Pinnacle Financial Partners Stock Forecast

Pinnacle Financial Partners stock price ended at $80.85 on Thursday, after gaining 3.32%.
(Updated on May 02, 2024)

PNFP Signals & Forecast

A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 5.41%. 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 is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Pinnacle Financial Partners stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $81.22. On a fall, the stock will find some support from the short-term average at $79.99. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.

Sell

Special Signal Notification

Double Top Formation

A sell signal from a double top formation was found on Thursday, March 07, 2024 and based on theory for this formation the price should fall by -0.280% to $80.62 within 14 trading days since signal was issued (Friday, May 03, 2024).

Support, Risk & Stop-loss for Pinnacle Financial Partners stock

Pinnacle Financial Partners finds support from accumulated volume at $79.50 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $2.14 (2.72%) between high and low. For the last week, the stock has had daily average volatility of 2.84%.

Our recommended stop-loss: $77.62 (-3.99%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 2 days ago.)

Trading Expectations (PNFP) For The Upcoming Trading Day Of Friday 3rd

For the upcoming trading day on Friday, 3rd we expect Pinnacle Financial Partners to open at $80.20, and during the day (based on 14 day Average True Range), to move between $78.18 and $83.52, which gives a possible trading interval of +/-$2.67 (+/-3.30%) up or down from last closing price. If Pinnacle Financial Partners takes out the full calculated possible swing range there will be an estimated 6.59% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $81.34 (0.61%) than the support at $79.50 (1.67%), 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 Pinnacle Financial Partners stock A Buy?

Pinnacle Financial Partners holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: -0.869 Hold/Accumulate Unchanged

Predicted Opening Price for Pinnacle Financial Partners of Friday, May 3, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.