PennyMac Financial Services Inc Stock Forecast
Stronger technical forecast for PennyMac Financial Services Inc stock price after Friday trading.
(Updated on Apr 26, 2024)
The PennyMac Financial Services Inc stock price gained 0.93% on the last trading day (Friday, 26th Apr 2024), rising from $86.20 to $87.00. During the last trading day the stock fluctuated 2.31% from a day low at $85.37 to a day high of $87.34. The price has risen in 6 of the last 10 days but is still down by -1.06% for this period. Volume fell on the last day by -620 thousand shares and in total, 445 thousand shares were bought and sold for approximately $38.73 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 is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect PennyMac Financial Services Inc stock with a 90% probability to be traded between $84.14 and $92.96 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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PFSI Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 0.93%. Further rise is indicated until a new top pivot has been found. 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 PennyMac Financial Services Inc 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 $89.07 and $88.37. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for PennyMac Financial Services Inc stock
PennyMac Financial Services Inc finds support from accumulated volume at $86.20 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $1.97 (2.31%) between high and low. For the last week, the stock has had daily average volatility of 3.28%.
Our recommended stop-loss: $82.40 (-5.29%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 1 day ago.)
Trading Expectations (PFSI) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect PennyMac Financial Services Inc to open at $86.57, and during the day (based on 14 day Average True Range), to move between $84.26 and $89.74, which gives a possible trading interval of +/-$2.74 (+/-3.15%) up or down from last closing price. If PennyMac Financial Services Inc takes out the full calculated possible swing range there will be an estimated 6.30% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $86.20 (0.92%) than the resistance at $89.26 (2.60%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is PennyMac Financial Services Inc stock A Buy?
PennyMac Financial Services Inc 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: -0.268 Hold/Accumulate Upgraded
Predicted Opening Price for PennyMac Financial Services Inc of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $86.57 ( 0.495%) | $87.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PFSI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 88.54 | 1.77 % | |
| R2 | 87.79 | 0.91 % | ||
| R1 | 87.32 | 0.371 % | ||
| Current price: | 87.00 | |||
| Support | S1 | 85.82 | -1.36 % | |
| S2 | 85.35 | -1.90 % | ||
| S3 | 84.60 | -2.76 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 93.24 | 7.17 % | |
| R2 | 91.09 | 4.70 % | ||
| R1 | 89.26 | 2.60 % | ||
| Current price | 87.00 | |||
| Support | S1 | 86.20 | -0.92% | |
| S2 | 86.04 | -1.10% | ||
| S3 | 85.73 | -1.46% |
PFSI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 13, 2024 | May 13, 2024 | May 24, 2024 | $0.200 | 0.230% |
| 2 | Feb 01, 2024 | Feb 12, 2024 | Feb 23, 2024 | $0.200 | 0.230% |
| 3 | Oct 26, 2023 | Nov 10, 2023 | Nov 22, 2023 | $0.200 | 0.256% |
| 4 | Jul 27, 2023 | Aug 14, 2023 | Aug 25, 2023 | $0.200 | 0.290% |
| 5 | Apr 27, 2023 | May 15, 2023 | Aug 25, 2023 | $0.200 | 0.290% |
FAQ
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