International Bancshares Corporation Stock Forecast

Green day on Friday for International Bancshares Corporation stock after gaining 3.58%
(Updated on Apr 19, 2024)

IBOC Signals & Forecast

The International Bancshares 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 $52.86 and $54.02. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 4.29%. 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 International Bancshares Corporation stock

International Bancshares Corporation finds support from accumulated volume at $53.86 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 $2.22 between high and low, or 4.25%. For the last week, the stock has had daily average volatility of 2.41%.

Our recommended stop-loss: $51.91 (-4.61%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 2 days ago.)

Trading Expectations (IBOC) For The Upcoming Trading Day Of Monday 22nd

For the upcoming trading day on Monday, 22nd we expect International Bancshares Corporation to open at $53.73, and during the day (based on 14 day Average True Range), to move between $53.08 and $55.76, which gives a possible trading interval of +/-$1.34 (+/-2.46%) up or down from last closing price. If International Bancshares Corporation takes out the full calculated possible swing range there will be an estimated 4.93% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $54.57 (0.28%) than the support at $53.86 (1.03%), 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 International Bancshares Corporation stock A Buy?

International Bancshares Corporation holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.251 Hold/Accumulate Unchanged

Predicted Opening Price for International Bancshares Corporation of Monday, April 22, 2024

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