Fifth Third Bancorp Stock Forecast
Weaker technical forecast for Fifth Third Bancorp as stock downgraded to Hold/Accumulate.
(Updated on Jun 19, 2024)
No changes to the price of Fifth Third Bancorp stock on the last trading day (Wednesday, 19th Jun 2024). During the last trading day the stock fluctuated 0% from a day low at $35.86 to a day high of $35.86. The price has fallen in 5 of the last 10 days and is down by -1.23% for this period.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 2.02% during the next 3 months and, with a 90% probability hold a price between $35.28 and $39.96 at the end of this 3-month period.
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0IM1.L Signals & Forecast
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 Fifth Third Bancorp 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 $37.07. On a fall, the stock will find some support from the short-term average at $35.60. 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. A sell signal was issued from a pivot top point on Tuesday, June 18, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Fifth Third Bancorp stock
Fifth Third Bancorp finds support from accumulated volume at $35.35 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0 between high and low, or 0%. For the last week the stock has had daily average volatility of 0.327%
Our recommended stop-loss: $34.42 (-4.02%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 6 days ago.)
Trading Expectations (0IM1.L) For The Upcoming Trading Day Of Thursday 20th
For the upcoming trading day on Thursday, 20th we expect Fifth Third Bancorp to open at $35.86, and during the day (based on 14 day Average True Range), to move between $35.22 and $36.50, which gives a possible trading interval of +/-$0.641 (+/-1.79%) up or down from last closing price. If Fifth Third Bancorp takes out the full calculated possible swing range there will be an estimated 3.57% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $35.96 (0.27%) than the support at $35.35 (1.41%), 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 Fifth Third Bancorp stock A Buy?
Fifth Third Bancorp holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: -0.687 Hold/Accumulate Downgraded
Predicted Opening Price for Fifth Third Bancorp of Thursday, June 20, 2024
Fair opening price June 20, 2024 | Current price |
---|---|
$35.86 ( 0%) | $35.86 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0IM1.L
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 35.86 | - |
R2 | 35.86 | - |
R1 | 35.86 | - |
Price | 35.86 | |
S1 | 35.86 | - |
S2 | 35.86 | - |
S3 | 35.86 | - |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 38.15 | 6.40% |
R2 | 36.22 | 1.01% |
R1 | 35.96 | 0.274% |
Price | 35.86 | |
S1 | 35.35 | -1.41% |
S2 | 35.19 | -1.86% |
S3 | 34.82 | -2.89% |
0IM1 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jun 28, 2024 | Jun 28, 2024 | Jul 15, 2024 | $0.350 | 0.98% |
2 | Mar 27, 2024 | Mar 27, 2024 | Apr 15, 2024 | $0.350 | 1.01% |
3 | Dec 28, 2023 | Dec 28, 2023 | Dec 28, 2023 | $0.350 | 1.01% |
4 | Sep 28, 2023 | Sep 28, 2023 | Sep 28, 2023 | $0.350 | 1.40% |
5 | Jun 29, 2023 | Jun 29, 2023 | Jun 29, 2023 | $0.330 | 1.26% |
FAQ
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