Principal Financial Group Inc Stock Forecast
Principal Financial Group Inc stock downgraded to Hold/Accumulate
(Updated on May 06, 2024)
The Principal Financial Group Inc stock price gained 1.77% on the last trading day (Monday, 6th May 2024), rising from $81.21 to $82.65. It has now gained 4 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 1.19% from a day low at $81.73 to a day high of $82.70. The price has risen in 7 of the last 10 days and is up by 1.6% over the past 2 weeks. Volume fell on the last day by -141 thousand shares and in total, 606 thousand shares were bought and sold for approximately $50.06 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 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 2.22% during the next 3 months and, with a 90% probability hold a price between $80.43 and $89.05 at the end of this 3-month period.
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PFG Signals & Forecast
The Principal Financial Group Inc 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 $80.41 and $82.22. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 5.62%. 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 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.
Support, Risk & Stop-loss for Principal Financial Group Inc stock
Principal Financial Group Inc finds support from accumulated volume at $82.55 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.97 (1.19%) between high and low. For the last week, the stock has had daily average volatility of 1.77%.
Our recommended stop-loss: $78.94 (-4.49%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 14 days ago.)
Trading Expectations (PFG) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Principal Financial Group Inc to open at $82.36, and during the day (based on 14 day Average True Range), to move between $81.08 and $84.22, which gives a possible trading interval of +/-$1.57 (+/-1.90%) up or down from last closing price. If Principal Financial Group Inc takes out the full calculated possible swing range there will be an estimated 3.80% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $82.55 (0.12%) than the resistance at $84.01 (1.65%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Principal Financial Group Inc stock A Buy?
Principal Financial Group Inc holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.988 Hold/Accumulate Downgraded
Predicted Opening Price for Principal Financial Group Inc of Tuesday, May 7, 2024
Fair opening price May 7, 2024 | Current price |
---|---|
$82.36 ( 0.351%) | $82.65 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PFG
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 83.33 | 0.82 % | |
R2 | 82.96 | 0.374 % | ||
R1 | 82.73 | 0.0974 % | ||
Current price: | 82.65 | |||
Support | S1 | 81.99 | -0.799 % | |
S2 | 81.76 | -1.08 % | ||
S3 | 81.39 | -1.52 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 85.34 | 3.25 % | |
R2 | 84.49 | 2.23 % | ||
R1 | 84.01 | 1.65 % | ||
Current price | 82.65 | |||
Support | S1 | 82.55 | -0.121% | |
S2 | 79.97 | -3.24% | ||
S3 | 79.26 | -4.10% |
PFG Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 25, 2024 | Jun 03, 2024 | Jun 27, 2024 | $0.710 | 0.86% |
2 | Feb 09, 2024 | Mar 11, 2024 | Mar 28, 2024 | $0.690 | 0.799% |
3 | Oct 26, 2023 | Nov 30, 2023 | Dec 20, 2023 | $0.670 | 0.86% |
4 | Jul 26, 2023 | Sep 06, 2023 | Sep 29, 2023 | $0.650 | 0.90% |
5 | Apr 26, 2023 | May 31, 2023 | Jun 30, 2023 | $0.640 | 0.84% |
FAQ
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