Stock Yards Bancorp Stock Forecast
Stronger technical forecast for Stock Yards Bancorp stock price after Tuesday trading.
(Updated on Jul 02, 2024)
The Stock Yards Bancorp stock price gained 2.46% on the last trading day (Tuesday, 2nd Jul 2024), rising from $49.25 to $50.46. During the last trading day the stock fluctuated 3.21% from a day low at $48.98 to a day high of $50.55. The price has risen in 6 of the last 10 days and is up by 5.28% over the past 2 weeks. Volume fell on the last day by -30 thousand shares and in total, 71 thousand shares were bought and sold for approximately $3.57 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the upper part of a wide and weak rising 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 $51.12 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 6.88% during the next 3 months and, with a 90% probability hold a price between $48.21 and $54.64 at the end of this 3-month period.
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SYBT Signals & Forecast
Mostly positive signals in the chart today. The Stock Yards Bancorp 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 $48.82 and $47.50. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, May 29, 2024, and so far it has risen 12.56%. 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.
Support, Risk & Stop-loss for Stock Yards Bancorp stock
Stock Yards Bancorp finds support from accumulated volume at $49.67 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $1.57 between high and low, or 3.21%. For the last week, the stock has had daily average volatility of 3.18%.
Our recommended stop-loss: $48.92 (-3.06%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 30 days ago.)
Trading Expectations (SYBT) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Stock Yards Bancorp to open at $50.00, and during the day (based on 14 day Average True Range), to move between $49.19 and $51.73, which gives a possible trading interval of +/-$1.27 (+/-2.51%) up or down from last closing price. If Stock Yards Bancorp takes out the full calculated possible swing range there will be an estimated 5.02% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $49.67, some $0.790 (1.57%) from the current price of $50.46, our system finds the risk reward attractive.
Is Stock Yards Bancorp stock A Buy?
Stock Yards Bancorp holds several positive signals and is within a weak 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 Buy to a Strong Buy candidate.
Current score: 6.110 Strong Buy Candidate Upgraded
Predicted Opening Price for Stock Yards Bancorp of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $50.00 ( 0.92%) | $50.46 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SYBT
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 51.57 | 2.19% |
| R2 | 50.97 | 1.00% |
| R1 | 50.60 | 0.270% |
| Price | 50.46 | |
| S1 | 49.40 | -2.11% |
| S2 | 49.03 | -2.84% |
| S3 | 48.43 | -4.03% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 50.46 | |
| S1 | 49.67 | -1.57% |
| S2 | 48.10 | -4.68% |
| S3 | 47.20 | -6.46% |
SYBT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 17, 2024 | Jun 17, 2024 | Jul 01, 2024 | $0.300 | 0.609% |
| 2 | Feb 20, 2024 | Mar 15, 2024 | Apr 01, 2024 | $0.300 | 0.629% |
| 3 | Nov 21, 2023 | Dec 15, 2023 | Dec 29, 2023 | $0.300 | 0.583% |
| 4 | Aug 15, 2023 | Sep 15, 2023 | Oct 02, 2023 | $0.300 | 0.770% |
| 5 | May 16, 2023 | Jun 16, 2023 | Jul 03, 2023 | $0.290 | 0.628% |
FAQ
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