Is First Financial Bancorp. stock still a buy after falling -5.28% on Friday ?
(Updated on Nov 26, 2021)
Sell candidate since 2021-11-26 PDF
The First Financial Bancorp. stock price fell by -5.28% on the last day (Friday, 26th Nov 2021) from $25.21 to $23.88. and has now fallen 3 days in a row. During the day the stock fluctuated 8.45% from a day low at $23.30 to a day high of $25.27. The price has fallen in 6 of the last 10 days and is down by -6.86% for this period. Volume has increased on the last day by 190 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, 316 thousand shares were bought and sold for approximately $7.55 million.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $23.70 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 11.94% during the next 3 months and, with a 90% probability hold a price between $26.53 and $29.42 at the end of this 3-month period.
Signals & Forecast
There are few to no technical positive signals at the moment. The First Financial Bancorp. stock holds sell signals from both short and long-term moving averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $24.93 and $24.54. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, November 10, 2021, and so far it has fallen -7.41%. 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 Financial Bancorp. finds support from accumulated volume at $23.39 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 $1.97 (8.45%) between high and low. For the last week, the stock has had a daily average volatility of 3.32%.
Our recommended stop-loss: We hold an negative evaluation for this stock. No stop-loss is set.
Is First Financial Bancorp. stock A Buy?
The First Financial Bancorp. stock holds several negative signals and despite the positive trend, we believe First Financial Bancorp. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. 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 Sell candidate.
Current score: -4.597
Predicted Opening Price for First Financial 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 25, 2021 "Royal Bank of Canada" gave "$25.00 - $26.00" rating for FFBC. The price target was set to $24.94+1.3%.
FFBC Insider Trading
|Sep 30, 2021||Buy||400||Booth Cynthia O||Common Stock|
|Sep 30, 2021||Buy||533||Rahe Maribeth S||Common Stock|
|Jun 30, 2021||Buy||528||Rahe Maribeth S||Common Stock|
|Jun 30, 2021||Buy||396||Booth Cynthia O||Common Stock|
|Jun 01, 2021||Sell||33 067||Davis Claude E||Common Stock|
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