U.s. Bancorp Stock Forecast
Green day on Tuesday for U.s. Bancorp
(Updated on Jun 25, 2024)
The U.s. Bancorp stock price gained 0.337% on the last trading day (Tuesday, 25th Jun 2024), rising from $17.81 to $17.87. 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 0.619% from a day low at $17.76 to a day high of $17.87. The price has risen in 7 of the last 10 days and is up by 1.82% 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, 10 thousand more shares were traded than the day before. In total, 26 thousand shares were bought and sold for approximately $455.83 thousand.
The stock is moving within a narrow and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect U.s. Bancorp stock with a 90% probability to be traded between $17.91 and $18.43 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.
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USB-PR Signals & Forecast
The U.s. 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 $17.67 and $17.57. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 11, 2024, and so far it has risen 2.65%. Further rise is indicated until a new top pivot has been found. U.s. Bancorp 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. 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 U.s. Bancorp stock
U.s. Bancorp finds support from accumulated volume at $17.67 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.110 between high and low, or 0.619%. For the last week the stock has had daily average volatility of 0.99%.
Our recommended stop-loss: $16.90 (-5.44%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 12 days ago.)
Trading Expectations (USB-PR) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect U.s. Bancorp to open at $17.83, and during the day (based on 14 day Average True Range), to move between $17.62 and $18.12, which gives a possible trading interval of +/-$0.248 (+/-1.39%) up or down from last closing price. If U.s. Bancorp takes out the full calculated possible swing range there will be an estimated 2.78% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $17.67, some $0.200 (1.12%) from the current price of $17.87, our system finds the risk reward attractive.
Is U.s. Bancorp 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 U.s. Bancorp stock to perform well in the short-term period.
Current score: 1.927 Buy Candidate Unchanged
Predicted Opening Price for U.s. Bancorp of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $17.83 ( 0.205%) | $17.87 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for USB-PR
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 17.94 | 0.410% |
| R2 | 17.90 | 0.175% |
| R1 | 17.88 | 0.0300% |
| Price | 17.87 | |
| S1 | 17.79 | -0.440% |
| S2 | 17.77 | -0.586% |
| S3 | 17.72 | -0.82% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 17.87 | |
| S1 | 17.67 | -1.12% |
| S2 | 17.55 | -1.79% |
| S3 | 17.30 | -3.19% |
USB-PR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 28, 2024 | Jun 28, 2024 | Jul 15, 2024 | $0 | 0% |
| 2 | Mar 27, 2024 | Mar 27, 2024 | Apr 15, 2024 | $0.250 | 1.46% |
| 3 | Dec 28, 2023 | Dec 28, 2023 | Jan 16, 2024 | $0.250 | 1.41% |
| 4 | Sep 28, 2023 | Sep 28, 2023 | Oct 16, 2023 | $0.250 | 1.71% |
| 5 | Jun 29, 2023 | Jun 29, 2023 | Jul 17, 2023 | $0.250 | 1.52% |
FAQ
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