M&T Bank Corporation Stock Forecast
Red day on Friday for M&T Bank Corporation
(Updated on Apr 26, 2024)
The M&T Bank Corporation stock price fell by -0.354% on the last day (Friday, 26th Apr 2024) from $146.90 to $146.38. During the last trading day the stock fluctuated 1.82% from a day low at $146.26 to a day high of $148.93. The price has risen in 7 of the last 10 days and is up by 8.78% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -268 thousand shares and in total, 640 thousand shares were bought and sold for approximately $93.68 million.
The stock lies in the middle of a weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 5.59% during the next 3 months and, with a 90% probability hold a price between $143.42 and $157.35 at the end of this 3-month period.
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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. 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 $145.21 and $141.65. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Wednesday, April 24, 2024, and so far it has fallen -1.07%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
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 has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $2.67 between high and low, or 1.82%. For the last week, the stock has had daily average volatility of 1.91%.
Our recommended stop-loss: $140.25 (-4.18%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (MTB) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect M&T Bank Corporation to open at $147.19, and during the day (based on 14 day Average True Range), to move between $142.93 and $149.83, which gives a possible trading interval of +/-$3.45 (+/-2.36%) 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 4.72% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $146.86 (0.33%) than the support at $140.94 (3.72%), 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.
Current score: 3.314 Buy Candidate Unchanged
Predicted Opening Price for M&T Bank Corporation of Monday, April 29, 2024
Fair opening price April 29, 2024 | Current price |
---|---|
$147.19 ( 0.554%) | $146.38 |
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 | 149.86 | 2.38 % | |
R2 | 148.84 | 1.68 % | ||
R1 | 148.21 | 1.25 % | ||
Current price: | 146.38 | |||
Support | S1 | 146.17 | -0.141 % | |
S2 | 145.54 | -0.571 % | ||
S3 | 144.53 | -1.27 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 147.96 | 1.08 % | |
R2 | 146.90 | 0.355 % | ||
R1 | 146.86 | 0.328 % | ||
Current price | 146.38 | |||
Support | S1 | 140.94 | -3.72% | |
S2 | 131.73 | -10.01% | ||
S3 | 130.47 | -10.87% |
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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