Popular Stock Forecast
Popular stock upgraded to Buy Candidate.
(Updated on Apr 22, 2024)
The Popular stock price gained 2.46% on the last trading day (Monday, 22nd Apr 2024), rising from $83.20 to $85.25. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 3.33% from a day low at $83.08 to a day high of $85.85. The price has fallen in 6 of the last 10 days and is down by -0.76% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 53 thousand more shares were traded than the day before. In total, 422 thousand shares were bought and sold for approximately $36.01 million.
The stock is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Popular stock with a 90% probability to be traded between $79.84 and $87.42 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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BPOP Signals & Forecast
The Popular stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $82.51 and $84.42. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 5.42%. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Popular stock
Popular finds support from accumulated volume at $84.42 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $2.77 (3.33%) between high and low. For the last week, the stock has had daily average volatility of 2.19%.
Our recommended stop-loss: $81.65 (-4.22%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 3 days ago.)
Trading Expectations (BPOP) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect Popular to open at $84.73, and during the day (based on 14 day Average True Range), to move between $83.40 and $87.10, which gives a possible trading interval of +/-$1.85 (+/-2.16%) up or down from last closing price. If Popular takes out the full calculated possible swing range there will be an estimated 4.33% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $85.32 (0.08%) than the support at $84.42 (0.97%), 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.
Earnings coming up
Popular will release earnings BMO on Tuesday, April 23, 2024.The consensus among the analysts for the expected earnings (EPS) is $1.96. We will update the financials statements for Popular, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 6.35% in the first trading day after earnings release.
Is Popular stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Popular stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.445 Buy Candidate Upgraded
Predicted Opening Price for Popular of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| $84.73 ( 0.614%) | $85.25 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BPOP
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 87.50 | 2.64 % | |
| R2 | 86.44 | 1.39 % | ||
| R1 | 85.78 | 0.627 % | ||
| Current price: | 85.25 | |||
| Support | S1 | 83.67 | -1.86 % | |
| S2 | 83.01 | -2.62 % | ||
| S3 | 81.96 | -3.86 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 85.83 | 0.680 % | |
| R2 | 85.45 | 0.235 % | ||
| R1 | 85.32 | 0.0821 % | ||
| Current price | 85.25 | |||
| Support | S1 | 84.42 | -0.97% | |
| S2 | 83.49 | -2.06% | ||
| S3 | 82.25 | -3.52% |
BPOP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 23, 2024 | Mar 13, 2024 | Apr 01, 2024 | $0.620 | 0.709% |
| 2 | Dec 06, 2023 | Dec 06, 2023 | Jan 02, 2024 | $0.620 | 0.755% |
| 3 | Aug 18, 2023 | Sep 07, 2023 | Oct 02, 2023 | $0.550 | 0.89% |
| 4 | May 11, 2023 | May 31, 2023 | Jul 03, 2023 | $0.550 | 0.89% |
| 5 | Feb 28, 2023 | Mar 17, 2023 | Apr 03, 2023 | $0.550 | 0.96% |
FAQ
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