$19.89 (-0.0503%)

Volume: 11.679k

Closed: Dec 01, 2022

Hollow Logo Score: 0.349

Shore Bancshares Inc Stock Forecast

$19.89 (-0.0503%)

Volume: 11.679k

Closed: Dec 01, 2022

Score Hollow Logo 0.349
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
RSI min/max Values: [ 25 - 75 ]
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Evaluation of Shore Bancshares Inc stock downgraded after the last trading session.
(Updated on Dec 01, 2022)


Buy or Hold candidate since 2022-11-18 Gain 0.10% PDF

The Shore Bancshares Inc stock price fell by -0.0503% on the last day (Thursday, 1st Dec 2022) from $19.90 to $19.89. During the last trading day the stock fluctuated 1.11% from a day low at $19.76 to a day high of $19.98. The price has been going up and down for this period, and there has been a 0.89% gain for the last 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 -7 thousand shares and in total, 12 thousand shares were bought and sold for approximately $232.30 thousand.

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The stock lies in the middle of a wide and strong 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 12.01% during the next 3 months and, with a 90% probability hold a price between $20.77 and $22.93 at the end of this 3-month period.

SHBI Signals & Forecast

The Shore Bancshares Inc 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 $19.84 and $19.25. A breakdown below any of these levels will issue sell signals. 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 Thursday, November 10, 2022, and so far it has fallen -0.450%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.

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Support, Risk & Stop-loss for Shore Bancshares Inc stock

On the downside, the stock finds support just below today's level from accumulated volume at $18.49 and $17.88. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Shore Bancshares Inc finds support just below today's level at $18.49. If this is broken, then the next support from accumulated volume will be at $17.88 and $17.85.

In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0.220 between high and low, or 1.11%. For the last week the stock has had daily average volatility of 2.42%

Our recommended stop-loss: $19.07 (-4.11%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 14 days ago.)

Trading Expectations (SHBI) For The Upcoming Trading Day Of Friday 2nd

For the upcoming trading day on Friday, 2nd we expect Shore Bancshares Inc to open at $19.88, and during the day (based on 14 day Average True Range), to move between $19.45 and $20.33, which gives a possible trading interval of +/-$0.436 (+/-2.19%) up or down from last closing price. If Shore Bancshares Inc takes out the full calculated possible swing range there will be an estimated 4.38% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $19.90 (0.05%) than the support at $18.49 (7.04%), 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 Shore Bancshares Inc stock A Buy?

Shore Bancshares Inc 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: 0.349 Open Broker Account

Hold/Accumulate Downgraded

Predicted Opening Price for Shore Bancshares Inc of Friday, December 2, 2022

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

Fair opening price December 2, 2022 Current price
$19.88 $19.89 (Overvalued)

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Fibonacci Support & Resistance Levels

Level Price Change
Resistance 20.10 1.04 %
20.01 0.617 %
19.96 0.355 %
Current price: 19.89
Support 19.79 -0.490 %
19.74 -0.751 %
19.66 -1.17 %

Accumulated Volume Support & Resistance Levels

Level Price Chg %
Resistance 19.98 0.452 %
19.94 0.251 %
19.90 0.0503 %
Current price 19.89
Support 18.49 -7.04%
17.88 -10.11%
17.85 -10.26%

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About Shore Bancshares Inc

Shore Bancshares, Inc. operates as a bank holding company for the Shore United Bank that provides various commercial and consumer banking products and services to individuals, businesses, and other organizations. It offers checking, savings, overnight investment sweep, and money market accounts; and regular and IRA certificates of deposit, as well as CDARS programs and cash management services. The company also provides commercial loans, such as ... SHBI Profile

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