Patriot National Bancorp Stock Forecast
Patriot National Bancorp stock downgraded from Sell Candidate to Strong Sell Candidate after Tuesday trading session.
(Updated on Jul 02, 2024)
No changes to the price of Patriot National Bancorp stock on the last trading day (Tuesday, 2nd Jul 2024). During the last trading day the stock fluctuated 0.541% from a day low at $1.85 to a day high of $1.86. The price has fallen in 7 of the last 10 days and is down by -27.73% for this period.
The stock lies in the middle of a very 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 -52.44% during the next 3 months and, with a 90% probability hold a price between $0.525 and $1.03 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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PNBK Signals & Forecast
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. The Patriot National 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 $1.90 and $2.31. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, June 17, 2024, and so far it has fallen -27.73%. Further fall is indicated until a new bottom pivot has been found. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Patriot National Bancorp stock
Patriot National Bancorp finds support from accumulated volume at $1.83 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 periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0100 between high and low, or 0.541%. For the last week the stock has had daily average volatility of 5.49%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PNBK) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Patriot National Bancorp to open at $1.85, and during the day (based on 14 day Average True Range), to move between $1.55 and $2.15, which gives a possible trading interval of +/-$0.303 (+/-16.39%) up or down from last closing price. If Patriot National Bancorp takes out the full calculated possible swing range there will be an estimated 32.77% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.83 (1.08%) than the resistance at $2.20 (18.92%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Patriot National Bancorp stock A Buy?
Patriot National Bancorp holds several negative signals and is within a very wide and falling trend, so we believe 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 Sell to a Strong Sell candidate.
Current score: -6.075 Strong Sell Candidate Downgraded
Predicted Opening Price for Patriot National Bancorp of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $1.85 ( 0.180%) | $1.85 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PNBK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.86 | 0.721% |
| R2 | 1.86 | 0.514% |
| R1 | 1.86 | 0.387% |
| Price | 1.85 | |
| S1 | 1.85 | -0.0263% |
| S2 | 1.85 | -0.154% |
| S3 | 1.84 | -0.360% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 2.26 | 22.16% |
| R2 | 2.25 | 21.62% |
| R1 | 2.20 | 18.92% |
| Price | 1.85 | |
| S1 | 1.83 | -1.08% |
| S2 | 1.82 | -1.62% |
| S3 | 1.80 | -2.70% |
PNBK Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Nov 29, 2019 | Dec 06, 2019 | Dec 19, 2019 | $0.0100 | 0.0801% |
| 2 | Aug 23, 2019 | Aug 30, 2019 | Sep 13, 2019 | $0.0100 | 0.0778% |
| 3 | May 24, 2019 | Jun 03, 2019 | Jun 11, 2019 | $0.0100 | 0.0649% |
| 4 | Feb 26, 2019 | Mar 08, 2019 | Mar 18, 2019 | $0.0100 | 0.0692% |
| 5 | Nov 15, 2018 | Nov 23, 2018 | Dec 04, 2018 | $0.0100 | 0.0606% |
FAQ
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