Popular Stock Forecast
Stronger technical forecast for Popular stock price after Friday trading.
(Updated on Apr 26, 2024)
The Popular stock price fell by -1.54% on the last day (Friday, 26th Apr 2024) from $87.93 to $86.58. During the last trading day the stock fluctuated 2.20% from a day low at $86.58 to a day high of $88.49. The price has been going up and down for this period, and there has been a 4.63% gain for the last 2 weeks. Volume has increased on the last day by 47 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 261 thousand shares were bought and sold for approximately $22.59 million.
The stock is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Popular stock with a 90% probability to be traded between $80.98 and $88.47 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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BPOP Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Wednesday, April 24, 2024, and so far it has fallen -2.01%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. The Popular 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 $85.86 and $84.86. A breakdown below any of these levels will issue sell signals.
A sell signal from a double top formation was found on Wednesday, April 24, 2024 and based on theory for this formation the price should fall by -7.87% to $79.77 within 18 trading days since signal was issued (Monday, April 29, 2024).
Support, Risk & Stop-loss for Popular stock
Popular finds support from accumulated volume at $85.22 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 $1.91 between high and low, or 2.20%. For the last week, the stock has had daily average volatility of 3.64%.
Our recommended stop-loss: $83.39 (-3.69%) (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 (BPOP) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Popular to open at $87.22, and during the day (based on 14 day Average True Range), to move between $84.42 and $88.74, which gives a possible trading interval of +/-$2.16 (+/-2.50%) up or down from last closing price. If Popular takes out the full calculated possible swing range there will be an estimated 5.00% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $87.19 (0.70%) than the support at $85.22 (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 Popular stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Popular stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.203 Buy Candidate Upgraded
Predicted Opening Price for Popular of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $87.22 ( 0.733%) | $86.58 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BPOP
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 89.12 | 2.93 % | |
| R2 | 88.39 | 2.09 % | ||
| R1 | 87.94 | 1.57 % | ||
| Current price: | 86.58 | |||
| Support | S1 | 86.49 | -0.107 % | |
| S2 | 86.04 | -0.626 % | ||
| S3 | 85.31 | -1.47 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 88.94 | 2.73 % | |
| R2 | 87.88 | 1.50 % | ||
| R1 | 87.19 | 0.705 % | ||
| Current price | 86.58 | |||
| Support | S1 | 85.22 | -1.57% | |
| S2 | 84.42 | -2.49% | ||
| S3 | 82.25 | -5.00% |
BPOP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 23, 2024 | Mar 13, 2024 | Apr 01, 2024 | $0.620 | 0.709% |
| 2 | Dec 06, 2023 | Dec 06, 2023 | Jan 02, 2024 | $0.620 | 0.755% |
| 3 | Aug 18, 2023 | Sep 07, 2023 | Oct 02, 2023 | $0.550 | 0.89% |
| 4 | May 11, 2023 | May 31, 2023 | Jul 03, 2023 | $0.550 | 0.89% |
| 5 | Feb 28, 2023 | Mar 17, 2023 | Apr 03, 2023 | $0.550 | 0.96% |
FAQ
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