First Northern Community 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
First Northern Community Bancorp stock price ended at $9.05 on Friday, after gaining 0.667%.
(Updated on Jun 28, 2024)
The First Northern Community Bancorp stock price gained 0.667% on the last trading day (Friday, 28th Jun 2024), rising from $8.99 to $9.05. During the last trading day the stock fluctuated 0.667% from a day low at $8.99 to a day high of $9.05. The price has been going up and down for this period, and there has been a 0.67% 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 $107.13 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. $9.02 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 $9.31 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. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $8.96 and $8.92. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, June 05, 2024, and so far it has risen 3.43%. 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). 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. The stock had a Golden Star Signal on Friday, June 21, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star
The stock had a Golden Star Signal on Friday, June 21, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for First Northern Community Bancorp stock
First Northern Community Bancorp finds support from accumulated volume at $8.99 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 $0.0600 between high and low, or 0.667%. For the last week the stock has had daily average volatility of 1.14%.
Our recommended stop-loss: $8.61 (-4.82%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 29 days ago.)
Trading Expectations (FNRN) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect First Northern Community Bancorp to open at $9.03, and during the day (based on 14 day Average True Range), to move between $8.95 and $9.15, which gives a possible trading interval of +/-$0.104 (+/-1.15%) 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 2.30% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $9.06 (0.11%) than the support at $8.99 (0.66%), 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 Monday, July 1, 2024
Fair opening price July 1, 2024 | Current price |
---|---|
$9.03 ( 0.221%) | $9.05 |
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 | 9.09 | 0.442% |
R2 | 9.07 | 0.189% |
R1 | 9.05 | 0.0323% |
Price | 9.05 | |
S1 | 9.01 | -0.474% |
S2 | 8.99 | -0.631% |
S3 | 8.97 | -0.88% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0 | - |
R2 | 0 | - |
R1 | 9.06 | 0.110% |
Price | 9.05 | |
S1 | 8.99 | -0.663% |
S2 | 8.95 | -1.10% |
S3 | 8.90 | -1.66% |
FAQ
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