First Citizens BancShares Stock Forecast
Evaluation of First Citizens BancShares stock downgraded after the last trading session.
(Updated on Apr 17, 2024)
The First Citizens BancShares stock price gained 1.14% on the last trading day (Wednesday, 17th Apr 2024), rising from $1,532.51 to $1,550.00. During the last trading day the stock fluctuated 1.41% from a day low at $1,541.81 to a day high of $1,563.53. The price has fallen in 6 of the last 10 days and is down by -1.98% for this period. Volume fell on the last day by -10 thousand shares and in total, 57 thousand shares were bought and sold for approximately $88.13 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the lower part of a strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $1,535.05 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 10.41% during the next 3 months and, with a 90% probability hold a price between $1,694.83 and $1,841.59 at the end of this 3-month period.
FCNCA Signals & Forecast
Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The First Citizens BancShares stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $1,571.94 and $1,576.77. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 28, 2024, and so far it has fallen -5.20%. 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 First Citizens BancShares stock
First Citizens BancShares finds support from accumulated volume at $1,548.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $21.72 between high and low, or 1.41%. For the last week the stock has had daily average volatility of 2.35%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (FCNCA) For The Upcoming Trading Day Of Thursday 18th
For the upcoming trading day on Thursday, 18th we expect First Citizens BancShares to open at $1,551.78, and during the day (based on 14 day Average True Range), to move between $1,511.49 and $1,588.51, which gives a possible trading interval of +/-$38.51 (+/-2.48%) up or down from last closing price. If First Citizens BancShares takes out the full calculated possible swing range there will be an estimated 4.97% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1,548.00 (0.13%) than the resistance at $1,561.80 (0.76%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
First Citizens BancShares will release earnings BMO on Thursday, April 25, 2024.The consensus among the analysts for the expected earnings (EPS) is $43.44. We will update the financials statements for First Citizens BancShares, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.79% in the first trading day after earnings release.
Is First Citizens BancShares stock A Buy?
The First Citizens BancShares stock holds several negative signals and despite the positive trend, we believe First Citizens BancShares will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -3.060 Sell Candidate Downgraded
Predicted Opening Price for First Citizens BancShares of Thursday, April 18, 2024
| Fair opening price April 18, 2024 | Current price |
|---|---|
| $1,551.78 ( 0.115%) | $1,550.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FCNCA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,573.50 | 1.52 % | |
| R2 | 1,565.20 | 0.98 % | ||
| R1 | 1,560.08 | 0.650 % | ||
| Current price: | 1,550.00 | |||
| Support | S1 | 1,543.48 | -0.420 % | |
| S2 | 1,538.36 | -0.751 % | ||
| S3 | 1,530.06 | -1.29 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,578.80 | 1.86 % | |
| R2 | 1,573.81 | 1.54 % | ||
| R1 | 1,561.80 | 0.761 % | ||
| Current price | 1,550.00 | |||
| Support | S1 | 1,548.00 | -0.129% | |
| S2 | 1,510.00 | -2.58% | ||
| S3 | 1,485.77 | -4.14% |
FCNCA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 24, 2024 | Feb 28, 2024 | Mar 15, 2024 | $1.64 | 0.106% |
| 2 | Oct 24, 2023 | Nov 29, 2023 | Dec 15, 2023 | $1.64 | 0.115% |
| 3 | Jul 25, 2023 | Aug 30, 2023 | Sep 15, 2023 | $0.750 | 0.0569% |
| 4 | Apr 25, 2023 | May 30, 2023 | Jun 15, 2023 | $0.750 | 0.0578% |
| 5 | Jan 24, 2023 | Feb 27, 2023 | Mar 15, 2023 | $0.750 | 0.139% |
FAQ
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