Preferred Bank Stock Forecast
Preferred Bank stock upgraded to Strong Buy Candidate.
(Updated on May 15, 2024)
The Preferred Bank stock price gained 0.707% on the last trading day (Wednesday, 15th May 2024), rising from $79.16 to $79.72. During the last trading day the stock fluctuated 1.50% from a day low at $79.31 to a day high of $80.50. The price has fallen in 6 of the last 10 days but is still up by 1.94% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 52 thousand more shares were traded than the day before. In total, 83 thousand shares were bought and sold for approximately $6.64 million.
The stock lies in the upper part of a weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $80.52 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 9.42% during the next 3 months and, with a 90% probability hold a price between $80.76 and $88.11 at the end of this 3-month period.
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PFBC Signals & Forecast
Mostly positive signals in the chart today. The Preferred Bank 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 $79.10 and $76.15. 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 11.45%. Further rise is indicated until a new top pivot has been found. 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.
Support, Risk & Stop-loss for Preferred Bank stock
Preferred Bank finds support from accumulated volume at $77.92 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 $1.19 between high and low, or 1.50%. For the last week, the stock has had daily average volatility of 1.40%.
Our recommended stop-loss: $75.11 (-5.78%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 20 days ago.)
Trading Expectations (PFBC) For The Upcoming Trading Day Of Thursday 16th
For the upcoming trading day on Thursday, 16th we expect Preferred Bank to open at $79.84, and during the day (based on 14 day Average True Range), to move between $78.08 and $81.36, which gives a possible trading interval of +/-$1.64 (+/-2.05%) up or down from last closing price. If Preferred Bank takes out the full calculated possible swing range there will be an estimated 4.10% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $77.92, some $1.80 (2.26%) from the current price of $79.72, our system finds the risk reward attractive.
Is Preferred Bank stock A Buy?
Preferred Bank holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 6.653 Strong Buy Candidate Upgraded
Predicted Opening Price for Preferred Bank of Thursday, May 16, 2024
Fair opening price May 16, 2024 | Current price |
---|---|
$79.84 ( 0.155%) | $79.72 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PFBC
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 81.03 | 1.65 % | |
R2 | 80.58 | 1.08 % | ||
R1 | 80.30 | 0.725 % | ||
Current price: | 79.72 | |||
Support | S1 | 79.39 | -0.416 % | |
S2 | 79.11 | -0.768 % | ||
S3 | 78.65 | -1.34 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 79.72 | |||
Support | S1 | 77.92 | -2.26% | |
S2 | 76.89 | -3.55% | ||
S3 | 71.89 | -9.82% |
PFBC Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 20, 2024 | Apr 04, 2024 | Apr 19, 2024 | $0.700 | 0.94% |
2 | Dec 13, 2023 | Jan 05, 2024 | Jan 22, 2024 | $0.700 | 0.95% |
3 | Sep 20, 2023 | Oct 05, 2023 | Oct 20, 2023 | $0.550 | 0.92% |
4 | Jun 21, 2023 | Jul 06, 2023 | Jul 21, 2023 | $0.550 | 0.87% |
5 | Mar 27, 2023 | Apr 05, 2023 | Apr 21, 2023 | $0.550 | 1.08% |
FAQ
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