Macro Bank Inc Stock Forecast
Weaker technical forecast for Macro Bank Inc as stock downgraded to Buy Candidate.
(Updated on Apr 23, 2024)
The Macro Bank Inc stock price fell by -2.29% on the last day (Tuesday, 23rd Apr 2024) from $53.27 to $52.05. During the last trading day the stock fluctuated 6.78% from a day low at $51.58 to a day high of $55.08. The price has risen in 6 of the last 10 days and is up by 0.75% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -264 thousand shares and in total, 408 thousand shares were bought and sold for approximately $21.26 million.
The stock lies in the middle of a strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 86.67% during the next 3 months and, with a 90% probability hold a price between $92.28 and $100.76 at the end of this 3-month period.
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BMA Signals & Forecast
The Macro Bank Inc 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 $49.58 and $47.46. A breakdown below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, April 22, 2024, and so far it has fallen -2.25%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Macro Bank Inc stock
Macro Bank Inc finds support from accumulated volume at $51.74 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 $3.50 between high and low, or 6.78%. For the last week, the stock has had daily average volatility of 5.90%.
Our recommended stop-loss: $49.59 (-4.76%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (BMA) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Macro Bank Inc to open at $52.91, and during the day (based on 14 day Average True Range), to move between $49.16 and $54.98, which gives a possible trading interval of +/-$2.91 (+/-5.58%) up or down from last closing price. If Macro Bank Inc takes out the full calculated possible swing range there will be an estimated 11.16% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $52.09 (0.04%) than the support at $51.74 (0.63%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Macro Bank Inc stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Macro Bank Inc stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 1.229 Buy Candidate Downgraded
Predicted Opening Price for Macro Bank Inc of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $52.91 ( 1.61%) | $52.07 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BMA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 56.41 | 8.33 % | |
| R2 | 55.07 | 5.77 % | ||
| R1 | 54.25 | 4.18 % | ||
| Current price: | 52.07 | |||
| Support | S1 | 51.57 | -0.95 % | |
| S2 | 50.75 | -2.54 % | ||
| S3 | 49.41 | -5.11 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 53.27 | 2.30 % | ||
| R1 | 52.09 | 0.0384 % | ||
| Current price | 52.07 | |||
| Support | S1 | 51.74 | -0.634% | |
| S2 | 51.07 | -1.92% | ||
| S3 | 39.79 | -23.58% |
BMA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 28, 2023 | Jan 05, 2024 | Jan 16, 2024 | $0.596 | 2.32% |
| 2 | Sep 11, 2023 | Sep 20, 2023 | Sep 28, 2023 | $0.426 | 2.05% |
| 3 | Aug 08, 2023 | Aug 17, 2023 | Aug 25, 2023 | $0.450 | 1.82% |
| 4 | Jul 28, 2023 | Aug 04, 2023 | Aug 14, 2023 | $0.452 | 1.92% |
| 5 | Jul 07, 2023 | Jul 19, 2023 | Aug 14, 2023 | $0.450 | 1.91% |
FAQ
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