Bank of N.T. Butterfield & Son Ltd (The) Stock Forecast
On Wednesday, Bank of N.T. Butterfield & Son Ltd (The) stock price gained an impressive 5.09%
(Updated on Apr 24, 2024)
The Bank of N.T. Butterfield & Son Ltd (The) stock price gained 5.09% on the last trading day (Wednesday, 24th Apr 2024), rising from $32.03 to $33.66. It has now gained 5 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 5.09% from a day low at $32.04 to a day high of $33.67. The price has risen in 7 of the last 10 days and is up by 8.79% 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, 128 thousand more shares were traded than the day before. In total, 273 thousand shares were bought and sold for approximately $9.19 million.
The stock has broken the weak rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $32.41, a level that may pose a second chance to hit a runner. According to fan-theory $34.83 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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NTB Signals & Forecast
The Bank of N.T. Butterfield & Son Ltd (The) 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 $31.40 and $30.94. 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 11.60%. 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). The stock had a Golden Star Signal on Monday, March 18, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star
The stock had a Golden Star Signal on Monday, March 18, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
A buy signal from a double bottom formation was found on Thursday, March 14, 2024 with a target of $30.73. Despite whether the objective of the signal formation has been reached the stock may continue to perform well.
Support, Risk & Stop-loss for Bank of N.T. Butterfield & Son Ltd (The) stock
On the downside, the stock finds support just below today's level from accumulated volume at $29.43 and $29.36. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Bank of N.T. Butterfield & Son Ltd (The) finds support just below today's level at $29.43. If this is broken, then the next support from accumulated volume will be at $29.36 and $29.27.
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 $1.63 between high and low, or 5.09%. For the last week the stock has had daily average volatility of 2.98%.
Our recommended stop-loss: $32.43 (-3.66%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (NTB) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Bank of N.T. Butterfield & Son Limited (The) Voting to open at $33.12, and during the day (based on 14 day Average True Range), to move between $32.92 and $34.40, which gives a possible trading interval of +/-$0.736 (+/-2.19%) up or down from last closing price. If Bank of N.T. Butterfield & Son Limited (The) Voting takes out the full calculated possible swing range there will be an estimated 4.38% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $29.43, some $4.23 (12.57%) from the current price of $33.66, our system finds the risk reward attractive.
Is Bank of N.T. Butterfield & Son Limited (The) Voting stock A Buy?
Bank of N.T. Butterfield & Son Ltd (The) 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. 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 Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Bank of N.T. Butterfield & Son Limited (The) Voting of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $33.12 ( 1.59%) | $33.66 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NTB
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 34.75 | 3.25 % | |
| R2 | 34.13 | 1.40 % | ||
| R1 | 33.75 | 0.255 % | ||
| Current price: | 33.66 | |||
| Support | S1 | 32.50 | -3.44 % | |
| S2 | 32.12 | -4.59 % | ||
| S3 | 31.49 | -6.44 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 33.66 | |||
| Support | S1 | 29.43 | -12.57% | |
| S2 | 29.36 | -12.77% | ||
| S3 | 29.27 | -13.04% |
NTB Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 23, 2024 | Feb 23, 2024 | Mar 11, 2024 | $0.440 | 1.46% |
| 2 | Oct 24, 2023 | Nov 07, 2023 | Nov 22, 2023 | $0.440 | 1.61% |
| 3 | Jul 31, 2023 | Aug 11, 2023 | Aug 28, 2023 | $0.440 | 1.56% |
| 4 | Apr 24, 2023 | May 05, 2023 | May 22, 2023 | $0.440 | 1.72% |
| 5 | Feb 13, 2023 | Feb 24, 2023 | Mar 14, 2023 | $0.440 | 1.44% |
FAQ
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