OceanFirst Financial Corp. Stock Forecast
Red day on Thursday for OceanFirst Financial Corp.
(Updated on May 23, 2024)
The OceanFirst Financial Corp. stock price fell by -4.16% on the last day (Thursday, 23rd May 2024) from $15.62 to $14.97. During the last trading day the stock fluctuated 4.89% from a day low at $14.92 to a day high of $15.65. The price has been going up and down for this period, and there has been a -4.59% loss for the last 2 weeks. 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 -7 thousand shares and in total, 219 thousand shares were bought and sold for approximately $3.27 million.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $14.62 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 2.14% during the next 3 months and, with a 90% probability hold a price between $14.93 and $16.99 at the end of this 3-month period.
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OCFC Signals & Forecast
There are few to no technical positive signals at the moment. The OceanFirst Financial Corp. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $15.76 and $15.34. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, May 17, 2024, and so far it has fallen -6.90%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for OceanFirst Financial Corp. stock
OceanFirst Financial Corp. finds support from accumulated volume at $14.78 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 $0.730 (4.89%) between high and low. For the last week, the stock has had daily average volatility of 2.56%.
Our recommended stop-loss: $14.28 (-4.61%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 17 days ago.)
Trading Expectations (OCFC) For The Upcoming Trading Day Of Friday 24th
For the upcoming trading day on Friday, 24th we expect OceanFirst Financial Corp. to open at $15.18, and during the day (based on 14 day Average True Range), to move between $14.56 and $15.38, which gives a possible trading interval of +/-$0.405 (+/-2.71%) up or down from last closing price. If OceanFirst Financial Corp. takes out the full calculated possible swing range there will be an estimated 5.41% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $15.01 (0.27%) than the support at $14.78 (1.27%), 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 OceanFirst Financial Corp. stock A Buy?
OceanFirst Financial Corp. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.336 Hold/Accumulate Unchanged
Predicted Opening Price for OceanFirst Financial Corp. of Friday, May 24, 2024
| Fair opening price May 24, 2024 | Current price |
|---|---|
| $15.18 ( 1.40%) | $14.97 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for OCFC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 15.91 | 6.28 % | |
| R2 | 15.63 | 4.42 % | ||
| R1 | 15.46 | 3.27 % | ||
| Current price: | 14.97 | |||
| Support | S1 | 14.90 | -0.460 % | |
| S2 | 14.73 | -1.61 % | ||
| S3 | 14.45 | -3.47 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 15.50 | 3.54 % | |
| R2 | 15.44 | 3.14 % | ||
| R1 | 15.01 | 0.267 % | ||
| Current price | 14.97 | |||
| Support | S1 | 14.78 | -1.27% | |
| S2 | 14.71 | -1.74% | ||
| S3 | 14.69 | -1.87% |
OCFC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 18, 2024 | May 03, 2024 | May 17, 2024 | $0.200 | 1.24% |
| 2 | Jan 18, 2024 | Feb 02, 2024 | Feb 16, 2024 | $0.200 | 1.27% |
| 3 | Oct 19, 2023 | Nov 03, 2023 | Nov 17, 2023 | $0.200 | 1.41% |
| 4 | Jul 18, 2023 | Aug 04, 2023 | Aug 18, 2023 | $0.200 | 1.15% |
| 5 | Apr 19, 2023 | May 05, 2023 | May 19, 2023 | $0.200 | 1.40% |
FAQ
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