Glen Burnie Bancorp Stock Forecast
Stronger technical forecast for Glen Burnie Bancorp stock price after Friday trading.
(Updated on Apr 19, 2024)
The Glen Burnie Bancorp stock price gained 2.45% on the last trading day (Friday, 19th Apr 2024), rising from $5.10 to $5.23. During the last trading day the stock fluctuated 4.50% from a day low at $5.00 to a day high of $5.23. The price has fallen in 5 of the last 10 days and is down by -1.42% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 4 thousand more shares were traded than the day before. In total, 6 thousand shares were bought and sold for approximately $29.37 thousand.
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 -26.81% during the next 3 months and, with a 90% probability hold a price between $3.48 and $4.02 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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GLBZ Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 09, 2024, and so far it has risen 4.08%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Glen Burnie Bancorp has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Glen Burnie Bancorp stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $5.65. On a fall, the stock will find some support from the short-term average at $5.21. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.
Support, Risk & Stop-loss for Glen Burnie Bancorp stock
Glen Burnie Bancorp finds support from accumulated volume at $5.17 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 $0.225 between high and low, or 4.50%. For the last week, the stock has had daily average volatility of 2.33%.
Our recommended stop-loss: $4.96 (-5.16%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 8 days ago.)
Trading Expectations (GLBZ) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Glen Burnie Bancorp to open at $5.15, and during the day (based on 14 day Average True Range), to move between $5.06 and $5.39, which gives a possible trading interval of +/-$0.164 (+/-3.14%) up or down from last closing price. If Glen Burnie Bancorp takes out the full calculated possible swing range there will be an estimated 6.27% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $5.26 (0.67%) than the support at $5.17 (1.13%), 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 Glen Burnie Bancorp stock A Buy?
Glen Burnie 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: 0.084 Hold/Accumulate Upgraded
Predicted Opening Price for Glen Burnie Bancorp of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $5.15 ( 1.44%) | $5.23 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GLBZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.38 | 2.87 % | |
| R2 | 5.29 | 1.23 % | ||
| R1 | 5.24 | 0.210 % | ||
| Current price: | 5.23 | |||
| Support | S1 | 5.06 | -3.08 % | |
| S2 | 5.01 | -4.10 % | ||
| S3 | 4.93 | -5.74 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.28 | 20.10 % | |
| R2 | 5.30 | 1.44 % | ||
| R1 | 5.26 | 0.670 % | ||
| Current price | 5.23 | |||
| Support | S1 | 5.17 | -1.13% | |
| S2 | 5.10 | -2.39% | ||
| S3 | 5.02 | -3.92% |
GLBZ Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 12, 2024 | Apr 19, 2024 | May 06, 2024 | $0.100 | 1.87% |
| 2 | Jan 11, 2024 | Jan 19, 2024 | Feb 05, 2024 | $0.100 | 1.43% |
| 3 | Oct 12, 2023 | Oct 20, 2023 | Nov 06, 2023 | $0.100 | 1.81% |
| 4 | Jul 13, 2023 | Jul 21, 2023 | Aug 07, 2023 | $0.100 | 1.27% |
| 5 | Apr 13, 2023 | Apr 21, 2023 | May 08, 2023 | $0.100 | 1.26% |
FAQ
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