US Bancorp Stock Forecast
US Bancorp stock price ended at $44.70 on Thursday, after gaining 1.59%.
(Updated on Mar 28, 2024)
The US Bancorp stock price gained 1.59% on the last trading day (Thursday, 28th Mar 2024), rising from $44.00 to $44.70. During the last trading day the stock fluctuated 1.38% from a day low at $44.30 to a day high of $44.91. The price has been going up and down for this period, and there has been a 5.55% gain for the last 2 weeks. Volume fell on the last day by -650 thousand shares and in total, 5 million shares were bought and sold for approximately $240.20 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 has broken the horizontal trend up. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately. $43.87 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 $47.38 sometime during the next 3 months.
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USB Signals & Forecast
The US 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 $43.90 and $42.25. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, February 07, 2024, and so far it has risen 12.00%. Further rise is indicated until a new top pivot has been found. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for US Bancorp stock
On the downside, the stock finds support just below today's level from accumulated volume at $40.84 and $40.82. 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, US Bancorp finds support just below today's level at $40.84. If this is broken, then the next support from accumulated volume will be at $40.82 and $40.10.
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 $0.610 between high and low, or 1.38%. For the last week the stock has had daily average volatility of 1.92%.
Our recommended stop-loss: $43.22 (-3.30%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 35 days ago.)
Trading Expectations (USB) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect US Bancorp to open at $44.64, and during the day (based on 14 day Average True Range), to move between $43.72 and $45.68, which gives a possible trading interval of +/-$0.98 (+/-2.20%) up or down from last closing price. If US Bancorp takes out the full calculated possible swing range there will be an estimated 4.40% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $40.84, some $3.86 (8.64%) from the current price of $44.70, our system finds the risk reward attractive.
Is US Bancorp stock A Buy?
Several short-term signals are positive and the stock has broken the horizontal trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for US Bancorp stock to perform well in the short-term period.
Current score: 4.500 Buy Candidate Unchanged
Predicted Opening Price for US Bancorp of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$44.64 ( 0.142%) | $44.70 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for USB
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 45.25 | 1.22 % | |
R2 | 45.01 | 0.702 % | ||
R1 | 44.87 | 0.380 % | ||
Current price: | 44.70 | |||
Support | S1 | 44.40 | -0.663 % | |
S2 | 44.26 | -0.99 % | ||
S3 | 44.03 | -1.51 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 44.70 | |||
Support | S1 | 40.84 | -8.64% | |
S2 | 40.82 | -8.68% | ||
S3 | 40.10 | -10.29% |
USB Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 12, 2024 | Mar 27, 2024 | Apr 15, 2024 | $0.490 | 1.10% |
2 | Dec 12, 2023 | Dec 29, 2023 | Jan 16, 2024 | $0.490 | 1.18% |
3 | Dec 12, 2023 | Dec 28, 2023 | Jan 16, 2024 | $0.490 | 1.18% |
4 | Sep 12, 2023 | Sep 28, 2023 | Oct 16, 2023 | $0.480 | 1.47% |
5 | Jun 13, 2023 | Jun 29, 2023 | Jul 17, 2023 | $0.480 | 1.36% |
FAQ
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