1st Source Corporation Stock Forecast

Weaker technical forecast for 1st Source Corporation as stock downgraded to Hold/Accumulate.
(Updated on Jul 02, 2024)

SRCE Signals & Forecast

The 1st Source Corporation 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 $52.18 and $51.16. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has risen 10.03%. 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). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. The stock had a Golden Star Signal on Tuesday, June 25, 2024 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.

Support, Risk & Stop-loss for 1st Source Corporation stock

1st Source Corporation finds support from accumulated volume at $53.62 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 $1.18 (2.22%) between high and low. For the last week, the stock has had daily average volatility of 2.24%.

Our recommended stop-loss: $52.68 (-3.00%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 30 days ago.)

Trading Expectations (SRCE) For The Upcoming Trading Day Of Wednesday 3rd

For the upcoming trading day on Wednesday, 3rd we expect 1st Source Corporation to open at $53.92, and during the day (based on 14 day Average True Range), to move between $53.25 and $55.37, which gives a possible trading interval of +/-$1.06 (+/-1.95%) up or down from last closing price. If 1st Source Corporation takes out the full calculated possible swing range there will be an estimated 3.91% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $53.62, some $0.690 (1.27%) from the current price of $54.31, our system finds the risk reward attractive.

Is 1st Source Corporation stock A Buy?

1st Source Corporation 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: 0.000 Hold/Accumulate Downgraded

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for 1st Source Corporation of Wednesday, July 3, 2024

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