SBNY - Signature Bank Tue 24'th Jan 2017
Strong Buy Candidate
Stock analysis for Tue 24'th Jan 2017 (Updated daily)
Buy candidate since 2017-01-18
Signature Bank Stock Analysis
Signature Bank gained 2.24% in the last trading day, rising from USD 153.90 to USD 157.35. The price has risen in 7 of the last 10 days days and is up by 4.89% over the past 2 weeks. Volume also increased in the last day along with the price, which is a positive technical sign, and, in total, 26 816 more shares were traded than the day before. In total, 401 968 shares bought and sold for approximately USD 63.25 million.
Signature Bank lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 21.8% during the next 3 months and, with 90% probability hold a price between USD 178.89 and USD 208.38 at the end of this period.
Only positive signals in the chart today. Signature Bank holds buy signals from both short- and long-term moving averages. In addition, 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 USD 152.62 and USD 151.02. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday January 17, 2017, which indicates further gains until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal.
* Golden Star Signal* is when the short-term moving average, the long-term moving average, and priceline meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Relative Strength Index (RSI)
RSI14 is 64 and the stock is currently not being overbought or oversold
Support & Resistance
On the downside, the stock finds support just below today's level from accumulated volume at USD 148.16 and USD 142.25. There is no resistance from accumulated volume above today's level and given the right condition the stock may perform very well during the next couple of days.
There is 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, Signature Bank finds support just below today's level at 148.16. If this is broken, then the next support from accumulated volume will be at 142.25 and 139.39.
This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved USD 3.94 (2.56%) between high and low. For the last week, the stock has had a daily average volatility of 3.04%.
Our recommended stoploss: USD 151.19 (-3.91%) ( criteria: risk and position in trend)
Signature Bank holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at current levels and are expecting further gains during the next 3 months. We have upgraded our recommendation for this stock since last evaluation from a Buy Candidate to a Strong Buy Candidate.