Fifth Third Bancorp Stock Forecast
Fifth Third Bancorp stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on Jun 21, 2024)
The Fifth Third Bancorp stock price gained 0.0647% on the last trading day (Friday, 21st Jun 2024), rising from $20.09 to $20.10. During the last trading day the stock fluctuated 1.26% from a day low at $20.01 to a day high of $20.26. The price has fallen in 7 of the last 10 days and is down by -4.02% for this period. Volume fell on the last day by -10 thousand shares and in total, 18 thousand shares were bought and sold for approximately $362.25 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 lower of a falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $20.03 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -13.16% during the next 3 months and, with a 90% probability hold a price between $17.40 and $18.31 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
FITBO Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, June 20, 2024, and so far it has risen 0.0647%. 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 Fifth Third Bancorp 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 $20.19 and $21.16. 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 Fifth Third Bancorp stock
Fifth Third Bancorp finds support from accumulated volume at $20.09 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 controlled movements and therefore the general risk is considered 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 $0.251 between high and low, or 1.26%. For the last week the stock has had daily average volatility of 1.09%.
Fifth Third Bancorp is oversold on RSI14 (19). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: $18.87 (-6.11%) (This stock has low daily movements and this gives low risk. Low RSI14 is 19 which reduces the risk some. There is a buy signal from a pivot bottom found 31 days ago.)
Trading Expectations (FITBO) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Fifth Third Bancorp to open at $20.12, and during the day (based on 14 day Average True Range), to move between $19.79 and $20.41, which gives a possible trading interval of +/-$0.311 (+/-1.55%) up or down from last closing price. If Fifth Third Bancorp takes out the full calculated possible swing range there will be an estimated 3.10% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $20.11 (0.06%) than the support at $20.09 (0.06%), 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?
Fifth Third Bancorp 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: -0.713 Hold/Accumulate Upgraded
Predicted Opening Price for Fifth Third Bancorp of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| $20.12 ( 0.125%) | $20.10 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FITBO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 20.37 | 1.38% |
| R2 | 20.28 | 0.90% |
| R1 | 20.22 | 0.603% |
| Price | 20.10 | |
| S1 | 20.03 | -0.353% |
| S2 | 19.97 | -0.648% |
| S3 | 19.87 | -1.13% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 23.52 | 17.03% |
| R2 | 20.44 | 1.70% |
| R1 | 20.11 | 0.0597% |
| Price | 20.10 | |
| S1 | 20.09 | -0.0647% |
| S2 | 0 | - |
| S3 | 0 | - |
FITBO Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 13, 2024 | Jun 27, 2024 | Jul 01, 2024 | $0.309 | 1.54% |
| 2 | Mar 18, 2024 | Mar 27, 2024 | Apr 01, 2024 | $0.309 | 1.31% |
| 3 | Dec 12, 2023 | Dec 27, 2023 | Jan 02, 2024 | $0.309 | 1.38% |
| 4 | Sep 11, 2023 | Sep 27, 2023 | Oct 02, 2023 | $0.309 | 1.52% |
| 5 | Jun 13, 2023 | Jun 27, 2023 | Jun 30, 2023 | $0.309 | 1.41% |
FAQ
Click here for our free guide on how to buy Fifth Third Bancorp Stock.
