Stronger technical forecast for UMB Financial Corporation stock price after Wednesday trading.
(Updated on Nov 29, 2023)
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The stock lies in the middle of a wide and strong 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 15.40% during the next 3 months and, with a 90% probability hold a price between $75.05 and $87.01 at the end of this 3-month period.
UMBF Signals & Forecast
The UMB Financial Corporation 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 $71.40 and $66.61. 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 Wednesday, November 15, 2023, and so far it has fallen -2.66%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for UMB Financial Corporation stock
UMB Financial Corporation finds support from accumulated volume at $69.32 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 $2.07 between high and low, or 2.91%. For the last week, the stock has had daily average volatility of 1.60%.
Our recommended stop-loss: $68.88 (-4.33%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 9 days ago.)
Trading Expectations (UMBF) For The Upcoming Trading Day Of Thursday 30th
For the upcoming trading day on Thursday, 30th we expect UMB Financial Corporation to open at $72.11, and during the day (based on 14 day Average True Range), to move between $70.12 and $73.86, which gives a possible trading interval of +/-$1.87 (+/-2.60%) up or down from last closing price. If UMB Financial Corporation takes out the full calculated possible swing range there will be an estimated 5.20% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $72.35 (0.50%) than the support at $69.32 (3.71%), 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 UMB Financial Corporation 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 UMB Financial Corporation 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: 4.023 Open Broker AccountBuy Candidate Upgraded
Predicted Opening Price for UMB Financial Corporation of Thursday, November 30, 2023
The predicted opening price is based on yesterday's movements between high, low, and closing price.
|Fair opening price November 30, 2023||Current price|
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Fibonacci Support & Resistance Levels
Accumulated Volume Support & Resistance Levels
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