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USA A1 Trading Advice (A) | 24-Jul-2024 | Expected Gain 6%-8%

SHORT TERM TRADING ADVICE IN USA

 BUY   Business First Bancshares (NASDAQ: BFST)

Business First Bancshares (NASDAQ: BFST) STOCK RECOMMENDATION

Idea BUY
Buy Range 24 – 24.5
Target 26 – 26.5
StopLoss* below 23.2
Duration 12-14 Trading Days
Potential Returns 6% – 8%
Idea Buy Range Target StopLoss* Duration Potential Returns
BUY 24 – 24.5 26 – 26.5 below 23.2 12-14 Trading Days 6% – 8%

* Once the first target hit, reset the StopLoss at your buying price.

Our recommendations are authentic and transparent. Find this recommendation posted in Tradingview. Be assured such records are permanent and irreversible.

 Tradingview position update

Business First Bancshares (NASDAQ: BFST) STOCK OVERVIEW

Business First Bancshares, Inc. is a bank holding company for b1BANK, offering various banking products and services in Louisiana and Texas. It provides deposit products, commercial and industrial loans, construction and development loans, commercial real estate loans, residential real estate loans, and consumer loans. The company also offers wealth management products, mutual funds, annuities, individual retirement accounts, and other financial services. Established in 2006, it is headquartered in Baton Rouge, Louisiana.

Stock Data
NASDAQ Symbol BFST
Sectoral Index Finance – Bank
52 Weeks High 25.57
52 Weeks Low 16.03

Business First Bancshares (NASDAQ: BFST) - RELATIVE STRENGTH

BFST-RELATIVE STRENGTH

Relative Performance - Last 1 Year

Business First Bancshares —     NASDAQ —

Business First Bancshares (NASDAQ: BFST) - DAILY TECHNICAL ANALYSIS

Business First Bancshares (NASDAQ: BFST) - Technical Analysis (Daily)
  • The stock faced a significant resistance around the 25 level and declined from that point.
  • Later on, the price discovered a strong support near the 13 level and created a Double Bottom pattern.
  • After a gap up, the stock price broke out and then began to consolidate.
  • During this period, an Inverted Head & Shoulder pattern appeared on the chart, indicating a bullish sentiment.
  • Despite the stock moving downwards after the breakout.
  • Afterwards, the stock price successfully reversed its trend and is now trading close to its previous resistance area.
  • The volume is also increasing, and it is anticipated that the stock will make a breakthrough this time.

Business First Bancshares (NASDAQ: BFST) - RSI

BFST-RSI
Business First Bancshares (NASDAQ: BFST) - RSI
  • Current RSI of this stock is 72.34, which indicates the strength of buyers.

Business First Bancshares (NASDAQ: BFST) - MACD

Business First Bancshares (NASDAQ: BFST) - MACD
  • MACD line has crossed the signal line from the below, generates bullish signal.

Business First Bancshares (NASDAQ: BFST) - ADX & DI

BFST-ADX & DI
Business First Bancshares (NASDAQ: BFST) - ADX & DI
  • Increasing ADX value above 20, indicated the strength of the trend, thereby uptrending ADX confirms the bullish or bearish supportive decisions. Along with the rising ADX, and the +DI is above (or crossing) -DI, indicates the long trades should be favoured.

CONCLUSION - Business First Bancshares (NASDAQ: BFST) STOCK PRICE FORECAST

Based on our stock trading advice in USA,Business First Bancshares stock price target will be USD 26 – USD 26.5 in the next 12-14 trading sessions.

Business First Bancshares (NASDAQ: BFST) TRADINGVIEW POSITION UPDATE

Buy Business First Bancshares by NaranjCapital on TradingView.com

MONEY MANAGEMENT AND TRADING RULES

1)  It’s advisable to enter/exit in the recommended range.
2)  Strictly follow the StopLoss as mentioned. Honour it.
3)  Use trailing StopLoss to retain profits.
4)  Diversify trading capital into our other trading recommendations.
5)  Risk only the money what you can afford to lose. Hedge accordingly.

Advisor / ANALYST SUMMARY

The stock trading advice is prepared by the Naranj Capital team under the guidance of Arijit Banerjee, CMT, CFTe. Arijit is a veteran trader and an active investor having in-depth knowledge of financial market research, advanced technical analysis, market cycle, algorithmic trading, and portfolio management. He is a Chartered Market Technician (CMT) accredited by CMT Association USA, the global authority of Technical Analysis and also has been honored as a Certified Financial Technician (CFTe) by the International Federation of Technical Analysts, USA.

Disclosure

The views expressed herein are based solely on information available publicly/internal data/other sources believed to be reliable, but is not necessarily all-inclusive and is not guaranteed as to accuracy. The recommendations provided herein is solely for informational purposes and are not intended to be and must not be taken alone as the basis for an investment/trading decision. Trading and investing are subject to market risk and the securities discussed and opinions expressed herein may not be suitable for all investors. To read the full disclosure, please click here.

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