First BanCorp Stock Forecast
Stronger technical forecast for First BanCorp stock price after Friday trading.
(Updated on Apr 26, 2024)
The First BanCorp stock price fell by -1.93% on the last day (Friday, 26th Apr 2024) from $17.58 to $17.24. During the last trading day the stock fluctuated 2.85% from a day low at $17.22 to a day high of $17.71. The price has fallen in 5 of the last 10 days but is still up by 3.54% 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 -400 thousand shares and in total, 664 thousand shares were bought and sold for approximately $11.45 million.
The stock lies in the middle of a 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 2.36% during the next 3 months and, with a 90% probability hold a price between $16.73 and $18.17 at the end of this 3-month period.
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FBP Signals & Forecast
The First BanCorp stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, 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 $17.18 and $16.97. A breakdown below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, April 24, 2024, and so far it has fallen -2.60%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
A buy signal from a double bottom formation was found on Tuesday, April 16, 2024 and based on theory for this formation the price should go up by 8.02% to $18.62 within 22 trading days since signal was issued (Monday, April 29, 2024).
Support, Risk & Stop-loss for First BanCorp stock
First BanCorp finds support from accumulated volume at $16.90 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.490 (2.85%) between high and low. For the last week, the stock has had daily average volatility of 2.91%.
Our recommended stop-loss: $16.39 (-4.96%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (FBP) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect First BanCorp to open at $17.39, and during the day (based on 14 day Average True Range), to move between $16.81 and $17.67, which gives a possible trading interval of +/-$0.433 (+/-2.51%) up or down from last closing price. If First BanCorp takes out the full calculated possible swing range there will be an estimated 5.02% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $17.38 (0.81%) than the support at $16.90 (1.97%), 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 BanCorp 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 First BanCorp stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 1.922 Buy Candidate Upgraded
Predicted Opening Price for First BanCorp of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $17.39 ( 0.87%) | $17.24 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FBP
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 17.88 | 3.71 % | |
| R2 | 17.69 | 2.63 % | ||
| R1 | 17.58 | 1.96 % | ||
| Current price: | 17.24 | |||
| Support | S1 | 17.20 | -0.216 % | |
| S2 | 17.09 | -0.89 % | ||
| S3 | 16.90 | -1.97 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 17.54 | 1.74 % | |
| R2 | 17.51 | 1.57 % | ||
| R1 | 17.38 | 0.81 % | ||
| Current price | 17.24 | |||
| Support | S1 | 16.90 | -1.97% | |
| S2 | 16.49 | -4.35% | ||
| S3 | 16.48 | -4.41% |
FBP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 08, 2024 | Feb 22, 2024 | Mar 08, 2024 | $0.160 | 0.93% |
| 2 | Oct 31, 2023 | Nov 22, 2023 | Dec 08, 2023 | $0.140 | 0.87% |
| 3 | Jul 24, 2023 | Aug 23, 2023 | Sep 08, 2023 | $0.140 | 1.01% |
| 4 | Apr 27, 2023 | May 23, 2023 | Jun 09, 2023 | $0.140 | 1.10% |
| 5 | Feb 09, 2023 | Feb 23, 2023 | Mar 10, 2023 | $0.140 | 1.09% |
FAQ
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