PennyMac Financial Services Inc Stock Forecast
PennyMac Financial Services Inc stock upgraded to Buy Candidate.
(Updated on May 08, 2024)
The PennyMac Financial Services Inc stock price fell by -0.369% on the last day (Wednesday, 8th May 2024) from $92.10 to $91.76. During the last trading day the stock fluctuated 1.33% from a day low at $90.93 to a day high of $92.14. The price has risen in 6 of the last 10 days but is still down by -0.34% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -90 thousand shares and in total, 124 thousand shares were bought and sold for approximately $11.40 million.
The stock lies in the middle of a 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 2.76% during the next 3 months and, with a 90% probability hold a price between $88.26 and $95.82 at the end of this 3-month period.
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PFSI Signals & Forecast
The PennyMac Financial Services 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 $89.62 and $89.16. 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). 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 Monday, May 06, 2024, and so far it has fallen -1.22%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
A sell signal from a double top formation was found on Monday, May 06, 2024 and based on theory for this formation the price should fall by -12.93% to $79.89 within 9 trading days since signal was issued (Thursday, May 09, 2024).
Support, Risk & Stop-loss for PennyMac Financial Services Inc stock
PennyMac Financial Services Inc finds support from accumulated volume at $91.09 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 $1.21 between high and low, or 1.33%. For the last week, the stock has had daily average volatility of 1.93%.
Our recommended stop-loss: $87.87 (-4.24%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (PFSI) For The Upcoming Trading Day Of Thursday 9th
For the upcoming trading day on Thursday, 9th we expect PennyMac Financial Services Inc to open at $91.61, and during the day (based on 14 day Average True Range), to move between $89.25 and $94.27, which gives a possible trading interval of +/-$2.51 (+/-2.73%) up or down from last closing price. If PennyMac Financial Services Inc takes out the full calculated possible swing range there will be an estimated 5.47% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $92.07 (0.34%) than the support at $91.09 (0.73%), 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 PennyMac Financial Services 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 PennyMac Financial Services 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: 1.348 Buy Candidate Upgraded
Predicted Opening Price for PennyMac Financial Services Inc of Thursday, May 9, 2024
| Fair opening price May 9, 2024 | Current price |
|---|---|
| $91.61 ( 0.163%) | $91.76 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PFSI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 92.82 | 1.16 % | |
| R2 | 92.36 | 0.651 % | ||
| R1 | 92.07 | 0.340 % | ||
| Current price: | 91.76 | |||
| Support | S1 | 91.15 | -0.667 % | |
| S2 | 90.86 | -0.98 % | ||
| S3 | 90.40 | -1.48 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 92.89 | 1.23 % | |
| R2 | 92.09 | 0.360 % | ||
| R1 | 92.07 | 0.338 % | ||
| Current price | 91.76 | |||
| Support | S1 | 91.09 | -0.730% | |
| S2 | 87.00 | -5.19% | ||
| S3 | 86.20 | -6.06% |
PFSI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 13, 2024 | May 13, 2024 | May 24, 2024 | $0.200 | 0.218% |
| 2 | Feb 01, 2024 | Feb 12, 2024 | Feb 23, 2024 | $0.200 | 0.230% |
| 3 | Oct 26, 2023 | Nov 10, 2023 | Nov 22, 2023 | $0.200 | 0.256% |
| 4 | Jul 27, 2023 | Aug 14, 2023 | Aug 25, 2023 | $0.200 | 0.290% |
| 5 | Apr 27, 2023 | May 15, 2023 | Aug 25, 2023 | $0.200 | 0.290% |
FAQ
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