Truist Financial Corporation Stock Forecast

Red day on Friday for Truist Financial Corporation stock after losing 0.85%
(Updated on Jun 28, 2024)

TFC-PI Signals & Forecast

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 $23.00 and $22.31. 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). 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 Thursday, June 27, 2024, and so far it has fallen -0.85%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. The stock had a Golden Star Signal on Tuesday, June 18, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Truist Financial Corporation stock

Truist Financial Corporation finds support from accumulated volume at $22.40 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $1.01 (4.37%) between high and low. For the last week, the stock has had daily average volatility of 2.27%.

Our recommended stop-loss: $22.76 (-2.48%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 12 days ago.)

Trading Expectations (TFC-PI) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Truist Financial Corporation to open at $23.54, and during the day (based on 14 day Average True Range), to move between $23.04 and $23.64, which gives a possible trading interval of +/-$0.296 (+/-1.27%) up or down from last closing price. If Truist Financial Corporation takes out the full calculated possible swing range there will be an estimated 2.54% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $23.49 (0.64%) than the support at $22.40 (4.03%), 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 Truist Financial Corporation stock A Buy?

Truist Financial Corporation 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.

Current score: -0.105 Hold/Accumulate Unchanged

Predicted Opening Price for Truist Financial Corporation of Monday, July 1, 2024

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