First Bancorp Stock Forecast
Is First Bancorp stock still a buy after falling -8.55% on Thursday?
(Updated on Apr 25, 2024)
The First Bancorp stock price fell by -8.55% on the last day (Thursday, 25th Apr 2024) from $34.50 to $31.55. During the last trading day the stock fluctuated 7.50% from a day low at $31.45 to a day high of $33.81. The price has been going up and down for this period, and there has been a -3.46% loss for the last 2 weeks. Volume has increased on the last day by 112 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, 256 thousand shares were bought and sold for approximately $8.08 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 -6.44% during the next 3 months and, with a 90% probability hold a price between $28.77 and $32.24 at the end of this 3-month period.
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FBNC Signals & Forecast
There are few to no technical positive signals at the moment. The First Bancorp 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 $32.56 and $33.84. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 24, 2024, and so far it has fallen -8.55%. 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). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for First Bancorp stock
First Bancorp finds support from accumulated volume at $31.26 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 $2.36 between high and low, or 7.50%. For the last week, the stock has had daily average volatility of 4.34%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (FBNC) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect First Bancorp to open at $32.27, and during the day (based on 14 day Average True Range), to move between $30.38 and $32.72, which gives a possible trading interval of +/-$1.17 (+/-3.69%) up or down from last closing price. If First Bancorp takes out the full calculated possible swing range there will be an estimated 7.39% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $31.26 (0.92%) than the resistance at $34.06 (7.96%), 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 Bancorp stock A Buy?
First Bancorp holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore 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 Buy to a Strong Sell candidate.
Current score: -5.864 Strong Sell Candidate Downgraded
Predicted Opening Price for First Bancorp of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $32.27 ( 2.28%) | $31.55 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FBNC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 34.63 | 9.76 % | |
| R2 | 33.73 | 6.90 % | ||
| R1 | 33.17 | 5.14 % | ||
| Current price: | 31.55 | |||
| Support | S1 | 31.37 | -0.575 % | |
| S2 | 30.81 | -2.34 % | ||
| S3 | 29.91 | -5.20 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 34.56 | 9.54 % | |
| R2 | 34.53 | 9.45 % | ||
| R1 | 34.06 | 7.96 % | ||
| Current price | 31.55 | |||
| Support | S1 | 31.26 | -0.92% | |
| S2 | 31.24 | -0.98% | ||
| S3 | 30.98 | -1.81% |
FBNC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 27, 2024 | Mar 27, 2024 | Apr 25, 2024 | $0.220 | 0.697% |
| 2 | Dec 15, 2023 | Dec 28, 2023 | Jan 25, 2024 | $0.220 | 0.634% |
| 3 | Sep 15, 2023 | Sep 28, 2023 | Oct 25, 2023 | $0.220 | 0.82% |
| 4 | Apr 25, 2023 | Jun 29, 2023 | Jul 25, 2023 | $0.220 | 0.641% |
| 5 | Jan 24, 2023 | Mar 30, 2023 | Apr 25, 2023 | $0.220 | 0.694% |
FAQ
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