Fifth Third Bancorp Stock Forecast
Fifth Third Bancorp stock price up more than 5.93% on Friday
(Updated on Apr 19, 2024)
The Fifth Third Bancorp stock price gained 5.93% on the last trading day (Friday, 19th Apr 2024), rising from $34.22 to $36.25. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 5.06% from a day low at $34.97 to a day high of $36.74. The price has risen in 7 of the last 10 days and is up by 2.69% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 8 million more shares were traded than the day before. In total, 14 million shares were bought and sold for approximately $492.74 million.
The stock lies in the middle of a wide and 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 5.66% during the next 3 months and, with a 90% probability hold a price between $36.12 and $39.83 at the end of this 3-month period.
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FITB Signals & Forecast
The Fifth Third Bancorp 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 $34.67 and $35.77. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 6.34%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Fifth Third Bancorp stock
Fifth Third Bancorp finds support from accumulated volume at $35.24 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 $1.77 between high and low, or 5.06%. For the last week, the stock has had daily average volatility of 2.84%.
Our recommended stop-loss: $34.78 (-4.06%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 3 days ago.)
Trading Expectations (FITB) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Fifth Third Bancorp to open at $35.99, and during the day (based on 14 day Average True Range), to move between $35.27 and $37.23, which gives a possible trading interval of +/-$0.98 (+/-2.71%) up or down from last closing price. If Fifth Third Bancorp takes out the full calculated possible swing range there will be an estimated 5.43% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $36.37 (0.33%) than the support at $35.24 (2.79%), 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 Fifth Third Bancorp stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Fifth Third Bancorp stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.952 Buy Candidate Upgraded
Predicted Opening Price for Fifth Third Bancorp of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $35.99 ( 0.726%) | $36.25 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FITB
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 37.76 | 4.16 % | |
| R2 | 37.08 | 2.29 % | ||
| R1 | 36.66 | 1.14 % | ||
| Current price: | 36.25 | |||
| Support | S1 | 35.31 | -2.59 % | |
| S2 | 34.89 | -3.74 % | ||
| S3 | 34.22 | -5.61 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 37.01 | 2.10 % | |
| R2 | 36.69 | 1.21 % | ||
| R1 | 36.37 | 0.331 % | ||
| Current price | 36.25 | |||
| Support | S1 | 35.24 | -2.79% | |
| S2 | 34.86 | -3.83% | ||
| S3 | 34.10 | -5.93% |
FITB Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 18, 2024 | Mar 27, 2024 | Apr 15, 2024 | $0.350 | 1.01% |
| 2 | Dec 12, 2023 | Dec 28, 2023 | Jan 16, 2024 | $0.350 | 1.04% |
| 3 | Sep 11, 2023 | Sep 28, 2023 | Oct 16, 2023 | $0.350 | 1.42% |
| 4 | Jun 13, 2023 | Jun 30, 2023 | Jul 17, 2023 | $0.330 | 1.21% |
| 5 | Jun 13, 2023 | Jun 29, 2023 | Jul 17, 2023 | $0.330 | 1.21% |
FAQ
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