Macatawa Bank Corporation 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
Stronger technical forecast for Macatawa Bank Corporation stock price after Friday trading.
(Updated on Apr 19, 2024)
The Macatawa Bank Corporation stock price gained 2.02% on the last trading day (Friday, 19th Apr 2024), rising from $13.85 to $14.13. It has now gained 7 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 3.20% from a day low at $13.76 to a day high of $14.20. The price has risen in 8 of the last 10 days and is up by 46.58% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 58 thousand more shares were traded than the day before. In total, 476 thousand shares were bought and sold for approximately $6.73 million.
Given the current horizontal trend, you can expect Macatawa Bank Corporation stock with a 90% probability to be traded between $9.34 and $14.24 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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MCBC Signals & Forecast
Mostly positive signals in the chart today. The Macatawa Bank Corporation 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 $12.05 and $10.14. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 10, 2024, and so far it has risen 52.59%. 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 is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Macatawa Bank Corporation stock
Macatawa Bank Corporation finds support from accumulated volume at $13.85 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.440 between high and low, or 3.20%. For the last week, the stock has had daily average volatility of 3.08%.
The Macatawa Bank Corporation stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs. Since the Macatawa Bank Corporation has been rising for 7 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: $13.68 (-3.20%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 90 and this increases the risk substantially. There is a buy signal from a pivot bottom found 7 days ago.)
Trading Expectations (MCBC) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Macatawa Bank Corporation to open at $14.03, and during the day (based on 14 day Average True Range), to move between $13.65 and $14.61, which gives a possible trading interval of +/-$0.485 (+/-3.43%) up or down from last closing price. If Macatawa Bank Corporation takes out the full calculated possible swing range there will be an estimated 6.86% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $13.85, some $0.280 (1.98%) from the current price of $14.13, our system finds the risk reward attractive.
Earnings coming up
Macatawa Bank Corporation will release earnings BMO on Thursday, April 25, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.300. We will update the financials statements for Macatawa Bank Corporation, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.59% in the first trading day after earnings release.
Is Macatawa Bank Corporation stock A Buy?
Macatawa Bank Corporation holds several positive signals and is considered to be a good choice at current levels. We expect the Macatawa Bank Corporation stock to perform great in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.438 Strong Buy Candidate Upgraded
Predicted Opening Price for Macatawa Bank Corporation of Monday, April 22, 2024
Fair opening price April 22, 2024 | Current price |
---|---|
$14.03 ( 0.708%) | $14.13 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MCBC
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 14.47 | 2.41 % | |
R2 | 14.30 | 1.22 % | ||
R1 | 14.20 | 0.482 % | ||
Current price: | 14.13 | |||
Support | S1 | 13.86 | -1.90 % | |
S2 | 13.76 | -2.63 % | ||
S3 | 13.59 | -3.82 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 14.13 | |||
Support | S1 | 13.85 | -1.98% | |
S2 | 13.69 | -3.11% | ||
S3 | 13.67 | -3.26% |
MCBC Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 12, 2024 | Feb 12, 2024 | Feb 28, 2024 | $0.0900 | 0.93% |
2 | Oct 26, 2023 | Nov 13, 2023 | Nov 29, 2023 | $0.0900 | 0.92% |
3 | Jul 20, 2023 | Aug 14, 2023 | Aug 30, 2023 | $0.0800 | 0.88% |
4 | Apr 20, 2023 | May 12, 2023 | Aug 30, 2023 | $0.0800 | 0.88% |
5 | Jan 26, 2023 | Feb 10, 2023 | Feb 28, 2023 | $0.0800 | 0.733% |
FAQ
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