Third Coast Bancshares, Inc. Stock Forecast
Third Coast Bancshares, Inc. stock downgraded to Hold/Accumulate
(Updated on May 03, 2024)
The Third Coast Bancshares, Inc. stock price gained 1.36% on the last trading day (Friday, 3rd May 2024), rising from $20.65 to $20.93. 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 1.30% from a day low at $20.72 to a day high of $20.99. The price has risen in 6 of the last 10 days and is up by 9.35% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 3 thousand more shares were traded than the day before. In total, 41 thousand shares were bought and sold for approximately $859.43 thousand.
The stock has broken the wide and horizontal trend up. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately. $20.23 is considered to be a "second chance" to hit a potential runner. It is, however, important that volume does follow the price as false breaks may appear and it may move back into the horizontal trend. Based on the rectangle-formation theory the stock is predicted to reach $22.19 sometime during the next 3 months.
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TCBX Signals & Forecast
The Third Coast 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 $20.05 and $19.37. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 14.81%. 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). Third Coast 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.
Support, Risk & Stop-loss for Third Coast Bancshares, Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $19.74 and $19.17. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Third Coast Bancshares, Inc. finds support just below today's level at $19.74. If this is broken, then the next support from accumulated volume will be at $19.17 and $18.81.
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 $0.270 between high and low, or 1.30%. For the last week, the stock has had daily average volatility of 2.27%.
Our recommended stop-loss: $20.21 (-3.46%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 12 days ago.)
Trading Expectations (TCBX) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Third Coast Bancshares, Inc. to open at $20.88, and during the day (based on 14 day Average True Range), to move between $20.42 and $21.44, which gives a possible trading interval of +/-$0.510 (+/-2.44%) up or down from last closing price. If Third Coast Bancshares, Inc. takes out the full calculated possible swing range there will be an estimated 4.87% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $19.74, some $1.19 (5.69%) from the current price of $20.93, our system finds the risk reward attractive.
Is Third Coast Bancshares, Inc. stock A Buy?
Third Coast Bancshares, Inc. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Third Coast Bancshares, Inc. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $20.88 ( 0.239%) | $20.93 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TCBX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 21.15 | 1.05 % | |
| R2 | 21.05 | 0.558 % | ||
| R1 | 20.98 | 0.254 % | ||
| Current price: | 20.93 | |||
| Support | S1 | 20.78 | -0.732 % | |
| S2 | 20.71 | -1.04 % | ||
| S3 | 20.61 | -1.53 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 20.93 | |||
| Support | S1 | 19.74 | -5.69% | |
| S2 | 19.17 | -8.41% | ||
| S3 | 18.81 | -10.13% |
TCBX Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 16, 2023 | Mar 30, 2023 | Apr 17, 2023 | $16.88 | 117.60% |
| 2 | Jan 17, 2023 | Jan 17, 2023 | Dec 31, 2022 | $17.25 | 93.60% |
| 3 | Dec 15, 2022 | Dec 29, 2022 | Jan 17, 2023 | $17.25 | 92.74% |
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