First Connecticut Bancorp Stock Forecast
On Friday, First Connecticut Bancorp stock price gained an impressive 7.78%
(Updated on Feb 07, 2020)
The First Connecticut Bancorp stock price gained 7.78% on the last trading day (Friday, 7th Feb 2020), rising from $9.00 to $9.70. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 4.86% from a day low at $9.25 to a day high of $9.70. The price has been going up and down for this period, and there has been a -0.92% loss for the last 2 weeks. Volume fell on the last day by -1 thousand shares and in total, 707 shares were bought and sold for approximately $6.86 thousand. 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 the upper part of a very wide and 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 $9.71 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 -18.71% during the next 3 months and, with a 90% probability hold a price between $6.08 and $7.89 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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FBNK Signals & Forecast
There are mixed signals in the stock today. The First Connecticut Bancorp stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $10.22. On a fall, the stock will find some support from the short-term average at $9.26. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued. A buy signal was issued from a pivot bottom point on Tuesday, February 04, 2020, and so far it has risen 14.39%. Further rise is indicated until a new top pivot has been found.
Support, Risk & Stop-loss for First Connecticut Bancorp stock
On the downside, the stock finds support just below today's level from accumulated volume at $9.00 and $8.50. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, First Connecticut Bancorp finds support just below today's level at $9.00. If this is broken, then the next support from accumulated volume will be at $8.50 and $8.48.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0.450 between high and low, or 4.86%. For the last week the stock has had daily average volatility of 4.99%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (FBNK) For The Upcoming Trading Day Of Monday 10th
For the upcoming trading day on Monday, 10th we expect First Connecticut Bancorp to open at $9.55, and during the day (based on 14 day Average True Range), to move between $8.97 and $10.43, which gives a possible trading interval of +/-$0.729 (+/-7.51%) up or down from last closing price. If First Connecticut Bancorp takes out the full calculated possible swing range there will be an estimated 15.03% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $9.79 (0.93%) than the support at $9.00 (7.22%), 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 First Connecticut Bancorp stock A Buy?
First Connecticut Bancorp holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -2.443 Sell Candidate Unchanged
Predicted Opening Price for First Connecticut Bancorp of Monday, February 10, 2020
| Fair opening price February 10, 2020 | Current price |
|---|---|
| $9.55 ( 1.55%) | $9.70 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FBNK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.00 | 3.09 % | |
| R2 | 9.83 | 1.32 % | ||
| R1 | 9.72 | 0.226 % | ||
| Current price: | 9.70 | |||
| Support | S1 | 9.38 | -3.32 % | |
| S2 | 9.27 | -4.41 % | ||
| S3 | 9.10 | -6.19 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.48 | 18.35 % | |
| R2 | 11.46 | 18.14 % | ||
| R1 | 9.79 | 0.93 % | ||
| Current price | 9.70 | |||
| Support | S1 | 9.00 | -7.22% | |
| S2 | 8.50 | -12.37% | ||
| S3 | 8.48 | -12.58% |
FAQ
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