First Commonwealth Financial Corporation Stock Forecast
Stronger technical forecast for First Commonwealth Financial Corporation stock price after Tuesday trading.
(Updated on Jul 02, 2024)
The First Commonwealth Financial Corporation stock price gained 1.74% on the last trading day (Tuesday, 2nd Jul 2024), rising from $13.79 to $14.03. During the last trading day the stock fluctuated 2.25% from a day low at $13.75 to a day high of $14.06. The price has risen in 7 of the last 10 days and is up by 7.59% over the past 2 weeks. Volume fell on the last day by -98 thousand shares and in total, 341 thousand shares were bought and sold for approximately $4.79 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stockis at the upper part of a wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $14.33 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect First Commonwealth Financial Corporation stock with a 90% probability to be traded between $12.86 and $14.52 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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FCF Signals & Forecast
Mostly positive signals in the chart today. The First Commonwealth Financial Corporation 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 $13.57 and $13.45. 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 9.52%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for First Commonwealth Financial Corporation stock
First Commonwealth Financial Corporation finds support from accumulated volume at $13.34 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 $0.310 (2.25%) between high and low. For the last week, the stock has had daily average volatility of 2.33%.
The First Commonwealth Financial Corporation stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought and the RSI is still moving upwards. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely, and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: $13.60 (-3.08%) (This stock has low daily movements and this gives low risk. The RSI14 is 76 and this increases the risk substantially. There is a buy signal from a pivot bottom found 30 days ago.)
Trading Expectations (FCF) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect First Commonwealth Financial Corporation to open at $13.95, and during the day (based on 14 day Average True Range), to move between $13.74 and $14.32, which gives a possible trading interval of +/-$0.286 (+/-2.04%) up or down from last closing price. If First Commonwealth Financial Corporation takes out the full calculated possible swing range there will be an estimated 4.08% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $14.12 (0.64%) than the support at $13.34 (4.92%), 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 Commonwealth Financial Corporation stock A Buy?
First Commonwealth Financial Corporation holds several positive signals and is considered to be a good choice at current levels. We expect the First Commonwealth Financial Corporation stock to perform great in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Buy candidate.
Current score: 5.440 Strong Buy Candidate Upgraded
Predicted Opening Price for First Commonwealth Financial Corporation of Wednesday, July 3, 2024
Fair opening price July 3, 2024 | Current price |
---|---|
$13.95 ( 0.594%) | $14.03 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FCF
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 14.26 | 1.62% |
R2 | 14.14 | 0.772% |
R1 | 14.07 | 0.250% |
Price | 14.03 | |
S1 | 13.83 | -1.44% |
S2 | 13.76 | -1.96% |
S3 | 13.64 | -2.80% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0 | - |
R2 | 14.24 | 1.50% |
R1 | 14.12 | 0.641% |
Price | 14.03 | |
S1 | 13.34 | -4.92% |
S2 | 13.12 | -6.49% |
S3 | 12.81 | -8.70% |
FCF Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 23, 2024 | May 02, 2024 | May 17, 2024 | $0.130 | 0.91% |
2 | Jan 30, 2024 | Feb 08, 2024 | Feb 23, 2024 | $0.125 | 0.95% |
3 | Oct 24, 2023 | Nov 02, 2023 | Nov 17, 2023 | $0.125 | 0.94% |
4 | Jul 25, 2023 | Aug 03, 2023 | Aug 18, 2023 | $0.125 | 0.93% |
5 | Apr 25, 2023 | May 04, 2023 | May 19, 2023 | $0.125 | 0.98% |
FAQ
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