Southern States Bancshares, Inc. Stock Forecast
Stronger technical forecast for Southern States Bancshares, Inc. stock price after Friday trading.
(Updated on Jun 28, 2024)
The Southern States Bancshares, Inc. stock price gained 2.34% on the last trading day (Friday, 28th Jun 2024), rising from $26.52 to $27.14. During the last trading day the stock fluctuated 5.99% from a day low at $25.88 to a day high of $27.43. The price has been going up and down for this period, and there has been a 3.91% 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, 123 thousand more shares were traded than the day before. In total, 133 thousand shares were bought and sold for approximately $3.60 million.
The stock lies in the middle of a wide and weak 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 9.05% during the next 3 months and, with a 90% probability hold a price between $27.56 and $30.95 at the end of this 3-month period.
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SSBK Signals & Forecast
The Southern States 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 $26.08 and $26.25. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. 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 Tuesday, May 14, 2024, and so far it has fallen -0.221%. Further fall is indicated until a new bottom pivot has been found. 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.
Golden Star 12 Months
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 $26.97 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 $1.55 between high and low, or 5.99%. For the last week the stock has had daily average volatility of 3.57%.
Our recommended stop-loss: $26.11 (-3.81%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 41 days ago.)
Trading Expectations (SSBK) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Southern States Bancshares, Inc. to open at $26.82, and during the day (based on 14 day Average True Range), to move between $26.37 and $27.91, which gives a possible trading interval of +/-$0.769 (+/-2.83%) 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 5.66% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $27.20 (0.22%) than the support at $26.97 (0.63%), 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 Southern States Bancshares, Inc. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Southern States Bancshares, Inc. 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: 2.429 Buy Candidate Upgraded
Predicted Opening Price for Southern States Bancshares, Inc. of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $26.82 ( 1.19%) | $27.14 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SSBK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 28.37 | 4.52% |
| R2 | 27.77 | 2.34% |
| R1 | 27.41 | 0.99% |
| Price | 27.14 | |
| S1 | 26.22 | -3.37% |
| S2 | 25.86 | -4.72% |
| S3 | 25.27 | -6.90% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 27.20 | 0.221% |
| Price | 27.14 | |
| S1 | 26.97 | -0.626% |
| S2 | 26.59 | -2.03% |
| S3 | 25.25 | -6.96% |
SSBK Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 17, 2024 | May 02, 2024 | May 16, 2024 | $0.0900 | 0.335% |
| 2 | Feb 01, 2024 | Feb 01, 2024 | Feb 15, 2024 | $0.0900 | 0.359% |
| 3 | Oct 19, 2023 | Nov 02, 2023 | Nov 17, 2023 | $0.0900 | 0.358% |
| 4 | Jul 19, 2023 | Aug 02, 2023 | Aug 17, 2023 | $0.0900 | 0.380% |
| 5 | Aug 01, 2023 | May 02, 2023 | May 16, 2023 | $0.0900 | 0.443% |
FAQ
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