Old Second Bancorp Stock Forecast
Old Second Bancorp stock downgraded from Buy Candidate to Hold/Accumulate after Thursday trading session.
(Updated on Apr 25, 2024)
The Old Second Bancorp stock price fell by -2.55% on the last day (Thursday, 25th Apr 2024) from $14.50 to $14.13. During the last trading day the stock fluctuated 7.96% from a day low at $13.26 to a day high of $14.32. The price has been going up and down for this period, and there has been a 5.13% gain for the last 2 weeks. Volume has increased on the last day by 78 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 252 thousand shares were bought and sold for approximately $3.56 million.
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 Old Second Bancorp stock with a 90% probability to be traded between $13.43 and $14.79 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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OSBC Signals & Forecast
The Old Second Bancorp stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $14.18. On a fall, the stock will find some support from the long-term average at approximately $13.63. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 -2.55%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Old Second Bancorp stock
Old Second Bancorp finds support from accumulated volume at $13.70 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 $1.06 between high and low, or 7.96%. For the last week, the stock has had daily average volatility of 3.50%.
Our recommended stop-loss: $13.61 (-3.69%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (OSBC) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Old Second Bancorp to open at $13.90, and during the day (based on 14 day Average True Range), to move between $13.74 and $14.52, which gives a possible trading interval of +/-$0.394 (+/-2.79%) up or down from last closing price. If Old Second Bancorp takes out the full calculated possible swing range there will be an estimated 5.57% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $14.25 (0.85%) than the support at $13.70 (3.04%), 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 Old Second Bancorp stock A Buy?
Old Second Bancorp holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.393 Hold/Accumulate Downgraded
Predicted Opening Price for Old Second Bancorp of Friday, April 26, 2024
Fair opening price April 26, 2024 | Current price |
---|---|
$13.90 ( 1.62%) | $14.13 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for OSBC
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 14.96 | 5.85 % | |
R2 | 14.55 | 3.00 % | ||
R1 | 14.30 | 1.24 % | ||
Current price: | 14.13 | |||
Support | S1 | 13.50 | -4.47 % | |
S2 | 13.25 | -6.23 % | ||
S3 | 12.85 | -9.08 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 14.50 | 2.62 % | |
R2 | 14.43 | 2.12 % | ||
R1 | 14.25 | 0.85 % | ||
Current price | 14.13 | |||
Support | S1 | 13.70 | -3.04% | |
S2 | 13.55 | -4.10% | ||
S3 | 13.36 | -5.45% |
OSBC Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 16, 2024 | Apr 25, 2024 | May 06, 2024 | $0.0500 | 0.354% |
2 | Jan 25, 2024 | Jan 25, 2024 | Feb 05, 2024 | $0.0500 | 0.374% |
3 | Oct 17, 2023 | Oct 26, 2023 | Nov 06, 2023 | $0.0500 | 0.350% |
4 | Jul 18, 2023 | Jul 27, 2023 | Aug 07, 2023 | $0.0500 | 0.305% |
5 | Apr 18, 2023 | Apr 27, 2023 | Aug 07, 2023 | $0.0500 | 0.305% |
FAQ
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