 to $58.34. It has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.04% from a day low at $57.71 to a day high of $58.89. The price has risen in 8 of the last 10 days and is up by 6.67% over the past 2 weeks. Volume fell on the last day by -141 thousand shares and in total, 196 thousand shares were bought and sold for approximately $11.42 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 is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect International Bancshares Corporation stock with a 90% probability to be traded between $54.99 and $62.25 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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IBOC Signals & Forecast
Mostly positive signals in the chart today. The International Bancshares Corporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $56.48 and $56.70. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has risen 8.22%. 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). 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.
Support, Risk & Stop-loss for International Bancshares Corporation stock
International Bancshares Corporation finds support from accumulated volume at $57.21 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 $1.18 between high and low, or 2.04%. For the last week the stock has had daily average volatility of 2.20%.
Our recommended stop-loss: $56.57 (-3.03%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 32 days ago.)
Trading Expectations (IBOC) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect International Bancshares Corporation to open at $58.31, and during the day (based on 14 day Average True Range), to move between $57.13 and $59.55, which gives a possible trading interval of +/-$1.21 (+/-2.08%) up or down from last closing price. If International Bancshares Corporation takes out the full calculated possible swing range there will be an estimated 4.16% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $58.38 (0.07%) than the support at $57.21 (1.94%), 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 International Bancshares Corporation stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for International Bancshares Corporation stock to perform well in the short-term period.
Current score: 3.238 Buy Candidate Unchanged
Predicted Opening Price for International Bancshares Corporation of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $58.31 ( 0.0457%) | $58.34 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IBOC
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 59.49 | 1.98% |
| R2 | 59.04 | 1.20% |
| R1 | 58.76 | 0.727% |
| Price | 58.34 | |
| S1 | 57.86 | -0.82% |
| S2 | 57.58 | -1.30% |
| S3 | 57.13 | -2.07% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 59.86 | 2.61% |
| R2 | 59.42 | 1.85% |
| R1 | 58.38 | 0.0686% |
| Price | 58.34 | |
| S1 | 57.21 | -1.94% |
| S2 | 55.03 | -5.67% |
| S3 | 54.42 | -6.72% |
IBOC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 31, 2024 | Feb 14, 2024 | Feb 28, 2024 | $0.660 | 1.29% |
| 2 | Jul 25, 2023 | Aug 10, 2023 | Aug 25, 2023 | $0.630 | 1.40% |
| 3 | Jan 31, 2023 | Feb 14, 2023 | Feb 28, 2023 | $0.630 | 1.30% |
| 4 | Aug 05, 2022 | Aug 15, 2022 | Aug 29, 2022 | $0.600 | 1.44% |
| 5 | Feb 04, 2022 | Feb 14, 2022 | Feb 28, 2022 | $0.600 | 1.40% |
FAQ
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