First Bancorp Stock Forecast
Green day on Tuesday for First Bancorp
(Updated on Jul 02, 2024)
The First Bancorp stock price gained 2.94% on the last trading day (Tuesday, 2nd Jul 2024), rising from $31.65 to $32.58. During the last trading day the stock fluctuated 5.00% from a day low at $31.18 to a day high of $32.74. The price has risen in 6 of the last 10 days and is up by 6.4% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 22 thousand more shares were traded than the day before. In total, 161 thousand shares were bought and sold for approximately $5.24 million.
The stockhas broken the wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $32.55, a level that may pose a second chance to hit a runner. According to fan-theory $36.27 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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FBNC Signals & Forecast
Mostly positive signals in the chart today. The First Bancorp stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $31.21 and $31.20. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 11, 2024, and so far it has risen 9.37%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for First Bancorp stock
First Bancorp finds support from accumulated volume at $31.92 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 $1.56 between high and low, or 5.00%. For the last week the stock has had daily average volatility of 3.93%.
Our recommended stop-loss: $31.37 (-3.73%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 30 days ago.)
Trading Expectations (FBNC) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect First Bancorp to open at $32.16, and during the day (based on 14 day Average True Range), to move between $31.70 and $33.46, which gives a possible trading interval of +/-$0.88 (+/-2.69%) up or down from last closing price. If First Bancorp takes out the full calculated possible swing range there will be an estimated 5.38% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $32.74 (0.49%) than the support at $31.92 (2.03%), 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 First Bancorp stock A Buy?
Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period.
Current score: 2.165 Buy Candidate Unchanged
Predicted Opening Price for First Bancorp of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $32.16 ( 1.28%) | $32.58 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FBNC
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 33.72 | 3.51% |
| R2 | 33.13 | 1.68% |
| R1 | 32.76 | 0.550% |
| Price | 32.58 | |
| S1 | 31.57 | -3.10% |
| S2 | 31.20 | -4.23% |
| S3 | 30.61 | -6.06% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 34.50 | 5.89% |
| R2 | 34.11 | 4.70% |
| R1 | 32.74 | 0.491% |
| Price | 32.58 | |
| S1 | 31.92 | -2.03% |
| S2 | 31.55 | -3.16% |
| S3 | 30.22 | -7.24% |
FBNC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 14, 2024 | Jun 28, 2024 | Jul 25, 2024 | $0.220 | 0.675% |
| 2 | Mar 27, 2024 | Mar 27, 2024 | Apr 25, 2024 | $0.220 | 0.697% |
| 3 | Dec 15, 2023 | Dec 28, 2023 | Jan 25, 2024 | $0.220 | 0.634% |
| 4 | Sep 15, 2023 | Sep 28, 2023 | Oct 25, 2023 | $0.220 | 0.82% |
| 5 | Apr 25, 2023 | Jun 29, 2023 | Jul 25, 2023 | $0.220 | 0.641% |
FAQ
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