First Bank Stock Forecast

First Bank stock price ended at $11.68 on Tuesday, after losing 1.10%.
(Updated on Apr 30, 2024)

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 $12.05 and $12.70. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, April 19, 2024, and so far it has fallen -8.18%. 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.

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 $0.260 between high and low, or 2.24%. For the last week, the stock has had daily average volatility of 3.05%.

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 Wednesday 1st

For the upcoming trading day on Wednesday, 1st we expect First Bank to open at $11.73, and during the day (based on 14 day Average True Range), to move between $11.28 and $12.08, which gives a possible trading interval of +/-$0.397 (+/-3.40%) up or down from last closing price. If First Bank takes out the full calculated possible swing range there will be an estimated 6.81% move between the lowest and the highest trading price during the day.

With no support below and resistance from accumulated volume @ $13.08, some $1.40 (11.99%) from the current price of $11.68, 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: -2.858 Sell Candidate Unchanged

Predicted Opening Price for First Bank of Wednesday, May 1, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.