First American Corporation (The) Stock Forecast
First American Corporation (The) stock price down 0.688% on Wednesday
(Updated on Apr 24, 2024)
The First American Corporation (The) stock price fell by -0.688% on the last day (Wednesday, 24th Apr 2024) from $58.18 to $57.78. During the last trading day the stock fluctuated 1.72% from a day low at $57.05 to a day high of $58.03. The price has risen in 6 of the last 10 days and is up by 4.16% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -38 thousand shares and in total, 503 thousand shares were bought and sold for approximately $29.09 million.
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 -4.46% during the next 3 months and, with a 90% probability hold a price between $50.79 and $57.54 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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FAF Signals & Forecast
The First American Corporation (The) stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $56.43 and $57.45. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 5.07%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for First American Corporation (The) stock
First American Corporation (The) finds support from accumulated volume at $57.62 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 $0.98 between high and low, or 1.72%. For the last week, the stock has had daily average volatility of 1.84%.
Our recommended stop-loss: $55.08 (-4.68%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (FAF) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect First American Corporation (The) to open at $57.62, and during the day (based on 14 day Average True Range), to move between $56.46 and $59.10, which gives a possible trading interval of +/-$1.32 (+/-2.29%) up or down from last closing price. If First American Corporation (The) takes out the full calculated possible swing range there will be an estimated 4.58% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $57.62 (0.28%) than the resistance at $58.99 (2.09%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is First American Corporation (The) stock A Buy?
First American Corporation (The) 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.
Current score: -0.547 Hold/Accumulate Unchanged
Predicted Opening Price for First American Corporation (The) of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $57.62 ( 0.277%) | $57.78 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FAF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 58.60 | 1.42 % | |
| R2 | 58.23 | 0.771 % | ||
| R1 | 57.99 | 0.371 % | ||
| Current price: | 57.78 | |||
| Support | S1 | 57.25 | -0.92 % | |
| S2 | 57.01 | -1.33 % | ||
| S3 | 56.64 | -1.97 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 59.02 | 2.15 % | |
| R2 | 59.00 | 2.11 % | ||
| R1 | 58.99 | 2.09 % | ||
| Current price | 57.78 | |||
| Support | S1 | 57.62 | -0.277% | |
| S2 | 56.87 | -1.57% | ||
| S3 | 56.23 | -2.68% |
FAF Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 07, 2024 | Mar 07, 2024 | Mar 15, 2024 | $0.530 | 0.96% |
| 2 | Nov 07, 2023 | Dec 07, 2023 | Dec 15, 2023 | $0.530 | 0.82% |
| 3 | Aug 22, 2023 | Sep 07, 2023 | Sep 15, 2023 | $0.530 | 0.88% |
| 4 | May 09, 2023 | Jun 07, 2023 | Jun 15, 2023 | $0.520 | 0.92% |
| 5 | Jan 18, 2023 | Mar 07, 2023 | Mar 15, 2023 | $0.520 | 0.95% |
FAQ
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