Truist Financial Corporation Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Stronger technical forecast for Truist Financial Corporation stock price after Wednesday trading.
(Updated on May 01, 2024)
The Truist Financial Corporation stock price gained 1.33% on the last trading day (Wednesday, 1st May 2024), rising from $37.55 to $38.05. During the last trading day the stock fluctuated 3.34% from a day low at $37.54 to a day high of $38.80. The price has risen in 7 of the last 10 days and is up by 6.7% over the past 2 weeks. Volume fell on the last day by -185 thousand shares and in total, 4 million shares were bought and sold for approximately $170.74 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 stock lies in the middle of a wide and 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 7.15% during the next 3 months and, with a 90% probability hold a price between $38.70 and $42.84 at the end of this 3-month period.
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TFC Signals & Forecast
Mostly positive signals in the chart today. The Truist Financial Corporation stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $38.24. On a fall, the stock will find some support from the long-term average at approximately $37.38. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 1.33%. 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.
A sell signal from a double top formation was found on Tuesday, April 23, 2024 and based on theory for this formation the price should fall by -7.45% to $35.22 within 17 trading days since signal was issued (Thursday, May 02, 2024).
Support, Risk & Stop-loss for Truist Financial Corporation stock
Truist Financial Corporation finds support from accumulated volume at $37.50 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 $1.26 between high and low, or 3.34%. For the last week, the stock has had daily average volatility of 2.18%.
Our recommended stop-loss: $36.19 (-4.89%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 1 day ago.)
Trading Expectations (TFC) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Truist Financial Corporation to open at $38.13, and during the day (based on 14 day Average True Range), to move between $37.06 and $39.04, which gives a possible trading interval of +/-$0.99 (+/-2.61%) up or down from last closing price. If Truist Financial Corporation takes out the full calculated possible swing range there will be an estimated 5.22% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $38.06 (0.03%) than the support at $37.50 (1.45%), 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?
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 Truist Financial Corporation 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: 2.408 Buy Candidate Upgraded
Predicted Opening Price for Truist Financial Corporation of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $38.13 ( 0.206%) | $38.05 |
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 | |||
|---|---|---|---|---|
| Resistance | R3 | 39.38 | 3.50 % | |
| R2 | 38.90 | 2.24 % | ||
| R1 | 38.61 | 1.47 % | ||
| Current price: | 38.05 | |||
| Support | S1 | 37.65 | -1.05 % | |
| S2 | 37.35 | -1.83 % | ||
| S3 | 36.87 | -3.09 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 38.98 | 2.44 % | |
| R2 | 38.84 | 2.08 % | ||
| R1 | 38.06 | 0.0263 % | ||
| Current price | 38.05 | |||
| Support | S1 | 37.50 | -1.45% | |
| S2 | 36.25 | -4.73% | ||
| S3 | 35.64 | -6.33% |
TFC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 23, 2024 | May 09, 2024 | Jun 03, 2024 | $0.520 | 1.37% |
| 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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