South State Corporation Stock Forecast
Stronger technical forecast for South State Corporation stock price after Wednesday trading.
(Updated on Mar 27, 2024)
The South State Corporation stock price gained 3.94% on the last trading day (Wednesday, 27th Mar 2024), rising from $80.94 to $84.13. During the last trading day the stock fluctuated 3.24% from a day low at $81.53 to a day high of $84.17. The price has fallen in 6 of the last 10 days but is still up by 2.62% 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, 93 thousand more shares were traded than the day before. In total, 264 thousand shares were bought and sold for approximately $22.20 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect South State Corporation stock with a 90% probability to be traded between $77.95 and $85.92 at the end of this 3-month period. 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 top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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SSB Signals & Forecast
The South State 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 $81.82 and $82.38. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, March 18, 2024, and so far it has risen 6.14%. 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 South State Corporation stock
South State Corporation finds support from accumulated volume at $83.51 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $2.64 (3.24%) between high and low. For the last week, the stock has had daily average volatility of 2.29%.
Our recommended stop-loss: $80.44 (-4.38%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 7 days ago.)
Trading Expectations (SSB) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect South State Corporation to open at $83.28, and during the day (based on 14 day Average True Range), to move between $82.06 and $86.20, which gives a possible trading interval of +/-$2.07 (+/-2.46%) up or down from last closing price. If South State Corporation takes out the full calculated possible swing range there will be an estimated 4.91% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $84.48 (0.42%) than the support at $83.51 (0.74%), 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 South State Corporation stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for South State Corporation stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.134 Buy Candidate Upgraded
Predicted Opening Price for South State Corporation of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$83.28 ( 1.01%) | $84.13 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SSB
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 85.92 | 2.12 % | |
R2 | 84.91 | 0.92 % | ||
R1 | 84.29 | 0.184 % | ||
Current price: | 84.13 | |||
Support | S1 | 82.27 | -2.21 % | |
S2 | 81.65 | -2.95 % | ||
S3 | 80.64 | -4.15 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 87.13 | 3.57 % | |
R2 | 85.35 | 1.45 % | ||
R1 | 84.48 | 0.416 % | ||
Current price | 84.13 | |||
Support | S1 | 83.51 | -0.737% | |
S2 | 82.31 | -2.16% | ||
S3 | 80.99 | -3.73% |
SSB Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jan 24, 2024 | Feb 08, 2024 | Feb 16, 2024 | $0.520 | 0.609% |
2 | Oct 25, 2023 | Nov 09, 2023 | Nov 17, 2023 | $0.520 | 0.690% |
3 | Jul 26, 2023 | Aug 10, 2023 | Aug 18, 2023 | $0.520 | 0.721% |
4 | Apr 26, 2023 | May 11, 2023 | May 19, 2023 | $0.500 | 0.790% |
5 | Jan 26, 2023 | Feb 09, 2023 | May 19, 2023 | $0.500 | 0.790% |
FAQ
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