Truist Financial Corporation Stock Forecast
Truist Financial Corporation stock downgraded to Sell Candidate
(Updated on Jun 25, 2024)
The Truist Financial Corporation stock price fell by -0.150% on the last day (Tuesday, 25th Jun 2024) from $20.01 to $19.98. During the last trading day the stock fluctuated 0.675% from a day low at $19.92 to a day high of $20.05. The price has fallen in 7 of the last 10 days and is down by -0.45% for this period. Volume has increased on the last day by 97 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 139 thousand shares were bought and sold for approximately $2.78 million.
The stock lies in the middle of a falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -4.83% during the next 3 months and, with a 90% probability hold a price between $18.35 and $19.79 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
TFC-PR Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, May 29, 2024, and so far it has risen 1.99%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Truist Financial Corporation stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $20.02 and $20.06. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Truist Financial Corporation stock
Truist Financial Corporation finds support from accumulated volume at $19.87 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 $0.134 between high and low, or 0.675%. For the last week the stock has had daily average volatility of 0.687%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (TFC-PR) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Truist Financial Corporation to open at $19.98, and during the day (based on 14 day Average True Range), to move between $19.73 and $20.23, which gives a possible trading interval of +/-$0.250 (+/-1.25%) up or down from last closing price. If Truist Financial Corporation takes out the full calculated possible swing range there will be an estimated 2.51% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $19.87 (0.55%) than the resistance at $20.17 (0.95%), 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 negative signals and is within a falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.859 Sell Candidate Downgraded
Predicted Opening Price for Truist Financial Corporation of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $19.98 ( 0.0092%) | $19.98 |
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 | 20.12 | 0.682% |
| R2 | 20.06 | 0.425% |
| R1 | 20.03 | 0.266% |
| Price | 19.98 | |
| S1 | 19.93 | -0.248% |
| S2 | 19.90 | -0.407% |
| S3 | 19.85 | -0.664% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 21.30 | 6.61% |
| R2 | 21.02 | 5.21% |
| R1 | 20.17 | 0.95% |
| Price | 19.98 | |
| S1 | 19.87 | -0.551% |
| S2 | 19.84 | -0.701% |
| S3 | 19.81 | -0.85% |
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
Click here for our free guide on how to buy Truist Financial Corporation Stock.
