Shore Bancshares Inc Stock Forecast
Shore Bancshares Inc stock upgraded from Hold/Accumulate to Buy Candidate after Wednesday trading session.
(Updated on Mar 27, 2024)
The Shore Bancshares Inc stock price gained 2.70% on the last trading day (Wednesday, 27th Mar 2024), rising from $11.10 to $11.40. During the last trading day the stock fluctuated 2.61% from a day low at $11.11 to a day high of $11.40. The price has been going up and down for this period, and there has been a 1.51% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 41 thousand more shares were traded than the day before. In total, 106 thousand shares were bought and sold for approximately $1.21 million.
The stock lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $11.65 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -21.80% during the next 3 months and, with a 90% probability hold a price between $8.08 and $9.11 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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SHBI Signals & Forecast
Mostly positive signals in the chart today. The Shore Bancshares Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $11.16 and $11.24. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, March 18, 2024, and so far it has risen 6.44%. 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). Shore Bancshares Inc has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk.
Support, Risk & Stop-loss for Shore Bancshares Inc stock
Shore Bancshares Inc finds support from accumulated volume at $11.10 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.290 (2.61%) between high and low. For the last week, the stock has had daily average volatility of 2.46%.
Our recommended stop-loss: $10.91 (-4.28%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 7 days ago.)
Trading Expectations (SHBI) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Shore Bancshares Inc to open at $11.30, and during the day (based on 14 day Average True Range), to move between $11.06 and $11.74, which gives a possible trading interval of +/-$0.338 (+/-2.97%) up or down from last closing price. If Shore Bancshares Inc takes out the full calculated possible swing range there will be an estimated 5.94% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $11.56 (1.40%) than the support at $11.10 (2.63%), 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?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.271 Buy Candidate Upgraded
Predicted Opening Price for Shore Bancshares Inc of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$11.30 ( 0.85%) | $11.40 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SHBI
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 11.59 | 1.70 % | |
R2 | 11.48 | 0.724 % | ||
R1 | 11.41 | 0.124 % | ||
Current price: | 11.40 | |||
Support | S1 | 11.19 | -1.82 % | |
S2 | 11.12 | -2.42 % | ||
S3 | 11.01 | -3.39 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 13.64 | 19.65 % | |
R2 | 11.66 | 2.28 % | ||
R1 | 11.56 | 1.40 % | ||
Current price | 11.40 | |||
Support | S1 | 11.10 | -2.63% | |
S2 | 11.02 | -3.33% | ||
S3 | 10.78 | -5.44% |
SHBI Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 02, 2024 | Feb 09, 2024 | Feb 29, 2024 | $0.120 | 1.06% |
2 | Nov 07, 2023 | Nov 16, 2023 | Nov 30, 2023 | $0.120 | 1.01% |
3 | Jul 25, 2023 | Aug 03, 2023 | Aug 31, 2023 | $0.120 | 1.08% |
4 | May 03, 2023 | May 11, 2023 | Aug 31, 2023 | $0.120 | 1.08% |
5 | Feb 08, 2023 | Feb 16, 2023 | Feb 28, 2023 | $0.120 | 0.703% |
FAQ
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