Stock Yards Bancorp Stock Forecast
Stronger technical forecast for Stock Yards Bancorp stock price after Tuesday trading.
(Updated on Apr 23, 2024)
The Stock Yards Bancorp stock price gained 1.76% on the last trading day (Tuesday, 23rd Apr 2024), rising from $44.90 to $45.69. During the last trading day the stock fluctuated 2.92% from a day low at $44.79 to a day high of $46.10. The price has fallen in 6 of the last 10 days and is down by -2.93% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 14 thousand more shares were traded than the day before. In total, 82 thousand shares were bought and sold for approximately $3.76 million.
The stock lies in the middle of a 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 -8.86% during the next 3 months and, with a 90% probability hold a price between $37.42 and $44.06 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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SYBT Signals & Forecast
The Stock Yards Bancorp 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 $44.01 and $45.32. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 7.89%. 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 Stock Yards Bancorp stock
Stock Yards Bancorp finds support from accumulated volume at $43.77 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $1.31 between high and low, or 2.92%. For the last week, the stock has had daily average volatility of 3.16%.
Our recommended stop-loss: $43.83 (-4.08%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 4 days ago.)
Trading Expectations (SYBT) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Stock Yards Bancorp to open at $45.53, and during the day (based on 14 day Average True Range), to move between $44.34 and $47.04, which gives a possible trading interval of +/-$1.35 (+/-2.96%) up or down from last closing price. If Stock Yards Bancorp takes out the full calculated possible swing range there will be an estimated 5.93% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $45.93 (0.53%) than the support at $43.77 (4.20%), 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
Stock Yards Bancorp will release earnings BMO on Wednesday, April 24, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.82. We will update the financials statements for Stock Yards Bancorp, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.26% in the first trading day after earnings release.
Is Stock Yards Bancorp stock A Buy?
Stock Yards Bancorp holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.720 Hold/Accumulate Upgraded
Predicted Opening Price for Stock Yards Bancorp of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $45.53 ( 0.357%) | $45.69 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SYBT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 46.84 | 2.51 % | |
| R2 | 46.34 | 1.41 % | ||
| R1 | 46.03 | 0.738 % | ||
| Current price: | 45.69 | |||
| Support | S1 | 45.03 | -1.45 % | |
| S2 | 44.72 | -2.13 % | ||
| S3 | 44.22 | -3.22 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 48.91 | 7.05 % | |
| R2 | 46.63 | 2.06 % | ||
| R1 | 45.93 | 0.525 % | ||
| Current price | 45.69 | |||
| Support | S1 | 43.77 | -4.20% | |
| S2 | 42.98 | -5.93% | ||
| S3 | 42.35 | -7.31% |
SYBT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 20, 2024 | Mar 15, 2024 | Apr 01, 2024 | $0.300 | 0.629% |
| 2 | Nov 21, 2023 | Dec 15, 2023 | Dec 29, 2023 | $0.300 | 0.583% |
| 3 | Aug 15, 2023 | Sep 15, 2023 | Oct 02, 2023 | $0.300 | 0.770% |
| 4 | May 16, 2023 | Jun 16, 2023 | Jul 03, 2023 | $0.290 | 0.628% |
| 5 | Feb 21, 2023 | Mar 17, 2023 | Apr 03, 2023 | $0.290 | 0.532% |
FAQ
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