Volatile ride for FIRST REPUBLIC BANK stock price on Tuesday moving between $12.51 and $14.24

StockInvest.us, 1 year ago

FIRST REPUBLIC BANK

The FIRST REPUBLIC BANK stock price fell by -2.32% on the last day (Tuesday, 28th Mar 2023) from $13.82 to $13.50. During the last trading day the stock fluctuated 13.83% from a day low at $12.51 to a day high of $14.24. The price has fallen in 7 of the last 10 days and is down by -65.93% 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 -60 million shares and in total, 56 million shares were bought and sold for approximately $756.38 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 $1.11 is broken, it will firstly indicate a stronger fall rate.Given the current short-term trend, the stock is expected to fall -54.46% during the next 3 months and, with a 90% probability hold a price between $0.507 and $42.15 at the end of this 3-month period.

FIRST REPUBLIC BANK

A buy signal was issued from a pivot bottom point on Monday, March 20, 2023, and so far it has risen 10.84%. Further rise is indicated until a new top pivot has been found. 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 $88.72. On a fall, the stock will find some support from the short-term average at $13.36. 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). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

FIRST REPUBLIC BANK finds support from accumulated volume at $13.33 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 $1.73 between high and low, or 13.83%. For the last week, the stock has had daily average volatility of 19.57%.

FIRST REPUBLIC BANK is oversold on RSI14 (12). 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.We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.

Check full FIRST REPUBLIC BANK forecast and analysis here.