Preferred Bank Stock Forecast
Green day on Tuesday for Preferred Bank stock after gaining 1.06%
(Updated on May 14, 2024)
The Preferred Bank stock price gained 1.06% on the last trading day (Tuesday, 14th May 2024), rising from $78.33 to $79.16. During the last trading day the stock fluctuated 1.18% from a day low at $78.45 to a day high of $79.37. The price has fallen in 6 of the last 10 days but is still up by 4.58% over the past 2 weeks. Volume fell on the last day by -4 thousand shares and in total, 31 thousand shares were bought and sold for approximately $2.49 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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 $80.00 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 9.08% during the next 3 months and, with a 90% probability hold a price between $80.29 and $87.26 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
PFBC Signals & Forecast
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 $79.02 and $75.99. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. 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 Wednesday, May 08, 2024, and so far it has fallen -0.503%. Further fall is indicated until a new bottom pivot has been found.
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 $0.93 between high and low, or 1.18%. For the last week, the stock has had daily average volatility of 1.52%.
Our recommended stop-loss: $76.44 (-3.44%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 4 days ago.)
Trading Expectations (PFBC) For The Upcoming Trading Day Of Wednesday 15th
For the upcoming trading day on Wednesday, 15th we expect Preferred Bank to open at $78.99, and during the day (based on 14 day Average True Range), to move between $77.50 and $80.82, which gives a possible trading interval of +/-$1.66 (+/-2.09%) up or down from last closing price. If Preferred Bank takes out the full calculated possible swing range there will be an estimated 4.19% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $79.36 (0.25%) than the support at $77.92 (1.57%), 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 Preferred Bank 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 Preferred Bank stock to perform well in the short-term.
Current score: 3.185 Buy Candidate Unchanged
Predicted Opening Price for Preferred Bank of Wednesday, May 15, 2024
| Fair opening price May 15, 2024 | Current price |
|---|---|
| $78.99 ( 0.213%) | $79.16 |
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 | 79.92 | 0.96 % | |
| R2 | 79.56 | 0.509 % | ||
| R1 | 79.35 | 0.234 % | ||
| Current price: | 79.16 | |||
| Support | S1 | 78.64 | -0.659 % | |
| S2 | 78.42 | -0.93 % | ||
| S3 | 78.07 | -1.38 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 79.56 | 0.505 % | |
| R2 | 79.37 | 0.265 % | ||
| R1 | 79.36 | 0.253 % | ||
| Current price | 79.16 | |||
| Support | S1 | 77.92 | -1.57% | |
| S2 | 76.89 | -2.87% | ||
| S3 | 71.89 | -9.18% |
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
Click here for our free guide on how to buy Preferred Bank Stock.
