Buy Score Rank #4070 out of #5176
Wed 26'th Jul 2017
Signature Bank Stock Analysis
Technical stock analysis for Wed 26'th Jul 2017
Sell candidate since 2017-07-25 Loss -1.45%
Signature Bank is the lower part of a wide and horizontal trend on short term, and normally this would pose a good buying opportunity, though a break down through the bottom trend line at $131.87 will give a strong sales signal and a trend shift may be expected. Given the current horizontal trend you can expect Signature Bank with 90% probability to be traded between $130.52 and $150.63 at the end of this period with 90% probability. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the roof. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
Some negative signals were issued as well, and these may have some influence on the near short-term development. Signature Bank holds a buysignal from the short-term moving average; at the same time, however, a sales signal from the long-term average. Since the longterm average is above the short-term average there is a general sales signal in the stock. On further gains, the stock will meet resistance from the long-term moving average at $141.41. On a fall, the stock will find some support from the short-term average at $135.40. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sales signal and strengthen the general signal. A sales signal was issued from a pivot top point on Tuesday July 25, 2017, which indicates further falls until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Relative Strength Index (RSI)
RSI14 is 34 and the stock is currently not being overbought or oversold
Support & Resistance
Signature Bank finds support from accumulated volume at . On the upside the stock meets some resistance from accumulated volume at $144.07, $140.10 and $137.85.
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 $2.80 (2.07%) between high and low. For the last week, the stock has had a daily average volatility of 2.10%.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
Signature Bank holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our recommendation for this stock since last evaluation from a Buy Candidate to a Sell Candidate.