The First of Long Island Corporation Stock Forecast
Weaker technical forecast for The First of Long Island Corporation as stock downgraded to Hold/Accumulate.
(Updated on Jul 02, 2024)
The The First of Long Island Corporation stock price gained 1.27% on the last trading day (Tuesday, 2nd Jul 2024), rising from $10.24 to $10.37. It has now gained 5 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 1.46% from a day low at $10.24 to a day high of $10.39. The price has risen in 8 of the last 10 days and is up by 7.35% over the past 2 weeks. Volume fell on the last day by -97 thousand shares and in total, 84 thousand shares were bought and sold for approximately $867.79 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 stockhas broken the wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $10.32, a level that may pose a second chance to hit a runner. According to fan-theory $11.73 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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FLIC Signals & Forecast
The The First of Long Island Corporation 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 $9.94 and $9.96. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has risen 9.74%. Further rise is indicated until a new top pivot has been found. 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. 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.
A buy signal from a double bottom formation was found on Friday, June 14, 2024 and based on theory for this formation the price should go up by 11.07% to $11.52 within 32 trading days (Thursday, August 01, 2024) since signal was issued.
Support, Risk & Stop-loss for The First of Long Island Corporation stock
The First of Long Island Corporation finds support from accumulated volume at $10.16 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 $0.150 between high and low, or 1.46%. For the last week the stock has had daily average volatility of 2.61%
Our recommended stop-loss: $10.05 (-3.07%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 30 days ago.)
Trading Expectations (FLIC) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect The First of Long Island Corporation to open at $10.33, and during the day (based on 14 day Average True Range), to move between $10.11 and $10.63, which gives a possible trading interval of +/-$0.264 (+/-2.55%) up or down from last closing price. If The First of Long Island Corporation takes out the full calculated possible swing range there will be an estimated 5.10% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $10.48 (1.06%) than the support at $10.16 (2.03%), 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 The First of Long Island Corporation stock A Buy?
The First of Long Island Corporation holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.252 Hold/Accumulate Downgraded
Predicted Opening Price for The First of Long Island Corporation of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $10.33 ( 0.354%) | $10.37 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FLIC
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 10.48 | 1.09% |
| R2 | 10.43 | 0.540% |
| R1 | 10.39 | 0.199% |
| Price | 10.37 | |
| S1 | 10.28 | -0.91% |
| S2 | 10.24 | -1.25% |
| S3 | 10.18 | -1.80% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 10.57 | 1.93% |
| R2 | 10.50 | 1.25% |
| R1 | 10.48 | 1.06% |
| Price | 10.37 | |
| S1 | 10.16 | -2.03% |
| S2 | 10.02 | -3.38% |
| S3 | 9.79 | -5.59% |
FLIC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 28, 2024 | Jul 10, 2024 | Jul 18, 2024 | $0.210 | 2.03% |
| 2 | Mar 07, 2024 | Mar 12, 2024 | Mar 21, 2024 | $0.210 | 1.91% |
| 3 | Dec 15, 2023 | Dec 29, 2023 | Jan 11, 2024 | $0.210 | 1.66% |
| 4 | Sep 29, 2023 | Oct 10, 2023 | Oct 19, 2023 | $0.210 | 2.00% |
| 5 | Jun 29, 2023 | Jul 11, 2023 | Jul 20, 2023 | $0.210 | 1.63% |
FAQ
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