Equity Bancshares Stock Forecast
Evaluation of Equity Bancshares stock downgraded after the last trading session.
(Updated on Apr 24, 2024)
The Equity Bancshares stock price fell by -0.96% on the last day (Wednesday, 24th Apr 2024) from $34.29 to $33.96. During the last trading day the stock fluctuated 1.13% from a day low at $33.70 to a day high of $34.08. The price has fallen in 7 of the last 10 days but is still up by 3.25% 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 -24 thousand shares and in total, 40 thousand shares were bought and sold for approximately $1.36 million.
The stockis at the upper part of a wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $34.43 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Equity Bancshares stock with a 90% probability to be traded between $31.22 and $34.64 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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EQBK Signals & Forecast
The Equity Bancshares 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 $32.62 and $32.67. 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 Tuesday, April 23, 2024, and so far it has fallen -0.96%. 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 along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
A sell signal from a double top formation was found on Tuesday, April 23, 2024 and based on theory for this formation the price should fall by -5.36% to $32.14 within 17 trading days since signal was issued (Thursday, April 25, 2024).
Support, Risk & Stop-loss for Equity Bancshares stock
Equity Bancshares finds support from accumulated volume at $33.55 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.380 between high and low, or 1.13%. For the last week the stock has had daily average volatility of 2.63%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (EQBK) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Equity Bancshares to open at $33.91, and during the day (based on 14 day Average True Range), to move between $33.03 and $34.89, which gives a possible trading interval of +/-$0.93 (+/-2.75%) up or down from last closing price. If Equity Bancshares takes out the full calculated possible swing range there will be an estimated 5.50% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $34.08 (0.35%) than the support at $33.55 (1.21%), 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 Equity Bancshares stock A Buy?
Equity Bancshares 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 Buy to a Sell candidate.
Current score: -2.158 Sell Candidate Downgraded
Predicted Opening Price for Equity Bancshares of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $33.91 ( 0.147%) | $33.96 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EQBK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 34.29 | 0.97 % | |
| R2 | 34.14 | 0.544 % | ||
| R1 | 34.06 | 0.280 % | ||
| Current price: | 33.96 | |||
| Support | S1 | 33.76 | -0.575 % | |
| S2 | 33.68 | -0.84 % | ||
| S3 | 33.53 | -1.27 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 34.37 | 1.21 % | |
| R2 | 34.29 | 0.97 % | ||
| R1 | 34.08 | 0.353 % | ||
| Current price | 33.96 | |||
| Support | S1 | 33.55 | -1.21% | |
| S2 | 32.50 | -4.30% | ||
| S3 | 32.00 | -5.77% |
EQBK Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 15, 2024 | Mar 27, 2024 | Apr 15, 2024 | $0.120 | 0.374% |
| 2 | Dec 13, 2023 | Dec 28, 2023 | Jan 15, 2024 | $0.120 | 0.367% |
| 3 | Sep 19, 2023 | Sep 28, 2023 | Oct 16, 2023 | $0.120 | 0.490% |
| 4 | Jun 16, 2023 | Jun 29, 2023 | Jul 14, 2023 | $0.100 | 0.417% |
| 5 | Mar 20, 2023 | Mar 30, 2023 | Jul 14, 2023 | $0.100 | 0.417% |
FAQ
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