BNC Bancorp Stock Forecast
BNC Bancorp stock upgraded to Hold/Accumulate.
(Updated on Apr 23, 2024)
The BNC Bancorp stock price fell by -3.81% on the last day (Tuesday, 23rd Apr 2024) from $22.30 to $21.45. During the last trading day the stock fluctuated 2.61% from a day low at $21.44 to a day high of $22.00. The price has risen in 7 of the last 10 days but is still down by -1.06% for this period. Volume has increased on the last day by 3 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 5 thousand shares were bought and sold for approximately $106.39 thousand.
The stock lies in the lower part of a very wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $20.86 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 7.66% during the next 3 months and, with a 90% probability hold a price between $22.46 and $28.37 at the end of this 3-month period.
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YZCAY Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 05, 2024, and so far it has risen 4.63%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The BNC Bancorp stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $22.69 and $22.56. A break-up above any of these levels will issue buy signals. BNC Bancorp gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for BNC Bancorp stock
BNC Bancorp finds support from accumulated volume at $21.33 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 $0.560 between high and low, or 2.61%. For the last week, the stock has had daily average volatility of 2.02%.
Our recommended stop-loss: $20.53 (-4.28%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 12 days ago.)
Trading Expectations (YZCAY) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect BNC Bancorp to open at $21.63, and during the day (based on 14 day Average True Range), to move between $20.89 and $22.01, which gives a possible trading interval of +/-$0.559 (+/-2.60%) up or down from last closing price. If BNC Bancorp takes out the full calculated possible swing range there will be an estimated 5.21% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $21.33 (0.56%) than the resistance at $22.27 (3.80%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is BNC Bancorp stock A Buy?
BNC Bancorp holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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: -0.579 Hold/Accumulate Upgraded
Predicted Opening Price for BNC Bancorp of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $21.63 ( 0.84%) | $21.45 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for YZCAY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 22.19 | 3.45 % | |
| R2 | 21.98 | 2.45 % | ||
| R1 | 21.84 | 1.84 % | ||
| Current price: | 21.45 | |||
| Support | S1 | 21.42 | -0.158 % | |
| S2 | 21.28 | -0.774 % | ||
| S3 | 21.07 | -1.77 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 22.90 | 6.76 % | |
| R2 | 22.52 | 4.99 % | ||
| R1 | 22.27 | 3.80 % | ||
| Current price | 21.45 | |||
| Support | S1 | 21.33 | -0.559% | |
| S2 | 20.85 | -2.80% | ||
| S3 | 20.32 | -5.27% |
YZCAY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 07, 2023 | Jul 03, 2023 | Aug 14, 2023 | $1.74 | 11.69% |
| 2 | Jul 01, 2022 | Jul 01, 2022 | Aug 01, 2022 | $0.597 | 2.83% |
| 3 | Jun 22, 2021 | Jun 22, 2021 | Aug 13, 2021 | $0.623 | 6.61% |
| 4 | Jun 24, 2020 | Jun 24, 2020 | Aug 17, 2020 | $0.82 | 15.13% |
| 5 | Nov 07, 2019 | Nov 07, 2019 | Dec 23, 2019 | $1.42 | 23.84% |
FAQ
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