Valley National Bancorp Stock Forecast
Valley National Bancorp stock price ended at $7.84 on Wednesday, after losing 0.759%.
(Updated on Apr 24, 2024)
The Valley National Bancorp stock price fell by -0.759% on the last day (Wednesday, 24th Apr 2024) from $7.90 to $7.84. During the last trading day the stock fluctuated 3.19% from a day low at $7.69 to a day high of $7.94. The price has risen in 6 of the last 10 days and is up by 7.1% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -2 million shares and in total, 8 million shares were bought and sold for approximately $62.18 million.
The stock lies in the middle of a wide and 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 -19.07% during the next 3 months and, with a 90% probability hold a price between $5.67 and $6.95 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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VLY Signals & Forecast
The Valley National Bancorp stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $7.57 and $7.70. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 8.89%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Valley National Bancorp stock
Valley National Bancorp finds support from accumulated volume at $7.77 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 $0.245 between high and low, or 3.19%. For the last week, the stock has had daily average volatility of 4.27%.
Our recommended stop-loss: $7.54 (-3.84%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (VLY) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Valley National Bancorp to open at $7.82, and during the day (based on 14 day Average True Range), to move between $7.51 and $8.17, which gives a possible trading interval of +/-$0.327 (+/-4.17%) up or down from last closing price. If Valley National Bancorp takes out the full calculated possible swing range there will be an estimated 8.33% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $7.90 (0.77%) than the support at $7.77 (0.89%), 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.
Earnings coming up
Valley National Bancorp will release earnings BMO on Thursday, April 25, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.200. We will update the financials statements for Valley National Bancorp, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.92% in the first trading day after earnings release.
Is Valley National Bancorp stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 2.808 Buy Candidate Unchanged
Predicted Opening Price for Valley National Bancorp of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $7.82 ( 0.234%) | $7.84 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for VLY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.07 | 2.89 % | |
| R2 | 7.97 | 1.70 % | ||
| R1 | 7.92 | 0.96 % | ||
| Current price: | 7.84 | |||
| Support | S1 | 7.73 | -1.43 % | |
| S2 | 7.67 | -2.17 % | ||
| S3 | 7.58 | -3.36 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.16 | 4.08 % | |
| R2 | 7.98 | 1.79 % | ||
| R1 | 7.90 | 0.765 % | ||
| Current price | 7.84 | |||
| Support | S1 | 7.77 | -0.89% | |
| S2 | 7.57 | -3.44% | ||
| S3 | 7.54 | -3.83% |
VLY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 21, 2024 | Mar 13, 2024 | Apr 02, 2024 | $0.110 | 1.45% |
| 2 | Dec 06, 2023 | Dec 13, 2023 | Jan 03, 2024 | $0.110 | 1.06% |
| 3 | Aug 14, 2023 | Sep 13, 2023 | Oct 02, 2023 | $0.110 | 1.33% |
| 4 | Aug 06, 2023 | Jun 14, 2023 | Jul 03, 2023 | $0.110 | 1.38% |
| 5 | Mar 01, 2023 | Mar 14, 2023 | Apr 03, 2023 | $0.110 | 1.21% |
FAQ
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