Parke Bancorp Stock Forecast
Parke Bancorp stock downgraded from Hold/Accumulate to Sell Candidate after Tuesday trading session.
(Updated on May 07, 2024)
The Parke Bancorp stock price fell by -0.601% on the last day (Tuesday, 7th May 2024) from $16.65 to $16.55. During the last trading day the stock fluctuated 3.32% from a day low at $16.55 to a day high of $17.10. The price has been going up and down for this period, and there has been a 0.3% gain for the last 2 weeks. 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 -3 thousand shares and in total, 12 thousand shares were bought and sold for approximately $200.54 thousand.
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 -2.04% during the next 3 months and, with a 90% probability hold a price between $15.03 and $16.73 at the end of this 3-month period.
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PKBK Signals & Forecast
There are mixed signals in the stock today. The Parke Bancorp 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 $16.59 and $16.60. A break-up above any of these levels will issue buy signals. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 2.80%. 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).
A sell signal from a double top formation was found on Thursday, March 21, 2024 and based on theory for this formation the price should fall by -10.87% to $14.75 within 24 trading days since signal was issued (Wednesday, May 08, 2024).
Support, Risk & Stop-loss for Parke Bancorp stock
Parke Bancorp finds support from accumulated volume at $16.50 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0.550 between high and low, or 3.32%. For the last week the stock has had daily average volatility of 1.95%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PKBK) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Parke Bancorp to open at $16.73, and during the day (based on 14 day Average True Range), to move between $16.21 and $16.89, which gives a possible trading interval of +/-$0.337 (+/-2.04%) up or down from last closing price. If Parke Bancorp takes out the full calculated possible swing range there will be an estimated 4.07% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $16.50 (0.30%) than the resistance at $16.74 (1.15%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Parke Bancorp stock A Buy?
Parke Bancorp 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: -1.496 Sell Candidate Downgraded
Predicted Opening Price for Parke Bancorp of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| $16.73 ( 1.11%) | $16.55 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PKBK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 17.28 | 4.43 % | |
| R2 | 17.07 | 3.16 % | ||
| R1 | 16.94 | 2.38 % | ||
| Current price: | 16.55 | |||
| Support | S1 | 16.52 | -0.162 % | |
| S2 | 16.39 | -0.95 % | ||
| S3 | 16.18 | -2.22 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 17.30 | 4.53 % | |
| R2 | 17.03 | 2.90 % | ||
| R1 | 16.74 | 1.15 % | ||
| Current price | 16.55 | |||
| Support | S1 | 16.50 | -0.302% | |
| S2 | 16.17 | -2.30% | ||
| S3 | 15.68 | -5.26% |
PKBK Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 20, 2024 | Apr 04, 2024 | Apr 19, 2024 | $0.180 | 1.09% |
| 2 | Dec 19, 2023 | Jan 02, 2024 | Jan 17, 2024 | $0.180 | 1.01% |
| 3 | Sep 20, 2023 | Sep 29, 2023 | Oct 16, 2023 | $0.180 | 1.10% |
| 4 | Jun 27, 2023 | Jul 07, 2023 | Jul 24, 2023 | $0.180 | 0.96% |
| 5 | Mar 28, 2023 | Apr 06, 2023 | Jul 24, 2023 | $0.180 | 0.96% |
FAQ
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