First Bank 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
Red day on Wednesday for First Bank
(Updated on Apr 24, 2024)
The First Bank stock price fell by -2.84% on the last day (Wednesday, 24th Apr 2024) from $12.32 to $11.97. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 3.85% from a day low at $11.70 to a day high of $12.15. The price has fallen in 7 of the last 10 days and is down by -3.93% for this period. Volume has increased on the last day by 21 thousand 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, 60 thousand shares were bought and sold for approximately $722.35 thousand.
The stock lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $11.75 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -11.03% during the next 3 months and, with a 90% probability hold a price between $10.46 and $11.80 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.
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FRBA Signals & Forecast
There are few to no technical positive signals at the moment. The First Bank 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 $12.26 and $12.85. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 28, 2024, and so far it has fallen -12.88%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). First Bank gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The stock had a Golden Star Signal on Monday, July 10, 2023 in the long-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 12 Months
The stock had a Golden Star Signal on Monday, July 10, 2023 in the long-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 Bank stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $0.450 between high and low, or 3.85%. For the last week, the stock has had daily average volatility of 4.22%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (FRBA) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect First Bank to open at $11.94, and during the day (based on 14 day Average True Range), to move between $11.55 and $12.39, which gives a possible trading interval of +/-$0.418 (+/-3.50%) up or down from last closing price. If First Bank takes out the full calculated possible swing range there will be an estimated 6.99% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $13.08, some $1.11 (9.27%) from the current price of $11.97, our system finds the risk reward not very attractive.
Is First Bank stock A Buy?
First Bank holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -3.692 Sell Candidate Unchanged
Predicted Opening Price for First Bank of Thursday, April 25, 2024
Fair opening price April 25, 2024 | Current price |
---|---|
$11.94 ( 0.251%) | $11.97 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FRBA
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 12.39 | 3.51 % | |
R2 | 12.22 | 2.07 % | ||
R1 | 12.11 | 1.19 % | ||
Current price: | 11.97 | |||
Support | S1 | 11.77 | -1.69 % | |
S2 | 11.66 | -2.57 % | ||
S3 | 11.49 | -4.01 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 14.55 | 21.55 % | |
R2 | 13.42 | 12.11 % | ||
R1 | 13.08 | 9.27 % | ||
Current price | 11.97 | |||
Support | S1 | 0 | . | |
S2 | 0 | . | ||
S3 | 0 | . |
FRBA Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | May 09, 2024 | May 09, 2024 | May 09, 2024 | $0 | 0% |
2 | Jan 24, 2024 | Feb 08, 2024 | Feb 23, 2024 | $0.0600 | 0.449% |
3 | Oct 17, 2023 | Nov 09, 2023 | Nov 24, 2023 | $0.0600 | 0.483% |
4 | Aug 05, 2023 | Aug 10, 2023 | Aug 25, 2023 | $0.0600 | 0.520% |
5 | Aug 05, 2023 | May 11, 2023 | May 26, 2023 | $0.0600 | 0.569% |
FAQ
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