First Citizens BancShares Stock Forecast
First Citizens BancShares stock downgraded to Hold/Accumulate
(Updated on Apr 23, 2024)
The First Citizens BancShares stock price fell by -0.0018% on the last day (Tuesday, 23rd Apr 2024) from $1,622.75 to $1,622.72. During the last trading day the stock fluctuated 2.06% from a day low at $1,618.77 to a day high of $1,652.04. The price has been going up and down for this period, and there has been a 1.06% gain for the last 2 weeks. Volume has increased on the last day by 14 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, 75 thousand shares were bought and sold for approximately $122.10 million.
The stock lies in the middle of a 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 8.30% during the next 3 months and, with a 90% probability hold a price between $1,666.16 and $1,808.81 at the end of this 3-month period.
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FCNCA Signals & Forecast
The First Citizens BancShares 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 $1,569.26 and $1,579.49. A breakdown below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, March 28, 2024, and so far it has fallen -0.751%. 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 for First Citizens BancShares stock
First Citizens BancShares finds support from accumulated volume at $1,548.00 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 $33.27 between high and low, or 2.06%. For the last week the stock has had daily average volatility of 2.32%.
Our recommended stop-loss: $1,575.90 (-2.89%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 17 days ago.)
Trading Expectations (FCNCA) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect First Citizens BancShares to open at $1,631.18, and during the day (based on 14 day Average True Range), to move between $1,583.68 and $1,661.76, which gives a possible trading interval of +/-$39.04 (+/-2.41%) up or down from last closing price. If First Citizens BancShares takes out the full calculated possible swing range there will be an estimated 4.81% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1,622.75 (0.00%) than the support at $1,548.00 (4.60%), 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
First Citizens BancShares will release earnings BMO on Thursday, April 25, 2024.The consensus among the analysts for the expected earnings (EPS) is $43.44. We will update the financials statements for First Citizens BancShares, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.79% in the first trading day after earnings release.
Is First Citizens BancShares stock A Buy?
First Citizens BancShares 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. 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: -0.802 Hold/Accumulate Downgraded
Predicted Opening Price for First Citizens BancShares of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $1,631.18 ( 0.521%) | $1,622.72 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FCNCA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,664.45 | 2.57 % | |
| R2 | 1,651.74 | 1.79 % | ||
| R1 | 1,643.89 | 1.30 % | ||
| Current price: | 1,622.72 | |||
| Support | S1 | 1,618.47 | -0.262 % | |
| S2 | 1,610.62 | -0.746 % | ||
| S3 | 1,597.91 | -1.53 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,635.00 | 0.757 % | |
| R2 | 1,632.25 | 0.587 % | ||
| R1 | 1,622.75 | 0.0018 % | ||
| Current price | 1,622.72 | |||
| Support | S1 | 1,548.00 | -4.60% | |
| S2 | 1,510.00 | -6.95% | ||
| S3 | 1,485.77 | -8.44% |
FCNCA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 24, 2024 | Feb 28, 2024 | Mar 15, 2024 | $1.64 | 0.106% |
| 2 | Oct 24, 2023 | Nov 29, 2023 | Dec 15, 2023 | $1.64 | 0.115% |
| 3 | Jul 25, 2023 | Aug 30, 2023 | Sep 15, 2023 | $0.750 | 0.0569% |
| 4 | Apr 25, 2023 | May 30, 2023 | Jun 15, 2023 | $0.750 | 0.0578% |
| 5 | Jan 24, 2023 | Feb 27, 2023 | Mar 15, 2023 | $0.750 | 0.139% |
FAQ
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