Provident Financial Services Inc Stock Forecast
Provident Financial Services Inc stock downgraded from Hold/Accumulate to Sell Candidate after Tuesday trading session.
(Updated on May 07, 2024)
The Provident Financial Services Inc stock price fell by -0.90% on the last day (Tuesday, 7th May 2024) from $15.54 to $15.40. During the last trading day the stock fluctuated 2.47% from a day low at $15.36 to a day high of $15.74. The price has fallen in 6 of the last 10 days and is down by -0.77% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -268 thousand shares and in total, 573 thousand shares were bought and sold for approximately $8.83 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 $15.55 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 -4.09% during the next 3 months and, with a 90% probability hold a price between $12.74 and $14.91 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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PFS Signals & Forecast
The Provident 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 $15.19 and $14.64. 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). 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, May 03, 2024, and so far it has fallen -1.09%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Provident Financial Services Inc stock
Provident Financial Services Inc finds support from accumulated volume at $15.20 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 $0.380 between high and low, or 2.47%. For the last week, the stock has had daily average volatility of 2.30%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PFS) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Provident Financial Services Inc to open at $15.50, and during the day (based on 14 day Average True Range), to move between $14.93 and $15.87, which gives a possible trading interval of +/-$0.473 (+/-3.07%) up or down from last closing price. If Provident Financial Services Inc takes out the full calculated possible swing range there will be an estimated 6.14% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $15.52 (0.78%) than the support at $15.20 (1.30%), 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 Provident Financial Services Inc stock A Buy?
Provident Financial Services Inc holds several negative signals and we believe that 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: -1.162 Sell Candidate Downgraded
Predicted Opening Price for Provident Financial Services Inc of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| $15.50 ( 0.649%) | $15.40 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PFS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 15.88 | 3.12 % | |
| R2 | 15.73 | 2.17 % | ||
| R1 | 15.65 | 1.59 % | ||
| Current price: | 15.40 | |||
| Support | S1 | 15.35 | -0.293 % | |
| S2 | 15.27 | -0.88 % | ||
| S3 | 15.12 | -1.82 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 15.55 | 0.97 % | |
| R2 | 15.54 | 0.91 % | ||
| R1 | 15.52 | 0.779 % | ||
| Current price | 15.40 | |||
| Support | S1 | 15.20 | -1.30% | |
| S2 | 14.56 | -5.45% | ||
| S3 | 14.38 | -6.62% |
PFS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 18, 2024 | Apr 26, 2024 | May 31, 2024 | $0.240 | 1.56% |
| 2 | Jan 25, 2024 | Feb 08, 2024 | Feb 23, 2024 | $0.240 | 1.58% |
| 3 | Oct 26, 2023 | Nov 09, 2023 | Nov 24, 2023 | $0.240 | 1.58% |
| 4 | Jul 27, 2023 | Aug 10, 2023 | Aug 25, 2023 | $0.240 | 1.47% |
| 5 | Apr 27, 2023 | May 11, 2023 | May 26, 2023 | $0.240 | 1.47% |
FAQ
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