Orrstown Financial Services Inc Stock Forecast
Weaker technical forecast for Orrstown Financial Services Inc as stock downgraded to Hold/Accumulate.
(Updated on May 02, 2024)
The Orrstown Financial Services Inc stock price gained 0.0760% on the last trading day (Thursday, 2nd May 2024), rising from $26.32 to $26.34. During the last trading day the stock fluctuated 0.84% from a day low at $26.30 to a day high of $26.52. The price has risen in 7 of the last 10 days and is up by 5.23% over the past 2 weeks. Volume fell on the last day by -120 thousand shares and in total, 61 thousand shares were bought and sold for approximately $1.62 million. 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 lies in the middle of a falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -3.66% during the next 3 months and, with a 90% probability hold a price between $23.88 and $25.79 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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ORRF Signals & Forecast
The Orrstown Financial Services Inc 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 $26.33 and $25.85. 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 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 Friday, April 26, 2024, and so far it has fallen -0.529%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Orrstown Financial Services Inc stock
Orrstown Financial Services Inc finds support from accumulated volume at $26.32 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.220 (0.84%) between high and low. For the last week, the stock has had daily average volatility of 1.58%.
Our recommended stop-loss: $25.53 (-3.09%) (This stock has low daily movements and this gives low risk. The RSI14 is 79 and this increases the risk substantially. There is a sell signal from a pivot top found 4 days ago.)
Trading Expectations (ORRF) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Orrstown Financial Services Inc to open at $26.39, and during the day (based on 14 day Average True Range), to move between $25.81 and $26.87, which gives a possible trading interval of +/-$0.533 (+/-2.02%) up or down from last closing price. If Orrstown Financial Services Inc takes out the full calculated possible swing range there will be an estimated 4.05% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $26.32 (0.08%) than the resistance at $26.43 (0.34%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Orrstown Financial Services Inc stock A Buy?
Orrstown Financial Services Inc 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: -0.950 Hold/Accumulate Downgraded
Predicted Opening Price for Orrstown Financial Services Inc of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $26.39 ( 0.177%) | $26.34 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ORRF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 26.61 | 1.01 % | |
| R2 | 26.52 | 0.693 % | ||
| R1 | 26.47 | 0.496 % | ||
| Current price: | 26.34 | |||
| Support | S1 | 26.30 | -0.142 % | |
| S2 | 26.25 | -0.339 % | ||
| S3 | 26.17 | -0.658 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 26.62 | 1.06 % | |
| R2 | 26.48 | 0.532 % | ||
| R1 | 26.43 | 0.342 % | ||
| Current price | 26.34 | |||
| Support | S1 | 26.32 | -0.0759% | |
| S2 | 25.75 | -2.24% | ||
| S3 | 25.59 | -2.85% |
ORRF Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 23, 2024 | May 06, 2024 | May 14, 2024 | $0.200 | 0.759% |
| 2 | Jan 23, 2024 | Feb 05, 2024 | Feb 13, 2024 | $0.200 | 0.770% |
| 3 | Oct 24, 2023 | Nov 06, 2023 | Nov 14, 2023 | $0.200 | 0.83% |
| 4 | Jul 24, 2023 | Aug 07, 2023 | Aug 15, 2023 | $0.200 | 0.89% |
| 5 | Apr 24, 2023 | May 08, 2023 | May 16, 2023 | $0.200 | 1.19% |
FAQ
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