Raymond James Financial Inc Stock Forecast
Raymond James Financial Inc stock upgraded to Buy Candidate.
(Updated on May 08, 2024)
The Raymond James Financial Inc stock price gained 0.104% on the last trading day (Wednesday, 8th May 2024), rising from $125.27 to $125.40. During the last trading day the stock fluctuated 1.34% from a day low at $124.29 to a day high of $125.95. The price has risen in 6 of the last 10 days but is still down by -1.68% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 203 thousand more shares were traded than the day before. In total, 779 thousand shares were bought and sold for approximately $97.68 million.
The stock lies in the middle of a 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 7.05% during the next 3 months and, with a 90% probability hold a price between $131.52 and $142.54 at the end of this 3-month period.
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RJF Signals & Forecast
The Raymond James Financial Inc 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 $124.17 and $125.29. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. 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 Monday, April 08, 2024, and so far it has fallen -3.53%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Raymond James Financial Inc stock
Raymond James Financial Inc finds support from accumulated volume at $123.60 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 $1.66 between high and low, or 1.34%. For the last week the stock has had daily average volatility of 1.28%.
Our recommended stop-loss: $120.46 (-3.94%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 22 days ago.)
Trading Expectations (RJF) For The Upcoming Trading Day Of Thursday 9th
For the upcoming trading day on Thursday, 9th we expect Raymond James Financial Inc to open at $125.21, and during the day (based on 14 day Average True Range), to move between $123.03 and $127.77, which gives a possible trading interval of +/-$2.37 (+/-1.89%) up or down from last closing price. If Raymond James Financial Inc takes out the full calculated possible swing range there will be an estimated 3.79% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $126.46 (0.85%) than the support at $123.60 (1.44%), 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 Raymond James Financial Inc stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Raymond James Financial Inc stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.003 Buy Candidate Upgraded
Predicted Opening Price for Raymond James Financial Inc of Thursday, May 9, 2024
| Fair opening price May 9, 2024 | Current price |
|---|---|
| $125.21 ( 0.149%) | $125.40 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RJF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 126.87 | 1.17 % | |
| R2 | 126.24 | 0.669 % | ||
| R1 | 125.85 | 0.357 % | ||
| Current price: | 125.40 | |||
| Support | S1 | 124.58 | -0.655 % | |
| S2 | 124.19 | -0.97 % | ||
| S3 | 123.55 | -1.47 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 127.54 | 1.71 % | |
| R2 | 127.14 | 1.39 % | ||
| R1 | 126.46 | 0.85 % | ||
| Current price | 125.40 | |||
| Support | S1 | 123.60 | -1.44% | |
| S2 | 122.55 | -2.27% | ||
| S3 | 121.95 | -2.75% |
RJF Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 23, 2024 | Mar 28, 2024 | Apr 15, 2024 | $0.450 | 0.367% |
| 2 | Nov 30, 2023 | Dec 29, 2023 | Jan 16, 2024 | $0.450 | 0.412% |
| 3 | Aug 21, 2023 | Sep 29, 2023 | Oct 16, 2023 | $0.420 | 0.414% |
| 4 | May 24, 2023 | Jun 30, 2023 | Jul 17, 2023 | $0.420 | 0.394% |
| 5 | Feb 24, 2023 | Mar 31, 2023 | Jul 17, 2023 | $0.420 | 0.394% |
FAQ
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