Fulton Financial Corporation Stock Forecast
Fulton Financial Corporation stock downgraded to Sell Candidate
(Updated on Jun 20, 2024)
The Fulton Financial Corporation stock price gained 0.475% on the last trading day (Thursday, 20th Jun 2024), rising from $17.91 to $18.00. During the last trading day the stock fluctuated 1.01% from a day low at $17.89 to a day high of $18.07. The price has fallen in 8 of the last 10 days and is down by -6.98% for this period. Volume fell on the last day by -3 thousand shares and in total, 5 thousand shares were bought and sold for approximately $87.08 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Fulton Financial Corporation stock with a 90% probability to be traded between $17.33 and $19.53 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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FULTP Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, June 17, 2024, and so far it has risen 1.10%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Fulton Financial Corporation 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 $18.03 and $18.68. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Fulton Financial Corporation stock
Fulton Financial Corporation finds support from accumulated volume at $17.84 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.180 between high and low, or 1.01%. For the last week the stock has had daily average volatility of 2.83%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (FULTP) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect Fulton Financial Corporation to open at $17.99, and during the day (based on 14 day Average True Range), to move between $17.53 and $18.46, which gives a possible trading interval of +/-$0.469 (+/-2.61%) up or down from last closing price. If Fulton Financial Corporation takes out the full calculated possible swing range there will be an estimated 5.21% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $18.00 (0.03%) than the support at $17.84 (0.86%), 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 Fulton Financial Corporation stock A Buy?
Fulton Financial Corporation 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.215 Sell Candidate Downgraded
Predicted Opening Price for Fulton Financial Corporation of Friday, June 21, 2024
| Fair opening price June 21, 2024 | Current price |
|---|---|
| $17.99 ( 0.0556%) | $18.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FULTP
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 18.17 | 0.94% |
| R2 | 18.10 | 0.563% |
| R1 | 18.05 | 0.327% |
| Price | 18.00 | |
| S1 | 17.92 | -0.438% |
| S2 | 17.87 | -0.674% |
| S3 | 17.81 | -1.06% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 18.76 | 4.25% |
| R2 | 18.30 | 1.69% |
| R1 | 18.00 | 0.0278% |
| Price | 18.00 | |
| S1 | 17.84 | -0.86% |
| S2 | 17.80 | -1.08% |
| S3 | 17.17 | -4.58% |
FULTP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 19, 2024 | Mar 27, 2024 | Apr 15, 2024 | $0.320 | 1.85% |
| 2 | Dec 19, 2023 | Dec 28, 2023 | Jan 16, 2024 | $0.320 | 1.88% |
| 3 | Sep 19, 2023 | Sep 28, 2023 | Oct 16, 2023 | $0.320 | 2.07% |
| 4 | Jun 20, 2023 | Jun 29, 2023 | Jul 17, 2023 | $0.320 | 1.96% |
| 5 | Mar 21, 2023 | Mar 30, 2023 | Apr 17, 2023 | $0.320 | 1.98% |
FAQ
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