BNC Bancorp Stock Forecast
BNC Bancorp stock price ended at $18.96 on Tuesday, after gaining 0.85%.
(Updated on Jul 02, 2024)
The BNC Bancorp stock price gained 0.85% on the last trading day (Tuesday, 2nd Jul 2024), rising from $18.80 to $18.96. During the last trading day the stock fluctuated 4.71% from a day low at $18.24 to a day high of $19.10. The price has fallen in 6 of the last 10 days and is down by -18.28% for this period. Volume fell on the last day by -9 thousand shares and in total, 754 shares were bought and sold for approximately $14.30 thousand. 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 is at the lower part of a very wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $18.48 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect BNC Bancorp stock with a 90% probability to be traded between $18.11 and $24.68 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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YZCAY Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, June 27, 2024, and so far it has risen 2.49%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The BNC Bancorp stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $19.73 and $22.83. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for BNC Bancorp stock
BNC Bancorp finds support from accumulated volume at $18.80 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.86 between high and low, or 4.71%. For the last week the stock has had daily average volatility of 14.60%.
BNC Bancorp is oversold on RSI14 (24). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (YZCAY) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect BNC Bancorp to open at $18.77, and during the day (based on 14 day Average True Range), to move between $17.78 and $20.14, which gives a possible trading interval of +/-$1.18 (+/-6.21%) up or down from last closing price. If BNC Bancorp takes out the full calculated possible swing range there will be an estimated 12.42% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $18.80 (0.84%) than the resistance at $21.55 (13.66%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is BNC Bancorp stock A Buy?
BNC Bancorp holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -3.443 Sell Candidate Unchanged
Predicted Opening Price for BNC Bancorp of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $18.77 ( 1.02%) | $18.96 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for YZCAY
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 19.63 | 3.52% |
| R2 | 19.30 | 1.78% |
| R1 | 19.10 | 0.713% |
| Price | 18.96 | |
| S1 | 18.44 | -2.75% |
| S2 | 18.24 | -3.82% |
| S3 | 17.91 | -5.56% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 22.62 | 19.30% |
| R2 | 22.52 | 18.78% |
| R1 | 21.55 | 13.66% |
| Price | 18.96 | |
| S1 | 18.80 | -0.84% |
| S2 | 18.50 | -2.43% |
| S3 | 0 | - |
YZCAY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 27, 2024 | Jun 27, 2024 | Aug 09, 2024 | $0.262 | 1.38% |
| 2 | Aug 07, 2023 | Jul 03, 2023 | Aug 14, 2023 | $1.74 | 11.69% |
| 3 | Jul 01, 2022 | Jul 01, 2022 | Aug 01, 2022 | $0.597 | 2.83% |
| 4 | Jun 22, 2021 | Jun 22, 2021 | Aug 13, 2021 | $0.623 | 6.61% |
| 5 | Jun 24, 2020 | Jun 24, 2020 | Aug 17, 2020 | $0.82 | 15.13% |
FAQ
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