Prosperity Bancshares Inc Stock Forecast
Prosperity Bancshares Inc stock upgraded from Sell Candidate to Buy Candidate after Tuesday trading session.
(Updated on Jul 02, 2024)
The Prosperity Bancshares Inc stock price gained 1.02% on the last trading day (Tuesday, 2nd Jul 2024), rising from $60.58 to $61.20. During the last trading day the stock fluctuated 1.39% from a day low at $60.46 to a day high of $61.30. The price has risen in 6 of the last 10 days and is up by 3.83% over the past 2 weeks. Volume fell on the last day by -327 thousand shares and in total, 376 thousand shares were bought and sold for approximately $23.03 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 wide and 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 -5.16% during the next 3 months and, with a 90% probability hold a price between $53.95 and $60.19 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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PB Signals & Forecast
Mostly positive signals in the chart today. The Prosperity Bancshares Inc 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 $60.16 and $60.90. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has risen 6.43%. 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 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.
Support, Risk & Stop-loss for Prosperity Bancshares Inc stock
Prosperity Bancshares Inc finds support from accumulated volume at $59.53 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 $0.84 between high and low, or 1.39%. For the last week the stock has had daily average volatility of 2.08%.
Our recommended stop-loss: $58.81 (-3.91%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 30 days ago.)
Trading Expectations (PB) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Prosperity Bancshares Inc to open at $60.99, and during the day (based on 14 day Average True Range), to move between $60.03 and $62.37, which gives a possible trading interval of +/-$1.17 (+/-1.92%) up or down from last closing price. If Prosperity Bancshares Inc takes out the full calculated possible swing range there will be an estimated 3.84% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $62.60 (2.29%) than the support at $59.53 (2.73%), 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 Prosperity Bancshares Inc stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 3.118 Buy Candidate Upgraded
Predicted Opening Price for Prosperity Bancshares Inc of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $60.99 ( 0.349%) | $61.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PB
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 61.83 | 1.02% |
| R2 | 61.51 | 0.500% |
| R1 | 61.31 | 0.176% |
| Price | 61.20 | |
| S1 | 60.67 | -0.87% |
| S2 | 60.47 | -1.20% |
| S3 | 60.15 | -1.72% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 65.08 | 6.34% |
| R2 | 64.13 | 4.79% |
| R1 | 62.60 | 2.29% |
| Price | 61.20 | |
| S1 | 59.53 | -2.73% |
| S2 | 58.79 | -3.94% |
| S3 | 58.33 | -4.69% |
PB Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 17, 2024 | Jun 14, 2024 | Jul 01, 2024 | $0.560 | 0.92% |
| 2 | Mar 14, 2024 | Mar 14, 2024 | Apr 01, 2024 | $0.560 | 0.87% |
| 3 | Oct 18, 2023 | Dec 14, 2023 | Jan 02, 2024 | $0.560 | 0.82% |
| 4 | Jul 19, 2023 | Sep 14, 2023 | Oct 02, 2023 | $0.550 | 1.03% |
| 5 | Apr 19, 2023 | Jun 14, 2023 | Jul 03, 2023 | $0.550 | 0.95% |
FAQ
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