Texas Capital Bancshares Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Texas Capital Bancshares stock price up 1.15% on Friday
(Updated on May 03, 2024)
The Texas Capital Bancshares stock price gained 1.15% on the last trading day (Friday, 3rd May 2024), rising from $59.89 to $60.58. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.83% from a day low at $60.09 to a day high of $61.19. The price has risen in 6 of the last 10 days and is up by 3.24% over the past 2 weeks. Volume fell on the last day by -282 thousand shares and in total, 295 thousand shares were bought and sold for approximately $17.85 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 stockis at the upper part of a wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $61.17 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Texas Capital Bancshares stock with a 90% probability to be traded between $54.47 and $60.24 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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TCBI Signals & Forecast
Mostly positive signals in the chart today. The Texas Capital Bancshares 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 $58.68 and $58.70. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 9.13%. 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 Texas Capital Bancshares stock
Texas Capital Bancshares finds support from accumulated volume at $58.68 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 $1.10 between high and low, or 1.83%. For the last week, the stock has had daily average volatility of 1.99%.
Our recommended stop-loss: $58.23 (-3.88%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (TCBI) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Texas Capital Bancshares to open at $60.62, and during the day (based on 14 day Average True Range), to move between $59.10 and $62.06, which gives a possible trading interval of +/-$1.48 (+/-2.45%) up or down from last closing price. If Texas Capital Bancshares takes out the full calculated possible swing range there will be an estimated 4.89% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $60.77 (0.31%) than the support at $58.68 (3.14%), 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 Texas Capital Bancshares stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Texas Capital Bancshares stock to perform well in the short-term period.
Current score: 2.361 Buy Candidate Unchanged
Predicted Opening Price for Texas Capital Bancshares of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $60.62 ( 0.0660%) | $60.58 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TCBI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 61.72 | 1.88 % | |
| R2 | 61.30 | 1.19 % | ||
| R1 | 61.04 | 0.760 % | ||
| Current price: | 60.58 | |||
| Support | S1 | 60.20 | -0.628 % | |
| S2 | 59.94 | -1.06 % | ||
| S3 | 59.52 | -1.75 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 61.55 | 1.60 % | |
| R2 | 61.08 | 0.83 % | ||
| R1 | 60.77 | 0.314 % | ||
| Current price | 60.58 | |||
| Support | S1 | 58.68 | -3.14% | |
| S2 | 58.65 | -3.19% | ||
| S3 | 56.34 | -7.00% |
FAQ
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