Southern States Bancshares, Inc. Stock Forecast

Stronger technical forecast for Southern States Bancshares, Inc. stock price after Tuesday trading.
(Updated on Jul 02, 2024)

SSBK Signals & Forecast

Mostly positive signals in the chart today. The Southern States 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 $26.49 and $26.27. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, May 23, 2024, and so far it has risen 7.22%. 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). Southern States 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. The stock had a Golden Star Signal on Tuesday, October 24, 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.

Support, Risk & Stop-loss for Southern States Bancshares, Inc. stock

Southern States Bancshares, Inc. finds support from accumulated volume at $27.14 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.640 between high and low, or 2.40%. For the last week the stock has had daily average volatility of 3.01%.

Our recommended stop-loss: $26.26 (-3.86%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 33 days ago.)

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

For the upcoming trading day on Wednesday, 3rd we expect Southern States Bancshares, Inc. to open at $27.10, and during the day (based on 14 day Average True Range), to move between $26.58 and $28.04, which gives a possible trading interval of +/-$0.732 (+/-2.68%) up or down from last closing price. If Southern States Bancshares, Inc. takes out the full calculated possible swing range there will be an estimated 5.36% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $27.14, some $0.170 (0.62%) from the current price of $27.31, our system finds the risk reward attractive.

Is Southern States Bancshares, Inc. stock A Buy?

Southern States Bancshares, Inc. holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". 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 Hold/Accumulate to a Strong Buy candidate.

Current score: 7.571 Strong Buy Candidate Upgraded

Predicted Opening Price for Southern States Bancshares, Inc. of Wednesday, July 3, 2024

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