Provident Bancorp Stock Forecast
Provident Bancorp stock price up more than 8.10% on Thursday
(Updated on Apr 25, 2024)
The Provident Bancorp stock price gained 8.10% on the last trading day (Thursday, 25th Apr 2024), rising from $8.64 to $9.34. 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 7.97% from a day low at $8.66 to a day high of $9.35. The price has been going up and down for this period, and there has been a 16.24% gain 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, 6 thousand more shares were traded than the day before. In total, 47 thousand shares were bought and sold for approximately $438.16 thousand.
Given the current short-term trend, the stock is expected to fall -23.10% during the next 3 months and, with a 90% probability hold a price between $5.76 and $7.18 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
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, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $8.17 and $8.77. 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 20.98%. Further rise is indicated until a new top pivot has been found. Provident Bancorp 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Provident Bancorp stock
On the downside, the stock finds support just below today's level from accumulated volume at $7.95 and $7.89. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Provident Bancorp finds support just below today's level at $7.95. If this is broken, then the next support from accumulated volume will be at $7.89 and $7.79.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.690 between high and low, or 7.97%. For the last week, the stock has had daily average volatility of 5.24%.
Our recommended stop-loss: $8.98 (-3.88%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (PVBC) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Provident Bancorp to open at $9.12, and during the day (based on 14 day Average True Range), to move between $8.97 and $9.71, which gives a possible trading interval of +/-$0.367 (+/-3.93%) up or down from last closing price. If Provident Bancorp takes out the full calculated possible swing range there will be an estimated 7.87% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $9.77 (4.60%) than the support at $7.95 (14.88%), 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 Provident Bancorp stock A Buy?
Provident Bancorp 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: 0.000 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 Provident Bancorp of Friday, April 26, 2024
Fair opening price April 26, 2024 | Current price |
---|---|
$9.12 ( 2.39%) | $9.34 |
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 | |||
---|---|---|---|---|
Resistance | R3 | 9.81 | 5.00 % | |
R2 | 9.54 | 2.17 % | ||
R1 | 9.38 | 0.431 % | ||
Current price: | 9.34 | |||
Support | S1 | 8.85 | -5.21 % | |
S2 | 8.69 | -6.96 % | ||
S3 | 8.43 | -9.78 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 11.35 | 21.52 % | |
R2 | 9.91 | 6.10 % | ||
R1 | 9.77 | 4.60 % | ||
Current price | 9.34 | |||
Support | S1 | 7.95 | -14.88% | |
S2 | 7.89 | -15.52% | ||
S3 | 7.79 | -16.60% |
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
Click here for our free guide on how to buy Provident Bancorp Stock.