First Bancorp Stock Forecast
Green day on Wednesday for First Bancorp stock after gaining 1.14%
(Updated on Apr 24, 2024)
The First Bancorp stock price gained 1.14% on the last trading day (Wednesday, 24th Apr 2024), rising from $34.11 to $34.50. It has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.95% from a day low at $33.61 to a day high of $34.60. The price has been going up and down for this period, and there has been a 5.38% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 8 thousand more shares were traded than the day before. In total, 144 thousand shares were bought and sold for approximately $4.96 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 -5.74% during the next 3 months and, with a 90% probability hold a price between $29.04 and $33.45 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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FBNC Signals & Forecast
The First Bancorp 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 $32.52 and $33.93. 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 11.36%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. 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).
Support, Risk & Stop-loss for First Bancorp stock
First Bancorp finds support from accumulated volume at $34.20 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 $0.99 between high and low, or 2.95%. For the last week, the stock has had daily average volatility of 3.31%.
Our recommended stop-loss: $33.13 (-3.96%) (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 (FBNC) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect First Bancorp to open at $34.24, and during the day (based on 14 day Average True Range), to move between $33.48 and $35.52, which gives a possible trading interval of +/-$1.02 (+/-2.95%) up or down from last closing price. If First Bancorp takes out the full calculated possible swing range there will be an estimated 5.91% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $34.53 (0.09%) than the support at $34.20 (0.87%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is First Bancorp stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 3.157 Buy Candidate Unchanged
Predicted Opening Price for First Bancorp of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $34.24 ( 0.763%) | $34.50 |
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 | 35.23 | 2.11 % | |
| R2 | 34.85 | 1.01 % | ||
| R1 | 34.61 | 0.333 % | ||
| Current price: | 34.50 | |||
| Support | S1 | 33.86 | -1.86 % | |
| S2 | 33.62 | -2.54 % | ||
| S3 | 33.25 | -3.63 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 34.95 | 1.30 % | |
| R2 | 34.56 | 0.174 % | ||
| R1 | 34.53 | 0.0870 % | ||
| Current price | 34.50 | |||
| Support | S1 | 34.20 | -0.87% | |
| S2 | 34.06 | -1.28% | ||
| S3 | 32.74 | -5.10% |
FBNC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 27, 2024 | Mar 27, 2024 | Apr 25, 2024 | $0.220 | 0.639% |
| 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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