Truist Financial Corporation Stock Forecast
Green day on Tuesday for Truist Financial Corporation stock after gaining 0.790%
(Updated on Jul 02, 2024)
The Truist Financial Corporation stock price gained 0.790% on the last trading day (Tuesday, 2nd Jul 2024), rising from $39.25 to $39.56. It has now gained 4 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 1.83% from a day low at $38.86 to a day high of $39.57. The price has risen in 8 of the last 10 days and is up by 10.5% over the past 2 weeks. Volume fell on the last day by -1 million shares and in total, 8 million shares were bought and sold for approximately $306.38 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 stockis at the upper part of a wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $39.80 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Truist Financial Corporation stock with a 90% probability to be traded between $34.38 and $39.08 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners. 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.
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TFC Signals & Forecast
Mostly positive signals in the chart today. The Truist Financial Corporation 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 $38.13 and $37.69. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has risen 11.72%. 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.
Support, Risk & Stop-loss for Truist Financial Corporation stock
Truist Financial Corporation finds support from accumulated volume at $39.39 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.710 between high and low, or 1.83%. For the last week, the stock has had daily average volatility of 2.02%.
Our recommended stop-loss: $38.37 (-3.00%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 32 days ago.)
Trading Expectations (TFC) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Truist Financial Corporation to open at $39.33, and during the day (based on 14 day Average True Range), to move between $38.77 and $40.35, which gives a possible trading interval of +/-$0.792 (+/-2.00%) up or down from last closing price. If Truist Financial Corporation takes out the full calculated possible swing range there will be an estimated 4.01% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $39.39 (0.43%) than the resistance at $39.97 (1.04%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Truist Financial Corporation stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Truist Financial Corporation stock to perform well in the short-term period.
Current score: 1.357 Buy Candidate Unchanged
Predicted Opening Price for Truist Financial Corporation of Wednesday, July 3, 2024
Fair opening price July 3, 2024 | Current price |
---|---|
$39.33 ( 0.581%) | $39.56 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TFC
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 40.04 | 1.21% |
R2 | 39.77 | 0.528% |
R1 | 39.60 | 0.104% |
Price | 39.56 | |
S1 | 39.06 | -1.27% |
S2 | 38.89 | -1.69% |
S3 | 38.62 | -2.38% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 40.18 | 1.57% |
R2 | 40.15 | 1.49% |
R1 | 39.97 | 1.04% |
Price | 39.56 | |
S1 | 39.39 | -0.430% |
S2 | 38.85 | -1.79% |
S3 | 37.50 | -5.21% |
TFC Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 23, 2024 | May 09, 2024 | Jun 03, 2024 | $0.520 | 1.40% |
2 | Jan 23, 2024 | Feb 08, 2024 | Mar 01, 2024 | $0.520 | 1.47% |
3 | Oct 24, 2023 | Nov 09, 2023 | Dec 01, 2023 | $0.520 | 1.56% |
4 | Jul 25, 2023 | Aug 10, 2023 | Sep 01, 2023 | $0.520 | 1.68% |
5 | Apr 25, 2023 | May 11, 2023 | Jun 01, 2023 | $0.520 | 1.68% |
FAQ
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