M&T Bank Corporation Stock Forecast

Stronger technical forecast for M&T Bank Corporation stock price after Monday trading.
(Updated on Apr 15, 2024)

MTB Signals & Forecast

The M&T Bank 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 $137.94 and $140.66. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 12, 2024, and so far it has risen 4.74%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. 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 M&T Bank Corporation stock

M&T Bank Corporation finds support from accumulated volume at $139.39 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $6.72 (4.85%) between high and low. For the last week, the stock has had daily average volatility of 2.61%.

Our recommended stop-loss: $134.97 (-4.24%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 1 day ago.)

Trading Expectations (MTB) For The Upcoming Trading Day Of Tuesday 16th

For the upcoming trading day on Tuesday, 16th we expect M&T Bank Corporation to open at $141.63, and during the day (based on 14 day Average True Range), to move between $137.11 and $144.77, which gives a possible trading interval of +/-$3.83 (+/-2.72%) up or down from last closing price. If M&T Bank Corporation takes out the full calculated possible swing range there will be an estimated 5.43% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $141.97 (0.73%) than the support at $139.39 (1.10%), 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 M&T Bank Corporation 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 M&T Bank Corporation stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.

Current score: 1.164 Buy Candidate Upgraded

Predicted Opening Price for M&T Bank Corporation of Tuesday, April 16, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.