Fifth Third Bancorp 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
Weaker technical forecast for Fifth Third Bancorp as stock downgraded to Buy Candidate.
(Updated on May 02, 2024)
The Fifth Third Bancorp stock price fell by -0.566% on the last day (Thursday, 2nd May 2024) from $37.10 to $36.89. During the last trading day the stock fluctuated 2.17% from a day low at $36.71 to a day high of $37.50. The price has risen in 7 of the last 10 days and is up by 7.8% over the past 2 weeks. 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, 5 million shares were bought and sold for approximately $191.01 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 8.78% during the next 3 months and, with a 90% probability hold a price between $37.75 and $41.80 at the end of this 3-month period.
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FITB Signals & Forecast
The Fifth Third Bancorp stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $36.91. On a fall, the stock will find some support from the long-term average at approximately $35.98. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, April 24, 2024, and so far it has fallen -0.91%. Further fall is indicated until a new bottom pivot has been found. 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 Fifth Third Bancorp stock
Fifth Third Bancorp finds support from accumulated volume at $36.37 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 $0.795 between high and low, or 2.17%. For the last week, the stock has had daily average volatility of 1.72%.
Our recommended stop-loss: $35.84 (-2.84%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 6 days ago.)
Trading Expectations (FITB) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Fifth Third Bancorp to open at $37.03, and during the day (based on 14 day Average True Range), to move between $36.03 and $37.75, which gives a possible trading interval of +/-$0.86 (+/-2.33%) up or down from last closing price. If Fifth Third Bancorp takes out the full calculated possible swing range there will be an estimated 4.65% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $37.01 (0.33%) than the support at $36.37 (1.41%), 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 1.419 Buy Candidate Downgraded
Predicted Opening Price for Fifth Third Bancorp of Friday, May 3, 2024
Fair opening price May 3, 2024 | Current price |
---|---|
$37.03 ( 0.384%) | $36.89 |
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 | 37.83 | 2.54 % | |
R2 | 37.52 | 1.72 % | ||
R1 | 37.34 | 1.21 % | ||
Current price: | 36.89 | |||
Support | S1 | 36.73 | -0.439 % | |
S2 | 36.54 | -0.95 % | ||
S3 | 36.24 | -1.77 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 37.21 | 0.87 % | |
R2 | 37.06 | 0.461 % | ||
R1 | 37.01 | 0.325 % | ||
Current price | 36.89 | |||
Support | S1 | 36.37 | -1.41% | |
S2 | 36.25 | -1.73% | ||
S3 | 35.24 | -4.47% |
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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