Home BancShares Stock Forecast
Home BancShares stock upgraded to Buy Candidate.
(Updated on Mar 27, 2024)
The Home BancShares stock price gained 3.68% on the last trading day (Wednesday, 27th Mar 2024), rising from $23.67 to $24.54. It has now gained 3 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 3.85% from a day low at $23.66 to a day high of $24.57. The price has risen in 7 of the last 10 days and is up by 3.46% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 518 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $31.96 million.
The stockhas broken the falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $24.23, a level that may pose a second chance to hit a runner. According to fan-theory $26.28 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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HOMB Signals & Forecast
The Home BancShares 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 $23.68 and $23.56. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, February 13, 2024, and so far it has risen 7.73%. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Home BancShares stock
Home BancShares finds support from accumulated volume at $24.06 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.91 between high and low, or 3.85%. For the last week the stock has had daily average volatility of 1.99%.
Our recommended stop-loss: $23.49 (-4.27%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 30 days ago.)
Trading Expectations (HOMB) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Home BancShares to open at $24.26, and during the day (based on 14 day Average True Range), to move between $24.02 and $25.06, which gives a possible trading interval of +/-$0.520 (+/-2.12%) up or down from last closing price. If Home BancShares takes out the full calculated possible swing range there will be an estimated 4.24% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $24.61 (0.29%) than the support at $24.06 (1.96%), 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 Home BancShares stock A Buy?
Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.551 Buy Candidate Upgraded
Predicted Opening Price for Home BancShares of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$24.26 ( 1.15%) | $24.54 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HOMB
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 25.17 | 2.55 % | |
R2 | 24.82 | 1.14 % | ||
R1 | 24.60 | 0.262 % | ||
Current price: | 24.54 | |||
Support | S1 | 23.91 | -2.57 % | |
S2 | 23.69 | -3.45 % | ||
S3 | 23.35 | -4.86 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 25.33 | 3.22 % | |
R2 | 25.09 | 2.24 % | ||
R1 | 24.61 | 0.285 % | ||
Current price | 24.54 | |||
Support | S1 | 24.06 | -1.96% | |
S2 | 23.63 | -3.71% | ||
S3 | 23.22 | -5.38% |
HOMB Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jan 24, 2024 | Feb 13, 2024 | Mar 06, 2024 | $0.180 | 0.752% |
2 | Oct 25, 2023 | Nov 14, 2023 | Dec 06, 2023 | $0.180 | 0.775% |
3 | Jul 26, 2023 | Aug 15, 2023 | Sep 06, 2023 | $0.180 | 0.82% |
4 | Apr 26, 2023 | May 16, 2023 | Jun 07, 2023 | $0.180 | 0.752% |
5 | Jan 25, 2023 | Feb 14, 2023 | Mar 08, 2023 | $0.180 | 0.779% |
FAQ
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