US Bancorp Stock Forecast
Green day on Wednesday for US Bancorp stock after gaining 1.08%
(Updated on Mar 27, 2024)
The US Bancorp stock price gained 1.08% on the last trading day (Wednesday, 27th Mar 2024), rising from $43.53 to $44.00. During the last trading day the stock fluctuated 1.76% from a day low at $43.26 to a day high of $44.02. The price has fallen in 6 of the last 10 days but is still up by 1.22% 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, 2 million more shares were traded than the day before. In total, 6 million shares were bought and sold for approximately $265.03 million.
The stockis at the upper part of a wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $44.48 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect US Bancorp stock with a 90% probability to be traded between $40.53 and $44.90 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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USB Signals & Forecast
The US Bancorp stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $43.54 and $42.11. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Thursday, March 21, 2024, and so far it has fallen -1.01%. 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).
Support, Risk & Stop-loss for US Bancorp stock
On the downside, the stock finds support just below today's level from accumulated volume at $40.84 and $40.82. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, US Bancorp finds support just below today's level at $40.84. If this is broken, then the next support from accumulated volume will be at $40.82 and $40.10.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.760 between high and low, or 1.76%. For the last week the stock has had daily average volatility of 2.12%.
Our recommended stop-loss: $42.14 (-4.22%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 4 days ago.)
Trading Expectations (USB) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect US Bancorp to open at $43.76, and during the day (based on 14 day Average True Range), to move between $43.01 and $44.99, which gives a possible trading interval of +/-$0.99 (+/-2.24%) up or down from last closing price. If US Bancorp takes out the full calculated possible swing range there will be an estimated 4.49% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $44.45 (1.02%) than the support at $40.84 (7.18%), 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 US Bancorp 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 US Bancorp stock to perform well in the short-term period.
Current score: 3.980 Buy Candidate Unchanged
Predicted Opening Price for US Bancorp of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$43.76 ( 0.545%) | $44.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for USB
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 44.52 | 1.18 % | |
R2 | 44.23 | 0.522 % | ||
R1 | 44.05 | 0.114 % | ||
Current price: | 44.00 | |||
Support | S1 | 43.47 | -1.21 % | |
S2 | 43.29 | -1.61 % | ||
S3 | 43.00 | -2.27 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 44.45 | 1.02 % | ||
Current price | 44.00 | |||
Support | S1 | 40.84 | -7.18% | |
S2 | 40.82 | -7.23% | ||
S3 | 40.10 | -8.86% |
USB Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 12, 2024 | Mar 27, 2024 | Apr 15, 2024 | $0.490 | 1.11% |
2 | Dec 12, 2023 | Dec 29, 2023 | Jan 16, 2024 | $0.490 | 1.18% |
3 | Dec 12, 2023 | Dec 28, 2023 | Jan 16, 2024 | $0.490 | 1.18% |
4 | Sep 12, 2023 | Sep 28, 2023 | Oct 16, 2023 | $0.480 | 1.47% |
5 | Jun 13, 2023 | Jun 29, 2023 | Jul 17, 2023 | $0.480 | 1.36% |
FAQ
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