FBP - First BanCorp

Industry: Foreign Regional Banks Sector: Financial Exchange: NYSE

Fri 19'th Oct 2018

PERIOD 2018-07-20 - 2018-10-19
CHANGE 2.23%
PRICE $9.18
VOLUME
Buy
TREND
Buy

MV LONG
Buy

MV SHORT
Buy

PIVOT
Buy

MACD
Sell

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First BanCorp Stock Analysis

Technical stock analysis for Fri 19'th Oct 2018

Buy candidate since 2018-10-15 Gain 3.96%
Shorts 1.77% ( 2018-09-28 )
Cash n/a
Loans n/a
Beta 1.85
ROA 0.62

First BanCorp gained 2.23% in the last trading day, rising from $8.98 to $9.18 The price has risen in 6 of the last 10 days and is up by 2.46% over the past 2 weeks. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 0.99 million more shares were traded than the day before. In total, 1.85 million shares bought and sold for approximately $16.94 million.

Trend

First BanCorp 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 9.19% during the next 3 months and, with 90% probability hold a price between $9.45 and $10.43 at the end of this period.

Click here for today's Top 5 Trending Companies

Signals

Only positive signals in the chart today. First BanCorp holds buy signals from both short- and long-term moving averages. In addition, 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 $8.97 and $8.85. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday October 12, 2018, which indicates further gains until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal.

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Relative Strength Index (RSI)

RSI14 is 54 and the stock is currently not being overbought or oversold

Access full RSI 14 and RSI 21 lists

Support & Resistance

First BanCorp finds support from accumulated volume at $9.17.

Support: $9.17 Price: $9.18 Resistance: $9.24

Risk

This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved $0.51 (5.75%) between high and low. For the last week, the stock has had a daily average volatility of 3.45%.

Our recommended stoploss: $8.77 (-4.45%) (This stock has low daily movements and this gives low risk. There is a buy signal from pivot bottom found 5 days ago.)

Overall risk:

Very Low Low Medium High Very High

Evaluation

First BanCorp holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our recommendation for this stock since last evaluation from a Buy Candidate to a Strong Buy Candidate.

Strong Buy Candidate

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FBP $9.18 $0.20(2.23%)
FBP is up $0.20 today, but where's it headed in November?
Zacks Investment Research is releasing its prediction for FBP based on the 1-3 month system that more than doubles the S&P 500.

Click here – the FBP analysis is free »

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