Patriot National Bancorp Stock Forecast
Patriot National Bancorp stock price fell more than -7.71% Thursday closing at $3.35
(Updated on May 02, 2024)
The Patriot National Bancorp stock price fell by -7.71% on the last day (Thursday, 2nd May 2024) from $3.63 to $3.35. During the last trading day the stock fluctuated 9.57% from a day low at $3.20 to a day high of $3.51. The price has been going up and down for this period, and there has been a -6.94% loss for the last 2 weeks. Volume has increased on the last day by 3 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 3 thousand shares were bought and sold for approximately $8.67 thousand.
The stock lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $3.31 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -9.70% during the next 3 months and, with a 90% probability hold a price between $2.99 and $3.44 at the end of this 3-month period.
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PNBK Signals & Forecast
There are few to no technical positive signals at the moment. 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 $3.51 and $3.71. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 02, 2024, and so far it has fallen -15.40%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Patriot National Bancorp gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Patriot National Bancorp stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $0.307 between high and low, or 9.57%. For the last week, the stock has had daily average volatility of 2.03%.
Our recommended stop-loss: $3.22 (-3.94%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 22 days ago.)
Trading Expectations (PNBK) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Patriot National Bancorp to open at $3.35, and during the day (based on 14 day Average True Range), to move between $3.21 and $3.49, which gives a possible trading interval of +/-$0.141 (+/-4.22%) up or down from last closing price. If Patriot National Bancorp takes out the full calculated possible swing range there will be an estimated 8.44% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $3.71, some $0.360 (10.75%) from the current price of $3.35, our system finds the risk reward not very attractive.
Earnings coming up
Patriot National Bancorp will release earnings BMO on Friday, May 10, 2024. We will update the financials statements for Patriot National Bancorp, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.76% in the first trading day after earnings release.
Is Patriot National Bancorp stock A Buy?
Patriot National Bancorp holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Upgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Patriot National Bancorp of Friday, May 3, 2024
Fair opening price May 3, 2024 | Current price |
---|---|
$3.35 ( 0.132%) | $3.35 |
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 | |||
---|---|---|---|---|
Resistance | R3 | 3.66 | 9.29 % | |
R2 | 3.54 | 5.79 % | ||
R1 | 3.47 | 3.63 % | ||
Current price: | 3.35 | |||
Support | S1 | 3.24 | -3.36 % | |
S2 | 3.16 | -5.53 % | ||
S3 | 3.05 | -9.02 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 3.90 | 16.42 % | |
R2 | 3.83 | 14.18 % | ||
R1 | 3.71 | 10.75 % | ||
Current price | 3.35 | |||
Support | S1 | 0 | . | |
S2 | 0 | . | ||
S3 | 0 | . |
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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