Piedmont Office Realty Trust Inc Stock Forecast
Piedmont Office Realty Trust Inc stock upgraded to Buy Candidate.
(Updated on May 03, 2024)
The Piedmont Office Realty Trust Inc stock price gained 1.10% on the last trading day (Friday, 3rd May 2024), rising from $6.83 to $6.91. During the last trading day the stock fluctuated 5.22% from a day low at $6.80 to a day high of $7.15. The price has been going up and down for this period, and there has been a 6.23% 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, 7 thousand more shares were traded than the day before. In total, 524 thousand shares were bought and sold for approximately $3.62 million.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 6.32% during the next 3 months and, with a 90% probability hold a price between $6.70 and $7.75 at the end of this 3-month period.
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PDM Signals & Forecast
The Piedmont Office Realty Trust Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $6.82 and $6.65. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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. A sell signal was issued from a pivot top point on Tuesday, April 23, 2024, and so far it has fallen -0.93%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Piedmont Office Realty Trust Inc stock
Piedmont Office Realty Trust Inc finds support from accumulated volume at $6.89 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 $0.355 between high and low, or 5.22%. For the last week, the stock has had daily average volatility of 3.42%.
Our recommended stop-loss: $6.63 (-4.00%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 8 days ago.)
Trading Expectations (PDM) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Piedmont Office Realty Trust Inc to open at $6.95, and during the day (based on 14 day Average True Range), to move between $6.67 and $7.14, which gives a possible trading interval of +/-$0.232 (+/-3.37%) up or down from last closing price. If Piedmont Office Realty Trust Inc takes out the full calculated possible swing range there will be an estimated 6.73% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $6.89 (0.22%) than the resistance at $6.95 (0.65%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Piedmont Office Realty Trust Inc stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Piedmont Office Realty Trust Inc stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 2.833 Buy Candidate Upgraded
Predicted Opening Price for Piedmont Office Realty Trust Inc of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $6.95 ( 0.652%) | $6.91 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PDM
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.31 | 5.79 % | |
| R2 | 7.17 | 3.83 % | ||
| R1 | 7.09 | 2.62 % | ||
| Current price: | 6.91 | |||
| Support | S1 | 6.81 | -1.31 % | |
| S2 | 6.73 | -2.53 % | ||
| S3 | 6.60 | -4.49 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.03 | 1.81 % | |
| R2 | 6.97 | 0.94 % | ||
| R1 | 6.95 | 0.652 % | ||
| Current price | 6.91 | |||
| Support | S1 | 6.89 | -0.217% | |
| S2 | 6.39 | -7.46% | ||
| S3 | 6.28 | -9.05% |
PDM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 24, 2024 | May 23, 2024 | Jun 14, 2024 | $0.125 | 1.81% |
| 2 | Feb 01, 2024 | Feb 22, 2024 | Mar 15, 2024 | $0.125 | 1.98% |
| 3 | Oct 25, 2023 | Nov 22, 2023 | Jan 02, 2024 | $0.130 | 1.76% |
| 4 | Jul 26, 2023 | Aug 24, 2023 | Sep 15, 2023 | $0.125 | 1.97% |
| 5 | May 01, 2023 | May 25, 2023 | Jun 16, 2023 | $0.210 | 2.96% |
FAQ
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