First Busey Corporation Stock Forecast
First Busey Corporation stock downgraded to Sell Candidate
(Updated on Apr 24, 2024)
The First Busey Corporation stock price fell by -0.645% on the last day (Wednesday, 24th Apr 2024) from $23.27 to $23.12. During the last trading day the stock fluctuated 5.42% from a day low at $21.94 to a day high of $23.13. The price has fallen in 6 of the last 10 days but is still up by 3.4% over the past 2 weeks. Volume has increased on the last day by 157 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 254 thousand shares were bought and sold for approximately $5.88 million.
The stock lies in the middle of a falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -4.06% during the next 3 months and, with a 90% probability hold a price between $20.82 and $22.79 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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BUSE Signals & Forecast
The First Busey Corporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $22.52 and $23.02. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 6.06%. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for First Busey Corporation stock
First Busey Corporation finds support from accumulated volume at $23.07 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 $1.19 between high and low, or 5.42%. For the last week, the stock has had daily average volatility of 3.12%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BUSE) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect First Busey Corporation to open at $22.73, and during the day (based on 14 day Average True Range), to move between $22.48 and $23.76, which gives a possible trading interval of +/-$0.640 (+/-2.77%) up or down from last closing price. If First Busey Corporation takes out the full calculated possible swing range there will be an estimated 5.54% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $23.07 (0.22%) than the resistance at $24.05 (4.02%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is First Busey Corporation stock A Buy?
First Busey Corporation holds several negative signals and we believe that 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: -1.122 Sell Candidate Downgraded
Predicted Opening Price for First Busey Corporation of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $22.73 ( 1.69%) | $23.12 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BUSE
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 23.92 | 3.46 % | |
| R2 | 23.47 | 1.49 % | ||
| R1 | 23.18 | 0.279 % | ||
| Current price: | 23.12 | |||
| Support | S1 | 22.28 | -3.65 % | |
| S2 | 21.99 | -4.87 % | ||
| S3 | 21.54 | -6.83 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 24.93 | 7.83 % | |
| R2 | 24.46 | 5.80 % | ||
| R1 | 24.05 | 4.02 % | ||
| Current price | 23.12 | |||
| Support | S1 | 23.07 | -0.216% | |
| S2 | 22.81 | -1.34% | ||
| S3 | 22.36 | -3.29% |
BUSE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 09, 2024 | Apr 18, 2024 | Apr 26, 2024 | $0.240 | 1.04% |
| 2 | Jan 09, 2024 | Jan 18, 2024 | Jan 26, 2024 | $0.240 | 0.98% |
| 3 | Oct 10, 2023 | Oct 19, 2023 | Oct 27, 2023 | $0.240 | 1.26% |
| 4 | Jul 11, 2023 | Jul 20, 2023 | Jul 28, 2023 | $0.240 | 1.12% |
| 5 | Apr 11, 2023 | Apr 20, 2023 | Apr 28, 2023 | $0.240 | 1.32% |
FAQ
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