Provident Bancorp Stock Forecast
Green day on Tuesday for Provident Bancorp stock after gaining 3.23%
(Updated on Jul 02, 2024)
The Provident Bancorp stock price gained 3.23% on the last trading day (Tuesday, 2nd Jul 2024), rising from $10.22 to $10.55. It has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 5.04% from a day low at $10.11 to a day high of $10.62. The price has risen in 7 of the last 10 days and is up by 7.87% over the past 2 weeks. Volume fell on the last day by -15 thousand shares and in total, 72 thousand shares were bought and sold for approximately $755.44 thousand. 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 strong 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 21.21% during the next 3 months and, with a 90% probability hold a price between $11.27 and $13.25 at the end of this 3-month period.
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PVBC Signals & Forecast
The Provident Bancorp 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 $10.05 and $9.68. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 36.66%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for Provident Bancorp stock
Provident Bancorp finds support from accumulated volume at $10.19 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0.510 between high and low, or 5.04%. For the last week the stock has had daily average volatility of 5.81%
Our recommended stop-loss: $10.23 (-3.02%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 64 days ago.)
Trading Expectations (PVBC) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Provident Bancorp to open at $10.43, and during the day (based on 14 day Average True Range), to move between $10.20 and $10.90, which gives a possible trading interval of +/-$0.354 (+/-3.35%) up or down from last closing price. If Provident Bancorp takes out the full calculated possible swing range there will be an estimated 6.71% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $10.19, some $0.360 (3.41%) from the current price of $10.55, our system finds the risk reward attractive.
Is Provident Bancorp stock A Buy?
Provident Bancorp holds several positive signals and is within a strong 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.
Current score: 5.758 Strong Buy Candidate Unchanged
Predicted Opening Price for Provident Bancorp of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $10.43 ( 1.17%) | $10.55 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PVBC
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 10.94 | 3.67% |
| R2 | 10.74 | 1.82% |
| R1 | 10.62 | 0.678% |
| Price | 10.55 | |
| S1 | 10.23 | -3.02% |
| S2 | 10.11 | -4.16% |
| S3 | 9.92 | -6.00% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 10.55 | |
| S1 | 10.19 | -3.41% |
| S2 | 9.98 | -5.40% |
| S3 | 9.60 | -9.00% |
PVBC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 28, 2022 | Aug 11, 2022 | Aug 26, 2022 | $0.0400 | 0.275% |
| 2 | Apr 28, 2022 | May 12, 2022 | May 27, 2022 | $0.0400 | 0.265% |
| 3 | Jan 27, 2022 | Feb 09, 2022 | Feb 25, 2022 | $0.0400 | 0.239% |
| 4 | Oct 28, 2021 | Nov 12, 2021 | Nov 29, 2021 | $0.0400 | 0.221% |
| 5 | Jul 29, 2021 | Aug 12, 2021 | Aug 27, 2021 | $0.0400 | 0.242% |
FAQ
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