Patriot National Bancorp Stock Forecast
Patriot National Bancorp stock upgraded to Hold/Accumulate.
(Updated on Apr 18, 2024)
The Patriot National Bancorp stock price fell by -3.08% on the last day (Thursday, 18th Apr 2024) from $3.71 to $3.60. During the last trading day the stock fluctuated 1.39% from a day low at $3.60 to a day high of $3.65. The price has fallen in 5 of the last 10 days and is down by -8.86% for this period. Volume has increased on the last day by 1 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, 1 thousand shares were bought and sold for approximately $5.07 thousand.
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 -13.84% during the next 3 months and, with a 90% probability hold a price between $2.79 and $3.47 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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PNBK Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Patriot National 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 $3.73 and $3.81. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, April 04, 2024, and so far it has fallen -8.86%. Further fall is indicated until a new bottom pivot has been found. Patriot National Bancorp gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Patriot National Bancorp stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $0.0500 (1.39%) between high and low. For the last week, the stock has had daily average volatility of 0.278%.
Our recommended stop-loss: $3.43 (-4.85%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 10 days ago.)
Trading Expectations (PNBK) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Patriot National Bancorp to open at $3.62, and during the day (based on 14 day Average True Range), to move between $3.46 and $3.74, which gives a possible trading interval of +/-$0.138 (+/-3.82%) up or down from last closing price. If Patriot National Bancorp takes out the full calculated possible swing range there will be an estimated 7.64% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $3.71, some $0.110 (3.06%) from the current price of $3.60, our system finds the risk reward not very attractive.
Is Patriot National Bancorp stock A Buy?
Patriot National Bancorp 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: 0.000 Hold/Accumulate Upgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Patriot National Bancorp of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $3.62 ( 0.463%) | $3.60 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PNBK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.67 | 1.85 % | |
| R2 | 3.65 | 1.32 % | ||
| R1 | 3.64 | 0.99 % | ||
| Current price: | 3.60 | |||
| Support | S1 | 3.60 | -0.0676 % | |
| S2 | 3.59 | -0.395 % | ||
| S3 | 3.57 | -0.93 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.90 | 8.33 % | |
| R2 | 3.83 | 6.25 % | ||
| R1 | 3.71 | 3.06 % | ||
| Current price | 3.60 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
PNBK Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Nov 29, 2019 | Dec 06, 2019 | Dec 19, 2019 | $0.0100 | 0.0801% |
| 2 | Aug 23, 2019 | Aug 30, 2019 | Sep 13, 2019 | $0.0100 | 0.0778% |
| 3 | May 24, 2019 | Jun 03, 2019 | Jun 11, 2019 | $0.0100 | 0.0649% |
| 4 | Feb 26, 2019 | Mar 08, 2019 | Mar 18, 2019 | $0.0100 | 0.0692% |
| 5 | Nov 15, 2018 | Nov 23, 2018 | Dec 04, 2018 | $0.0100 | 0.0606% |
FAQ
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