New York Community Bancorp Inc Stock Forecast

New York Community Bancorp Inc stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on May 24, 2024)

NYCB Signals & Forecast

The New York Community Bancorp Inc stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $3.46. On a fall, the stock will find some support from the long-term average at approximately $3.27. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. 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 Tuesday, May 14, 2024, and so far it has fallen -14.40%. 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).

Sell

Special Signal Notification

Double Top Formation

A sell signal from a double top formation was found on Tuesday, May 14, 2024 and based on theory for this formation the price should fall by -19.21% to $2.69 within 41 trading days since signal was issued (Tuesday, May 28, 2024).

Support, Risk & Stop-loss for New York Community Bancorp Inc stock

New York Community Bancorp Inc finds support from accumulated volume at $3.25 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.0950 between high and low, or 2.93%. For the last week, the stock has had daily average volatility of 4.94%.

Our recommended stop-loss: $3.19 (-4.30%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 18 days ago.)

Trading Expectations (NYCB) For The Upcoming Trading Day Of Tuesday 28th

For the upcoming trading day on Tuesday, 28th we expect New York Community Bancorp Inc to open at $3.31, and during the day (based on 14 day Average True Range), to move between $3.12 and $3.54, which gives a possible trading interval of +/-$0.214 (+/-6.42%) up or down from last closing price. If New York Community Bancorp Inc takes out the full calculated possible swing range there will be an estimated 12.84% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $3.25 (2.40%) than the resistance at $3.46 (3.90%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is New York Community Bancorp Inc stock A Buy?

New York Community Bancorp Inc holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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: -0.608 Hold/Accumulate Upgraded

Predicted Opening Price for New York Community Bancorp Inc of Tuesday, May 28, 2024

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