First Northern Community Bancorp Stock Forecast
First Northern Community Bancorp stock price ended at $8.99 on Monday, after gaining 1.35%.
(Updated on Jun 24, 2024)
The First Northern Community Bancorp stock price gained 1.35% on the last trading day (Monday, 24th Jun 2024), rising from $8.87 to $8.99. During the last trading day the stock fluctuated 2.16% from a day low at $8.80 to a day high of $8.99. The price has been going up and down for this period, and there has been a 2.74% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 12 thousand more shares were traded than the day before. In total, 12 thousand shares were bought and sold for approximately $106.08 thousand.
The stock has broken the narrow and horizontal trend up. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately. $8.98 is considered to be a "second chance" to hit a potential runner. It is, however, important that volume does follow the price as false breaks may appear and it may move back into the horizontal trend. Based on the rectangle-formation theory the stock is predicted to reach $9.27 sometime during the next 3 months.
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FNRN Signals & Forecast
The First Northern Community 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 $8.91 and $8.91. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). First Northern Community Bancorp has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. 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 Thursday, June 13, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for First Northern Community Bancorp stock
First Northern Community Bancorp finds support from accumulated volume at $8.95 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 with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.190 between high and low, or 2.16%. For the last week the stock has had daily average volatility of 0.680%.
Our recommended stop-loss: $8.63 (-4.00%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 25 days ago.)
Trading Expectations (FNRN) For The Upcoming Trading Day Of Tuesday 25th
For the upcoming trading day on Tuesday, 25th we expect First Northern Community Bancorp to open at $8.93, and during the day (based on 14 day Average True Range), to move between $8.87 and $9.11, which gives a possible trading interval of +/-$0.121 (+/-1.35%) up or down from last closing price. If First Northern Community Bancorp takes out the full calculated possible swing range there will be an estimated 2.69% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $9.01 (0.22%) than the support at $8.95 (0.44%), 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 Northern Community Bancorp stock A Buy?
First Northern Community Bancorp 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.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for First Northern Community Bancorp of Tuesday, June 25, 2024
Fair opening price June 25, 2024 | Current price |
---|---|
$8.93 ( 0.704%) | $8.99 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FNRN
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 9.12 | 1.41% |
R2 | 9.04 | 0.602% |
R1 | 9.00 | 0.103% |
Price | 8.99 | |
S1 | 8.85 | -1.51% |
S2 | 8.81 | -2.01% |
S3 | 8.74 | -2.82% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 9.03 | 0.445% |
R2 | 9.02 | 0.334% |
R1 | 9.01 | 0.222% |
Price | 8.99 | |
S1 | 8.95 | -0.445% |
S2 | 8.94 | -0.556% |
S3 | 8.90 | -1.00% |
FAQ
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