Park National Corp Stock Forecast
Park National Corp stock upgraded from Buy Candidate to Strong Buy Candidate after Tuesday trading session.
(Updated on Jul 02, 2024)
The Park National Corp stock price gained 0.795% on the last trading day (Tuesday, 2nd Jul 2024), rising from $142.15 to $143.28. During the last trading day the stock fluctuated 2.49% from a day low at $141.15 to a day high of $144.66. The price has been going up and down for this period, and there has been a 5.46% gain for the last 2 weeks. Volume fell on the last day by -28 thousand shares and in total, 48 thousand shares were bought and sold for approximately $6.92 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 7.32% during the next 3 months and, with a 90% probability hold a price between $142.62 and $158.12 at the end of this 3-month period.
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PRK Signals & Forecast
Mostly positive signals in the chart today. The Park National Corp stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $139.18 and $137.46. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, June 10, 2024, and so far it has risen 7.20%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. The stock had a Golden Star Signal on Thursday, June 27, 2024 in the short-term chart.
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 Thursday, June 27, 2024 in the short-term chart.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.
Support, Risk & Stop-loss for Park National Corp stock
Park National Corp finds support from accumulated volume at $142.34 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 $3.51 between high and low, or 2.49%. For the last week the stock has had daily average volatility of 2.33%.
Our recommended stop-loss: $138.01 (-3.68%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 30 days ago.)
Trading Expectations (PRK) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Park National Corp to open at $143.03, and during the day (based on 14 day Average True Range), to move between $140.27 and $146.29, which gives a possible trading interval of +/-$3.01 (+/-2.10%) up or down from last closing price. If Park National Corp takes out the full calculated possible swing range there will be an estimated 4.20% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $142.34, some $0.94 (0.66%) from the current price of $143.28, our system finds the risk reward attractive.
Is Park National Corp stock A Buy?
Park National Corp holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 7.641 Strong Buy Candidate Upgraded
Predicted Opening Price for Park National Corp of Wednesday, July 3, 2024
Fair opening price July 3, 2024 | Current price |
---|---|
$143.03 ( 0.174%) | $143.28 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PRK
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 146.54 | 2.28% |
R2 | 145.20 | 1.34% |
R1 | 144.37 | 0.761% |
Price | 143.28 | |
S1 | 141.69 | -1.11% |
S2 | 140.86 | -1.69% |
S3 | 139.52 | -2.62% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0 | - |
R2 | 0 | - |
R1 | 0 | - |
Price | 143.28 | |
S1 | 142.34 | -0.656% |
S2 | 142.15 | -0.789% |
S3 | 135.65 | -5.33% |
PRK Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | May 16, 2024 | May 16, 2024 | Jun 10, 2024 | $1.06 | 0.793% |
2 | Feb 15, 2024 | Feb 15, 2024 | Mar 08, 2024 | $1.06 | 0.789% |
3 | Oct 23, 2023 | Nov 16, 2023 | Dec 08, 2023 | $1.05 | 0.84% |
4 | Jul 24, 2023 | Aug 17, 2023 | Sep 08, 2023 | $1.05 | 1.06% |
5 | Apr 21, 2023 | May 18, 2023 | Jun 09, 2023 | $1.05 | 0.96% |
FAQ
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