Republic Bancorp 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
Stronger technical forecast for Republic Bancorp stock price after Friday trading.
(Updated on May 03, 2024)
The Republic Bancorp stock price gained 1.50% on the last trading day (Friday, 3rd May 2024), rising from $51.85 to $52.63. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.92% from a day low at $51.84 to a day high of $52.84. The price has risen in 7 of the last 10 days and is up by 5.51% over the past 2 weeks. Volume fell on the last day by -3 thousand shares and in total, 17 thousand shares were bought and sold for approximately $873.87 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock has broken the horizontal trend up. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately. $51.21 is considered to be a "second chance" to hit a potential runner. It is, however, important that volume does follow the price as false breaks may appear and it may move back into the horizontal trend. Based on the rectangle-formation theory the stock is predicted to reach $55.32 sometime during the next 3 months.
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RBCAA Signals & Forecast
The Republic 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 $51.22 and $49.49. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 11.95%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not. The stock had a Golden Star Signal on Tuesday, October 31, 2023 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Tuesday, October 31, 2023 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
A buy signal from a double bottom formation was found on Tuesday, April 16, 2024 and based on theory for this formation the price should go up by 1.11% to $53.21 within 20 trading days since signal was issued (Monday, May 06, 2024).
Support, Risk & Stop-loss for Republic Bancorp stock
Republic Bancorp finds support from accumulated volume at $51.25 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.99 between high and low, or 1.92%. For the last week the stock has had daily average volatility of 2.26%.
The Republic Bancorp stock is extremely overbought on RSI14 (76). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Our recommended stop-loss: $50.89 (-3.31%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 76 and this increases the risk substantially. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (RBCAA) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Republic Bancorp to open at $52.44, and during the day (based on 14 day Average True Range), to move between $51.27 and $53.99, which gives a possible trading interval of +/-$1.36 (+/-2.58%) up or down from last closing price. If Republic Bancorp takes out the full calculated possible swing range there will be an estimated 5.16% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $51.25, some $1.38 (2.62%) from the current price of $52.63, our system finds the risk reward attractive.
Is Republic Bancorp stock A Buy?
Republic Bancorp holds several positive signals and has broken the horizontal trend up. As the stock is in great technical shape we, therefore, consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.289 Strong Buy Candidate Upgraded
Predicted Opening Price for Republic Bancorp of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $52.44 ( 0.371%) | $52.63 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RBCAA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 53.43 | 1.52 % | |
| R2 | 53.05 | 0.798 % | ||
| R1 | 52.82 | 0.352 % | ||
| Current price: | 52.63 | |||
| Support | S1 | 52.05 | -1.09 % | |
| S2 | 51.82 | -1.54 % | ||
| S3 | 51.44 | -2.26 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 52.63 | |||
| Support | S1 | 51.25 | -2.62% | |
| S2 | 49.37 | -6.19% | ||
| S3 | 48.83 | -7.22% |
RBCAA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 24, 2024 | Mar 14, 2024 | Apr 19, 2024 | $0.407 | 0.82% |
| 2 | Nov 15, 2023 | Dec 14, 2023 | Jan 19, 2024 | $0.374 | 0.737% |
| 3 | Jul 19, 2023 | Sep 14, 2023 | Oct 20, 2023 | $0.374 | 0.86% |
| 4 | May 17, 2023 | Jun 15, 2023 | Jul 21, 2023 | $0.374 | 0.81% |
| 5 | Jan 25, 2023 | Mar 16, 2023 | Apr 21, 2023 | $0.374 | 0.91% |
FAQ
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