Primis Financial Corp. Stock Forecast
A very strong day for Primis Financial Corp. stock price on Friday
(Updated on Jun 28, 2024)
The Primis Financial Corp. stock price gained 5.86% on the last trading day (Friday, 28th Jun 2024), rising from $9.90 to $10.48. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 8.50% from a day low at $10.00 to a day high of $10.85. The price has been going up and down for this period, and there has been a 6.07% 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, 335 thousand more shares were traded than the day before. In total, 376 thousand shares were bought and sold for approximately $3.94 million.
The stock lies the upper part of a wide and 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 $10.56 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 -11.00% during the next 3 months and, with a 90% probability hold a price between $8.41 and $9.39 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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FRST Signals & Forecast
The Primis Financial Corp. 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 $9.81 and $10.25. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, June 21, 2024, and so far it has risen 9.74%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Primis Financial Corp. stock
Primis Financial Corp. finds support from accumulated volume at $10.33 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.85 between high and low, or 8.50%. For the last week, the stock has had daily average volatility of 3.13%.
Our recommended stop-loss: $10.08 (-3.82%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 35 days ago.)
Trading Expectations (FRST) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Primis Financial Corp. to open at $10.44, and during the day (based on 14 day Average True Range), to move between $10.22 and $10.74, which gives a possible trading interval of +/-$0.261 (+/-2.49%) up or down from last closing price. If Primis Financial Corp. takes out the full calculated possible swing range there will be an estimated 4.98% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $10.56 (0.76%) than the support at $10.33 (1.43%), 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 Primis Financial Corp. stock A Buy?
Primis Financial Corp. 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Upgraded
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 Primis Financial Corp. of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $10.44 ( 0.350%) | $10.48 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FRST
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 11.29 | 7.76% |
| R2 | 10.97 | 4.66% |
| R1 | 10.77 | 2.75% |
| Price | 10.48 | |
| S1 | 10.12 | -3.45% |
| S2 | 9.92 | -5.36% |
| S3 | 9.59 | -8.46% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 10.60 | 1.15% |
| R2 | 10.58 | 0.95% |
| R1 | 10.56 | 0.763% |
| Price | 10.48 | |
| S1 | 10.33 | -1.43% |
| S2 | 9.98 | -4.77% |
| S3 | 9.69 | -7.54% |
FRST Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 25, 2024 | May 09, 2024 | May 24, 2024 | $0.100 | 0.93% |
| 2 | Jan 25, 2024 | Feb 08, 2024 | Feb 23, 2024 | $0.100 | 0.81% |
| 3 | Oct 26, 2023 | Nov 09, 2023 | Nov 24, 2023 | $0.100 | 1.00% |
| 4 | Jul 27, 2023 | Aug 10, 2023 | Aug 25, 2023 | $0.100 | 1.12% |
| 5 | Apr 27, 2023 | May 11, 2023 | May 26, 2023 | $0.100 | 1.34% |
FAQ
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