Signature Bank Stock Forecast

Signature Bank stock price took a fall of -6.43% on Tuesday
(Updated on Apr 23, 2024)

SBNY Signals & Forecast

The Signature Bank stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $3.36. On a fall, the stock will find some support from the long-term average at approximately $2.56. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, April 19, 2024, and so far it has fallen -8.77%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Signature Bank gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".

Support, Risk & Stop-loss for Signature Bank stock

Signature Bank finds support from accumulated volume at $3.25 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.200 between high and low, or 6.15%. For the last week, the stock has had daily average volatility of 19.49%.

Our recommended stop-loss: $3.12 (-4.68%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 2 days ago.)

Trading Expectations (SBNY) For The Upcoming Trading Day Of Wednesday 24th

For the upcoming trading day on Wednesday, 24th we expect Signature Bank to open at $3.33, and during the day (based on 14 day Average True Range), to move between $2.69 and $3.86, which gives a possible trading interval of +/-$0.590 (+/-18.01%) up or down from last closing price. If Signature Bank takes out the full calculated possible swing range there will be an estimated 36.01% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $3.30 (0.76%) than the support at $3.25 (0.76%), 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 Signature Bank stock A Buy?

Signature Bank holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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: 0.981 Hold/Accumulate Downgraded

Predicted Opening Price for Signature Bank of Wednesday, April 24, 2024

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