First Resource Bank Stock Forecast
First Resource Bank stock price ended at $13.75 on Monday, after losing 0%.
(Updated on May 06, 2024)
No changes to the price of First Resource Bank stock on the last trading day (Monday, 6th May 2024). During the last trading day the stock fluctuated 4.17% from a day low at $13.20 to a day high of $13.75. The price has been going up and down for this period, and there has been a 4.17% gain for the last 2 weeks.
The stock lies the upper part of a falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $13.78 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -2.69% during the next 3 months and, with a 90% probability hold a price between $12.47 and $13.40 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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FRSB Signals & Forecast
The First Resource Bank 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 $13.52 and $13.28. 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). Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". The very low volume increases the risk and reduces the other technical signals issued. 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 Friday, May 03, 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 Resource Bank stock
First Resource Bank finds support from accumulated volume at $13.41 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 $0.550 between high and low, or 4.17%. For the last week the stock has had daily average volatility of 2.37%.
Our recommended stop-loss: $13.25 (-3.66%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (FRSB) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect First Resource Bank to open at $13.57, and during the day (based on 14 day Average True Range), to move between $13.59 and $13.91, which gives a possible trading interval of +/-$0.160 (+/-1.16%) up or down from last closing price. If First Resource Bank takes out the full calculated possible swing range there will be an estimated 2.33% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $13.80 (0.36%) than the support at $13.41 (2.49%), 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 Resource Bank stock A Buy?
First Resource Bank 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: -0.133 Hold/Accumulate Unchanged
Predicted Opening Price for First Resource Bank of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| $13.57 ( 1.33%) | $13.75 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FRSB
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 14.12 | 2.67 % | |
| R2 | 13.91 | 1.14 % | ||
| R1 | 13.78 | 0.195 % | ||
| Current price: | 13.75 | |||
| Support | S1 | 13.36 | -2.86 % | |
| S2 | 13.23 | -3.80 % | ||
| S3 | 13.02 | -5.33 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 13.90 | 1.09 % | ||
| R1 | 13.80 | 0.364 % | ||
| Current price | 13.75 | |||
| Support | S1 | 13.41 | -2.49% | |
| S2 | 13.30 | -3.27% | ||
| S3 | 13.20 | -4.00% |
FRSB Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 06, 2015 | May 06, 2015 | May 22, 2015 | $0.0381 | 0.617% |
| 2 | Apr 09, 2014 | Apr 09, 2014 | Apr 09, 2014 | $0.0286 | 0.512% |
FAQ
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