First Horizon Corporation Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
First Horizon Corporation stock upgraded to Hold/Accumulate.
(Updated on Jun 28, 2024)
The First Horizon Corporation stock price gained 0.656% on the last trading day (Friday, 28th Jun 2024), rising from $24.39 to $24.55. During the last trading day the stock fluctuated 1.11% from a day low at $24.28 to a day high of $24.55. The price has fallen in 6 of the last 10 days and is down by -1.54% for this period. Volume fell on the last day by -16 thousand shares and in total, 7 thousand shares were bought and sold for approximately $169.69 thousand. 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 stock lies in the middle of a narrow and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -2.29% during the next 3 months and, with a 90% probability hold a price between $23.79 and $24.22 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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FHN-PC Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, June 26, 2024, and so far it has risen 0.656%. 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 Horizon Corporation 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 $24.56 and $24.85. 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 fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for First Horizon Corporation stock
First Horizon Corporation finds support from accumulated volume at $24.39 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0.270 between high and low, or 1.11%. For the last week the stock has had daily average volatility of 1.08%
Our recommended stop-loss: $23.11 (-5.85%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 19 days ago.)
Trading Expectations (FHN-PC) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect First Horizon Corporation to open at $24.46, and during the day (based on 14 day Average True Range), to move between $24.29 and $24.81, which gives a possible trading interval of +/-$0.264 (+/-1.08%) up or down from last closing price. If First Horizon Corporation takes out the full calculated possible swing range there will be an estimated 2.15% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $24.65 (0.41%) than the support at $24.39 (0.65%), 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 Corporation stock A Buy?
First Horizon Corporation 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.232 Hold/Accumulate Upgraded
Predicted Opening Price for First Horizon Corporation of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $24.46 ( 0.367%) | $24.55 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FHN-PC
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 24.73 | 0.733% |
| R2 | 24.63 | 0.313% |
| R1 | 24.56 | 0.0535% |
| Price | 24.55 | |
| S1 | 24.36 | -0.787% |
| S2 | 24.29 | -1.05% |
| S3 | 24.19 | -1.47% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 25.13 | 2.36% |
| R2 | 24.73 | 0.733% |
| R1 | 24.65 | 0.407% |
| Price | 24.55 | |
| S1 | 24.39 | -0.652% |
| S2 | 0 | - |
| S3 | 0 | - |
FHN-PC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 17, 2024 | Jul 17, 2024 | Aug 01, 2024 | $0 | 0% |
| 2 | Apr 15, 2024 | Apr 15, 2024 | May 01, 2024 | $0.413 | 0% |
| 3 | Jan 16, 2024 | Jan 16, 2024 | Jan 16, 2024 | $0.413 | 0% |
| 4 | Oct 16, 2023 | Oct 16, 2023 | Nov 01, 2023 | $0.413 | 0% |
| 5 | Jul 14, 2023 | Jul 14, 2023 | Aug 01, 2023 | $0.413 | 0% |
FAQ
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