Big movements in FIRST REPUBLIC BANK stock price on Wednesday moving 50.40% between high and low

The FIRST REPUBLIC BANK stock price fell by -29.75% on the last day (Wednesday, 26th Apr 2023) from $8.10 to $5.69. During the last trading day the stock fluctuated 50.40% from a day low at $4.76 to a day high of $7.16. The price has fallen in 6 of the last 10 days and is down by -58.83% for this period. 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 -1 million shares and in total, 187 million shares were bought and sold for approximately $1.06 billion.

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 2 buy, 0 sell, and 0 hold ratings.

The stock lies the upper part of a very wide and falling 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 $19.01 will firstly indicate a slower falling rate, but may be the first sign of a trend shift.Due to the high volatility and the trend direction we are not able to give forecast range for this stock. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.

Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 sell signals from both short and long-term moving averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $12.09 and $23.14. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 24, 2023, and so far it has fallen -64.44%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $2.40 between high and low, or 50.40%. For the last week, the stock has had daily average volatility of 26.15%.

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