First Horizon National Corporation Stock Forecast

Green day on Friday for First Horizon National Corporation
(Updated on Apr 19, 2024)

FHN Signals & Forecast

There are mixed signals in the stock today. The First Horizon National Corporation stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $14.75. On a fall, the stock will find some support from the short-term average at $14.24. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 5.18%. Further rise is indicated until a new top pivot has been found. 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 Horizon National Corporation stock

First Horizon National Corporation finds support from accumulated volume at $14.24 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 $0.430 between high and low, or 3.03%. For the last week, the stock has had daily average volatility of 3.27%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (FHN) For The Upcoming Trading Day Of Monday 22nd

For the upcoming trading day on Monday, 22nd we expect First Horizon National Corporation to open at $14.49, and during the day (based on 14 day Average True Range), to move between $14.23 and $15.03, which gives a possible trading interval of +/-$0.403 (+/-2.75%) up or down from last closing price. If First Horizon National Corporation takes out the full calculated possible swing range there will be an estimated 5.51% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $14.75 (0.82%) than the support at $14.24 (2.67%), 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 Horizon National Corporation stock A Buy?

First Horizon National Corporation holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.

Current score: -1.432 Sell Candidate Unchanged

Predicted Opening Price for First Horizon National Corporation of Monday, April 22, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.