First Financial Bankshares Stock Forecast
First Financial Bankshares stock downgraded from Hold/Accumulate to Sell Candidate after Friday trading session.
(Updated on Jun 21, 2024)
The First Financial Bankshares stock price fell by -0.744% on the last day (Friday, 21st Jun 2024) from $28.21 to $28.00. During the last trading day the stock fluctuated 1.22% from a day low at $27.98 to a day high of $28.32. The price has fallen in 7 of the last 10 days and is down by -3.18% for this period. Volume has increased on the last day by 1 million 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, 2 million shares were bought and sold for approximately $49.13 million.
The stock lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $27.64 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -8.32% during the next 3 months and, with a 90% probability hold a price between $25.34 and $28.19 at the end of this 3-month period.
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FFIN Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has risen 0.647%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The First Financial Bankshares 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 $28.21 and $29.83. A break-up above any of these levels will issue buy signals. 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 Financial Bankshares stock
First Financial Bankshares finds support from accumulated volume at $27.82 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.340 between high and low, or 1.22%. For the last week, the stock has had daily average volatility of 1.47%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (FFIN) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect First Financial Bankshares to open at $28.10, and during the day (based on 14 day Average True Range), to move between $27.37 and $28.63, which gives a possible trading interval of +/-$0.626 (+/-2.24%) up or down from last closing price. If First Financial Bankshares takes out the full calculated possible swing range there will be an estimated 4.47% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $27.82 (0.64%) than the resistance at $29.98 (7.07%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is First Financial Bankshares stock A Buy?
First Financial Bankshares holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore 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 Hold/Accumulate to a Sell candidate.
Current score: -2.450 Sell Candidate Downgraded
Predicted Opening Price for First Financial Bankshares of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| $28.10 ( 0.357%) | $28.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FFIN
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 28.44 | 1.57% |
| R2 | 28.31 | 1.11% |
| R1 | 28.23 | 0.82% |
| Price | 28.00 | |
| S1 | 27.97 | -0.107% |
| S2 | 27.89 | -0.393% |
| S3 | 27.76 | -0.86% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 31.08 | 11.00% |
| R2 | 30.01 | 7.18% |
| R1 | 29.98 | 7.07% |
| Price | 28.00 | |
| S1 | 27.82 | -0.643% |
| S2 | 0 | - |
| S3 | 0 | - |
FFIN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 23, 2024 | Jun 14, 2024 | Jul 01, 2024 | $0.180 | 0.643% |
| 2 | Jan 23, 2024 | Mar 14, 2024 | Apr 01, 2024 | $0.180 | 0.558% |
| 3 | Oct 24, 2023 | Dec 14, 2023 | Jan 02, 2024 | $0.180 | 0.599% |
| 4 | Jul 25, 2023 | Sep 13, 2023 | Oct 02, 2023 | $0.180 | 0.735% |
| 5 | Apr 25, 2023 | Jun 14, 2023 | Jul 03, 2023 | $0.180 | 0.615% |
FAQ
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