Summit State Bank Stock Forecast

Green day on Thursday for Summit State Bank stock after gaining 3.76%
(Updated on May 02, 2024)

SSBI Signals & Forecast

A buy signal was issued from a pivot bottom point on Wednesday, May 01, 2024, and so far it has risen 3.76%. 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. The Summit State Bank stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $9.74 and $10.26. A break-up above any of these levels will issue buy signals. 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 not be. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Summit State Bank stock

Summit State Bank finds support from accumulated volume at $9.05 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 $0.580 between high and low, or 6.44%. For the last week the stock has had daily average volatility of 5.27%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (SSBI) For The Upcoming Trading Day Of Friday 3rd

For the upcoming trading day on Friday, 3rd we expect Summit State Bank to open at $9.33, and during the day (based on 14 day Average True Range), to move between $8.97 and $9.81, which gives a possible trading interval of +/-$0.422 (+/-4.50%) up or down from last closing price. If Summit State Bank takes out the full calculated possible swing range there will be an estimated 8.99% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $9.05 (3.62%) than the resistance at $9.75 (3.83%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Summit State Bank stock A Buy?

Summit State Bank holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.

Current score: -1.447 Sell Candidate Unchanged

Predicted Opening Price for Summit State Bank of Friday, May 3, 2024

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