Penns Woods Bancorp Stock Forecast

Weaker technical forecast for Penns Woods Bancorp as stock downgraded to Hold/Accumulate.
(Updated on May 06, 2024)

PWOD Signals & Forecast

A buy signal was issued from a pivot bottom point on Monday, April 29, 2024, and so far it has risen 5.94%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Penns Woods Bancorp 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 $18.30. On a fall, the stock will find some support from the short-term average at $17.98. 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. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.

Support, Risk & Stop-loss for Penns Woods Bancorp stock

Penns Woods Bancorp finds support from accumulated volume at $17.60 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.495 between high and low, or 2.73%. For the last week the stock has had daily average volatility of 3.45%.

Our recommended stop-loss: $17.45 (-4.06%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 5 days ago.)

Trading Expectations (PWOD) For The Upcoming Trading Day Of Tuesday 7th

For the upcoming trading day on Tuesday, 7th we expect Penns Woods Bancorp to open at $18.34, and during the day (based on 14 day Average True Range), to move between $17.63 and $18.75, which gives a possible trading interval of +/-$0.560 (+/-3.08%) up or down from last closing price. If Penns Woods Bancorp takes out the full calculated possible swing range there will be an estimated 6.15% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $18.77 (3.19%) than the support at $17.60 (3.24%), 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 Penns Woods Bancorp stock A Buy?

Penns Woods 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: -0.681 Hold/Accumulate Downgraded

Predicted Opening Price for Penns Woods Bancorp of Tuesday, May 7, 2024

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