German American Bancorp Stock Forecast

German American Bancorp stock upgraded to Buy Candidate.
(Updated on Apr 18, 2024)

GABC Signals & Forecast

A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 1.69%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The German American Bancorp stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $32.72. On a fall, the stock will find some support from the short-term average at $31.83. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for German American Bancorp stock

German American Bancorp finds support from accumulated volume at $31.66 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 $0.640 between high and low, or 2.04%. For the last week, the stock has had daily average volatility of 1.77%.

German American Bancorp is oversold on RSI14 (24). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: $30.01 (-5.88%) (This stock has medium daily movements and this gives medium risk. Low RSI14 is 24 which reduces the risk some. There is a buy signal from a pivot bottom found 1 day ago.)

Trading Expectations (GABC) For The Upcoming Trading Day Of Friday 19th

For the upcoming trading day on Friday, 19th we expect German American Bancorp to open at $31.80, and during the day (based on 14 day Average True Range), to move between $31.07 and $32.69, which gives a possible trading interval of +/-$0.81 (+/-2.53%) up or down from last closing price. If German American Bancorp takes out the full calculated possible swing range there will be an estimated 5.06% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $32.00 (0.38%) than the support at $31.66 (0.69%), 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 German American Bancorp stock A Buy?

Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for German American Bancorp stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.

Current score: 1.661 Buy Candidate Upgraded

Predicted Opening Price for German American Bancorp of Friday, April 19, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.