Stronger technical forecast for First Bancorp stock price after Friday trading.
(Updated on Nov 26, 2021)
Hold candidate since 2021-11-26 PDF
The First Bancorp stock price fell by -4.57% on the last day (Friday, 26th Nov 2021) from $48.11 to $45.91. and has now fallen 3 days in a row. During the day the stock fluctuated 3.86% from a day low at $44.72 to a day high of $46.45. The price has fallen in 8 of the last 10 days and is down by -9.07% for this period. Volume has increased on the last day by 51 thousand 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, 132 thousand shares were bought and sold for approximately $6.04 million.
Given the current short-term trend, the stock is expected to rise 26.5% during the next 3 months and, with a 90% probability hold a price between $58.08 and $66.07 at the end of this 3-month period.
Signals & Forecast
There are few to no technical positive signals at the moment. The First Bancorp 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 $48.05 and $48.48. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, November 11, 2021, and so far it has fallen -9.07%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss
First Bancorp finds support from accumulated volume at $45.88 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 with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $1.73 between high and low, or 3.86%. For the last week the stock has had a daily average volatility of 2.49%.
Our recommended stop-loss: $43.51 (-5.23%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 10 days ago.)
Is First Bancorp stock A Buy?
First Bancorp holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.722
Predicted Opening Price for First Bancorp of Monday, November 29, 2021
The predicted opening price is based on yesterday's movements between high, low, and the closing price.
|Fair opening price November 29, 2021||Current price|
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On Oct 12, 2021 "Piper Sandler" gave "$52.00" rating for FBNC. The price target was set to $49.75+4.0%.
FBNC Insider Trading
|Sep 20, 2021||Buy||650||Perry Dexter V||Common Stock|
|Jul 27, 2021||Buy||9 667||Mayer Michael Goodwin||Common Stock|
|Jul 27, 2021||Buy||1 989||Credle Eric P||Common Stock|
|Jul 27, 2021||Buy||12 245||Moore Richard H||Common Stock|
|Jul 24, 2021||Sell||1 850||Mayer Michael Goodwin||Common Stock|
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