Old Second Bancorp Stock Forecast

Old Second Bancorp stock downgraded from Buy Candidate to Hold/Accumulate after Monday trading session.
(Updated on May 06, 2024)

OSBC Signals & Forecast

The Old Second Bancorp 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 $14.03 and $13.75. 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 -1.72%. 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 $0.250 between high and low, or 1.76%. For the last week, the stock has had daily average volatility of 1.49%.

Our recommended stop-loss: $13.81 (-3.07%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 8 days ago.)

Trading Expectations (OSBC) For The Upcoming Trading Day Of Tuesday 7th

For the upcoming trading day on Tuesday, 7th we expect Old Second Bancorp to open at $14.32, and during the day (based on 14 day Average True Range), to move between $13.91 and $14.59, which gives a possible trading interval of +/-$0.342 (+/-2.40%) up or down from last closing price. If Old Second Bancorp takes out the full calculated possible swing range there will be an estimated 4.80% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $14.36 (0.77%) than the support at $13.70 (3.86%), 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: -0.242 Hold/Accumulate Downgraded

Predicted Opening Price for Old Second Bancorp of Tuesday, May 7, 2024

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