Banco De Chile Stock Forecast
Banco De Chile stock downgraded to Sell Candidate
(Updated on Mar 27, 2024)
The Banco De Chile stock price gained 0.0457% on the last trading day (Wednesday, 27th Mar 2024), rising from $21.89 to $21.90. It has now gained 4 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 1.36% from a day low at $21.64 to a day high of $21.94. The price has risen in 7 of the last 10 days but is still down by -7.2% for this period. Volume fell on the last day by -87 thousand shares and in total, 108 thousand shares were bought and sold for approximately $2.36 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 is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Banco De Chile stock with a 90% probability to be traded between $21.68 and $24.47 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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BCH Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, March 21, 2024, and so far it has risen 3.06%. 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. The Banco De Chile 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 $21.93 and $22.72. 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).
Support, Risk & Stop-loss for Banco De Chile stock
Banco De Chile finds support from accumulated volume at $21.89 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 $0.295 between high and low, or 1.36%. For the last week, the stock has had daily average volatility of 1.51%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BCH) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Banco De Chile to open at $21.83, and during the day (based on 14 day Average True Range), to move between $21.35 and $22.45, which gives a possible trading interval of +/-$0.547 (+/-2.50%) up or down from last closing price. If Banco De Chile takes out the full calculated possible swing range there will be an estimated 4.99% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $21.89 (0.05%) than the resistance at $21.93 (0.14%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Banco De Chile stock A Buy?
Banco De Chile holds several negative signals and is within a 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.058 Sell Candidate Downgraded
Predicted Opening Price for Banco De Chile of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$21.83 ( 0.342%) | $21.90 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BCH
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 22.12 | 1.00 % | |
R2 | 22.01 | 0.490 % | ||
R1 | 21.94 | 0.172 % | ||
Current price: | 21.90 | |||
Support | S1 | 21.71 | -0.86 % | |
S2 | 21.64 | -1.17 % | ||
S3 | 21.53 | -1.69 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 23.60 | 7.76 % | |
R2 | 22.80 | 4.11 % | ||
R1 | 21.93 | 0.137 % | ||
Current price | 21.90 | |||
Support | S1 | 21.89 | -0.0457% | |
S2 | 21.56 | -1.55% | ||
S3 | 21.25 | -2.97% |
BCH Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 05, 2024 | Mar 21, 2024 | Apr 05, 2024 | $1.09 | 4.98% |
2 | Feb 27, 2023 | Mar 16, 2023 | Mar 30, 2023 | $2.08 | 10.62% |
3 | Feb 03, 2022 | Mar 24, 2022 | Apr 07, 2022 | $1.33 | 6.09% |
4 | Mar 24, 2021 | Mar 26, 2021 | Mar 26, 2021 | $0.607 | 2.64% |
5 | Mar 06, 2019 | Mar 21, 2019 | Apr 04, 2019 | $1.06 | 3.54% |
FAQ
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