Allegiance Bancshares Forecast and Stock Analysis
Technical ABTX stock analysis for April 24, 2019.
Allegiance Bancshares gained 0.87% in the last trading day, rising from $36.74 to $37.06 , and 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. The price has risen in 7 of the last 10 days and is up by 4.42% over the past 2 weeks. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 34 825 more shares were traded than the day before. In total, 100 840 shares bought and sold for approximately $3.74 million.
Close price at the end of the last trading day (Wednesday, 24th Apr 2019) of the ABTX stock was $37.06. This is 0.87% more than the trading day before Tuesday, 23rd Apr 2019.
During day the stock fluctuated 2.44% from a day low at $36.43 to a day high of $37.32.
30 day high of the ABTX stock price was $37.32 and low was $31.89.
90 day high was $38.95 and low was $31.89.
52 week high for the Allegiance Bancshares - $46.85 and low - $28.58.
Allegiance Bancshares lies the upper part of a wide and falling trend in the short term, and this will normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $37.44 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -4.79% during the next 3 months and, with 90% probability hold a price between $30.08 and $35.65 at the end of this period.
Only positive signals in the chart today. Allegiance Bancshares holds buy signals from both short- and long-term moving averages. In addition, 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 $36.68 and $35.59. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday April 22, 2019, which indicates further gains until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal.
Relative Strength Index (RSI)
RSI14 is 65 and the stock is currently not being overbought or oversold
Support & Resistance
Allegiance Bancshares finds support from accumulated volume at $36.47.
This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved $0.89 (2.44%) between high and low. For the last week, the stock has had a daily average volatility of 2.56%.
Our recommended stoploss: $35.22 (-4.96%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from pivot bottom found 2 days ago.)
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Evaluation: Buy Candidate
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for this stock to perform well in the short-term.
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|ABTX $37.06 ($0.32 0.87%)|
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