M&T 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
M&T Bank Corporation stock price ended at $147.96 on Wednesday, after gaining 0.749%.
(Updated on Apr 24, 2024)
The M&T Bank Corporation stock price gained 0.749% on the last trading day (Wednesday, 24th Apr 2024), rising from $146.86 to $147.96. It has now gained 6 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 2.10% from a day low at $145.03 to a day high of $148.07. The price has risen in 8 of the last 10 days and is up by 9.71% 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, 6 thousand more shares were traded than the day before. In total, 733 thousand shares were bought and sold for approximately $108.46 million.
The stock lies in the upper part of a 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 $148.13 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 4.33% during the next 3 months and, with a 90% probability hold a price between $141.22 and $154.55 at the end of this 3-month period.
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MTB Signals & Forecast
Mostly positive signals in the chart today. The M&T 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 $142.80 and $141.42. 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 9.96%. 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 M&T Bank Corporation stock
M&T Bank Corporation finds support from accumulated volume at $140.94 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 $3.04 (2.10%) between high and low. For the last week, the stock has had daily average volatility of 2.12%.
Since the M&T Bank Corporation has been rising for 6 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: $142.52 (-3.68%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 8 days ago.)
Trading Expectations (MTB) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect M&T Bank Corporation to open at $147.02, and during the day (based on 14 day Average True Range), to move between $144.38 and $151.54, which gives a possible trading interval of +/-$3.58 (+/-2.42%) 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 4.83% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $140.94, some $7.02 (4.74%) from the current price of $147.96, our system finds the risk reward attractive.
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.
Current score: 2.469 Buy Candidate Unchanged
Predicted Opening Price for M&T Bank Corporation of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $147.02 ( 0.635%) | $147.96 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MTB
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 150.06 | 1.42 % | |
| R2 | 148.90 | 0.634 % | ||
| R1 | 148.18 | 0.150 % | ||
| Current price: | 147.96 | |||
| Support | S1 | 145.86 | -1.42 % | |
| S2 | 145.14 | -1.91 % | ||
| S3 | 143.98 | -2.69 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 147.96 | |||
| Support | S1 | 140.94 | -4.74% | |
| S2 | 131.73 | -10.97% | ||
| S3 | 130.47 | -11.82% |
MTB Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 21, 2024 | Mar 01, 2024 | Mar 29, 2024 | $1.30 | 0.89% |
| 2 | Nov 14, 2023 | Nov 30, 2023 | Dec 29, 2023 | $1.30 | 0.95% |
| 3 | Aug 15, 2023 | Aug 31, 2023 | Sep 29, 2023 | $1.30 | 1.03% |
| 4 | May 16, 2023 | May 31, 2023 | Jun 30, 2023 | $1.30 | 1.05% |
| 5 | Feb 22, 2023 | Mar 03, 2023 | Jun 30, 2023 | $1.30 | 1.05% |
FAQ
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