Summit State Bank Stock Forecast
A very red day for Summit State Bank stock price after a -5.30% fall in the Friday trading session
(Updated on Apr 19, 2024)
The Summit State Bank stock price fell by -5.30% on the last day (Friday, 19th Apr 2024) from $10.38 to $9.83. During the last trading day the stock fluctuated 2.34% from a day low at $9.83 to a day high of $10.06. The price has fallen in 6 of the last 10 days and is down by -4.93% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -915 shares and in total, 434 shares were bought and sold for approximately $4.27 thousand.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -10.61% during the next 3 months and, with a 90% probability hold a price between $7.78 and $9.80 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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SSBI Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 0.434%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Summit State Bank stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $9.93 and $10.60. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
A buy signal from a double bottom formation was found on Monday, April 15, 2024 and based on theory for this formation the price should go up by 28.52% to $12.63 within 46 trading days since signal was issued (Monday, April 22, 2024).
Support, Risk & Stop-loss for Summit State Bank stock
Summit State Bank finds support from accumulated volume at $9.80 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.230 between high and low, or 2.34%. For the last week the stock has had daily average volatility of 2.19%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SSBI) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Summit State Bank to open at $9.91, and during the day (based on 14 day Average True Range), to move between $9.48 and $10.18, which gives a possible trading interval of +/-$0.349 (+/-3.55%) up or down from last closing price. If Summit State Bank takes out the full calculated possible swing range there will be an estimated 7.11% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $9.85 (0.20%) than the support at $9.80 (0.31%), 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.
Earnings coming up
Summit State Bank will release earnings BMO on Tuesday, April 23, 2024. We will update the financials statements for Summit State Bank, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.24% in the first trading day after earnings release.
Is Summit State Bank stock A Buy?
Summit State Bank holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -4.139 Sell Candidate Unchanged
Predicted Opening Price for Summit State Bank of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $9.91 ( 0.780%) | $9.83 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SSBI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.14 | 3.12 % | |
| R2 | 10.05 | 2.23 % | ||
| R1 | 9.99 | 1.67 % | ||
| Current price: | 9.83 | |||
| Support | S1 | 9.82 | -0.114 % | |
| S2 | 9.76 | -0.666 % | ||
| S3 | 9.68 | -1.56 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.30 | 4.78 % | |
| R2 | 10.16 | 3.36 % | ||
| R1 | 9.85 | 0.203 % | ||
| Current price | 9.83 | |||
| Support | S1 | 9.80 | -0.305% | |
| S2 | 9.79 | -0.432% | ||
| S3 | 9.75 | -0.81% |
SSBI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 29, 2024 | Feb 07, 2024 | Feb 15, 2024 | $0.120 | 1.14% |
| 2 | Oct 24, 2023 | Nov 08, 2023 | Nov 16, 2023 | $0.120 | 0.96% |
| 3 | Jul 24, 2023 | Aug 09, 2023 | Aug 17, 2023 | $0.120 | 0.734% |
| 4 | Apr 24, 2023 | May 10, 2023 | May 18, 2023 | $0.120 | 0.798% |
| 5 | Jan 23, 2023 | Feb 08, 2023 | Feb 16, 2023 | $0.120 | 0.757% |
FAQ
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