Big movements in FIRST REPUBLIC BANK stock price on Wednesday moving 13.28% between high and low

The FIRST REPUBLIC BANK stock price gained 5.63% on the last trading day (Wednesday, 29th Mar 2023), rising from $13.50 to $14.26. During the last trading day the stock fluctuated 13.28% from a day low at $13.18 to a day high of $14.93. The price has fallen in 6 of the last 10 days and is down by -54.24% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 8 million more shares were traded than the day before. In total, 64 million shares were bought and sold for approximately $908.27 million.

Piper Sandler is very positive about FRC and gave it a "" rating on Feb 08, 2023. The price target was set to 145.Over the last 90 days, this security got 5 buy, 0 sell, and 0 hold ratings.

The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at -$1.59 is broken, it will firstly indicate a stronger fall rate.Due to the high volatility and the trend direction we are not able to give forecast range for this stock.

A buy signal was issued from a pivot bottom point on Monday, March 20, 2023, and so far it has risen 17.08%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The FIRST REPUBLIC BANK stock holds a buy signal from the short-term moving average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term moving average at $85.02. On a fall, the stock will find some support from the short-term average at $13.65. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

FIRST REPUBLIC BANK finds support from accumulated volume at $13.82 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $1.75 between high and low, or 13.28%. For the last week, the stock has had daily average volatility of 16.34%.

FIRST REPUBLIC BANK is oversold on RSI14 (15). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.

FIRST REPUBLIC BANK holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.