High volatility in FIRST REPUBLIC BANK stock price on Tuesday which ended trading at $8.10

The FIRST REPUBLIC BANK stock price fell by -49.38% on the last day (Tuesday, 25th Apr 2023) from $16.00 to $8.10. During the last trading day the stock fluctuated 54.70% from a day low at $7.92 to a day high of $12.25. The price has fallen in 6 of the last 10 days and is down by -42.68% for this period. Volume has increased on the last day by 107 million 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, 188 million shares were bought and sold for approximately $1.52 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 $13.05 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 $13.16 and $26.28. 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 -49.38%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

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 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 $4.33 between high and low, or 54.70%. For the last week, the stock has had daily average volatility of 18.93%.

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.Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.