Pinnacle Financial Partners, Inc. Stock Forecast
Pinnacle Financial Partners, Inc. stock upgraded from Sell Candidate to Hold/Accumulate after Monday trading session.
(Updated on Jun 17, 2024)
The Pinnacle Financial Partners, Inc. stock price gained 0.212% on the last trading day (Monday, 17th Jun 2024), rising from $23.45 to $23.50. During the last trading day the stock fluctuated 1.73% from a day low at $23.39 to a day high of $23.80. The price has been going up and down for this period, and there has been a -0.17% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 thousand more shares were traded than the day before. In total, 10 thousand shares were bought and sold for approximately $227.08 thousand.
The stock is moving within a narrow and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Pinnacle Financial Partners, Inc. stock with a 90% probability to be traded between $22.53 and $23.50 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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PNFPP Signals & Forecast
The Pinnacle Financial Partners, Inc. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $23.54. On a fall, the stock will find some support from the long-term average at approximately $23.39. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Pinnacle Financial Partners, Inc. has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. 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 Thursday, June 13, 2024, and so far it has fallen -1.43%. Further fall is indicated until a new bottom pivot has been found. The stock had a Golden Star Signal on Friday, May 10, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Friday, May 10, 2024.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star
The stock had a Golden Star Signal on Friday, May 10, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Friday, May 10, 2024.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Friday, May 10, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Friday, May 10, 2024.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
A sell signal from a double top formation was found on Friday, May 31, 2024 and based on theory for this formation the price should fall by -4.91% to $22.35 within 11 trading days since signal was issued (Tuesday, June 18, 2024).
Support, Risk & Stop-loss for Pinnacle Financial Partners, Inc. stock
Pinnacle Financial Partners, Inc. finds support from accumulated volume at $23.35 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 with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.406 between high and low, or 1.73%. For the last week the stock has had daily average volatility of 1.78%.
Our recommended stop-loss: $22.46 (-4.42%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 4 days ago.)
Trading Expectations (PNFPP) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Pinnacle Financial Partners, Inc. to open at $23.56, and during the day (based on 14 day Average True Range), to move between $23.12 and $23.88, which gives a possible trading interval of +/-$0.379 (+/-1.61%) up or down from last closing price. If Pinnacle Financial Partners, Inc. takes out the full calculated possible swing range there will be an estimated 3.22% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $23.35 (0.64%) than the resistance at $23.75 (1.06%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Pinnacle Financial Partners, Inc. stock A Buy?
Pinnacle Financial Partners, Inc. 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.163 Hold/Accumulate Upgraded
Predicted Opening Price for Pinnacle Financial Partners, Inc. of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| $23.56 ( 0.276%) | $23.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PNFPP
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 23.97 | 2.00% |
| R2 | 23.82 | 1.34% |
| R1 | 23.72 | 0.94% |
| Price | 23.50 | |
| S1 | 23.41 | -0.383% |
| S2 | 23.31 | -0.791% |
| S3 | 23.16 | -1.45% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 23.85 | 1.49% |
| R2 | 23.80 | 1.28% |
| R1 | 23.75 | 1.06% |
| Price | 23.50 | |
| S1 | 23.35 | -0.638% |
| S2 | 23.20 | -1.28% |
| S3 | 23.07 | -1.83% |
PNFPP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 23, 2024 | May 16, 2024 | Jun 01, 2024 | $0.422 | 1.78% |
| 2 | Jan 16, 2024 | Feb 14, 2024 | Mar 01, 2024 | $0.422 | 1.78% |
| 3 | Oct 17, 2023 | Nov 15, 2023 | Dec 01, 2023 | $0.422 | 1.80% |
| 4 | Jul 18, 2023 | Aug 16, 2023 | Sep 01, 2023 | $0.422 | 1.87% |
| 5 | Apr 18, 2023 | May 16, 2023 | Jun 01, 2023 | $0.422 | 1.88% |
FAQ
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