Truist Financial Corporation Stock Forecast
Truist Financial Corporation stock upgraded from Sell Candidate to Hold/Accumulate after Tuesday trading session.
(Updated on Jul 02, 2024)
The Truist Financial Corporation stock price gained 1.92% on the last trading day (Tuesday, 2nd Jul 2024), rising from $19.81 to $20.19. During the last trading day the stock fluctuated 1.87% from a day low at $19.82 to a day high of $20.19. The price has been going up and down for this period, and there has been a 0.85% 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, 1 thousand more shares were traded than the day before. In total, 58 thousand shares were bought and sold for approximately $1.18 million.
The stock lies the upper part of a falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $20.35 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -2.62% during the next 3 months and, with a 90% probability hold a price between $18.74 and $19.81 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.
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TFC-PR 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 $20.06 and $20.03. A breakdown below any of these levels will issue sell signals. Truist Financial Corporation 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. A sell signal was issued from a pivot top point on Friday, May 31, 2024, and so far it has fallen -1.08%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The stock had a Golden Star Signal on Monday, June 24, 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.
Golden Star
The stock had a Golden Star Signal on Monday, June 24, 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.
A buy signal from a double bottom formation was found on Wednesday, May 29, 2024 and based on theory for this formation the price should go up by 6.35% to $21.47 within 27 trading days since signal was issued (Tuesday, July 09, 2024).
Support, Risk & Stop-loss for Truist Financial Corporation stock
Truist Financial Corporation finds support from accumulated volume at $20.17 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 $0.370 between high and low, or 1.87%. For the last week the stock has had daily average volatility of 1.88%.
Our recommended stop-loss: $19.41 (-3.84%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 23 days ago.)
Trading Expectations (TFC-PR) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Truist Financial Corporation to open at $20.07, and during the day (based on 14 day Average True Range), to move between $19.90 and $20.48, which gives a possible trading interval of +/-$0.290 (+/-1.43%) up or down from last closing price. If Truist Financial Corporation takes out the full calculated possible swing range there will be an estimated 2.87% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $20.17 (0.10%) than the resistance at $20.41 (1.09%), 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?
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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.941 Hold/Accumulate Upgraded
Predicted Opening Price for Truist Financial Corporation of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $20.07 ( 0.611%) | $20.19 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TFC-PR
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 20.44 | 1.22% |
| R2 | 20.30 | 0.522% |
| R1 | 20.21 | 0.0892% |
| Price | 20.19 | |
| S1 | 19.93 | -1.31% |
| S2 | 19.84 | -1.74% |
| S3 | 19.70 | -2.44% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 21.20 | 5.00% |
| R2 | 21.10 | 4.51% |
| R1 | 20.41 | 1.09% |
| Price | 20.19 | |
| S1 | 20.17 | -0.0991% |
| S2 | 20.05 | -0.693% |
| S3 | 19.98 | -1.04% |
TFC-PR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 09, 2024 | May 09, 2024 | Jun 03, 2024 | $0.297 | 1.48% |
| 2 | Feb 08, 2024 | Feb 08, 2024 | Feb 08, 2024 | $0.297 | 1.40% |
| 3 | Nov 09, 2023 | Nov 09, 2023 | Dec 01, 2023 | $0.297 | 1.50% |
| 4 | Aug 10, 2023 | Aug 10, 2023 | Sep 01, 2023 | $0.297 | 1.60% |
| 5 | May 11, 2023 | May 11, 2023 | Jun 01, 2023 | $0.297 | 1.45% |
FAQ
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