First Citizens BancShares Stock Analysis
Technical stock analysis for Wed 12'th Dec 2018
First Citizens BancShares gained 1.37% in the last trading day, rising from $396.50 to $401.94 The price has fallen in 7 of the last 10 days and is down by -4.93% for this period. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 14 989 more shares were traded than the day before. In total, 42 718 shares bought and sold for approximately $17.17 million.
First Citizens BancShares 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 -11.13% during the next 3 months and, with 90% probability hold a price between $330.24 and $382.06 at the end of this period.
A buy signal was issued from a pivot bottom point on Tuesday December 11, 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. First Citizens BancShares holds sales signals from both short- and long-term moving averages. In addition, there is a general sales signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up there will be some resistance from the lines at $407.16 and $424.16. A break-up above any of these levels will issue buy signals.
Relative Strength Index (RSI)
RSI14 is 32 and the stock is currently not being overbought or oversold
Support & Resistance
First Citizens BancShares finds support from accumulated volume at $400.26.
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 $7.97 (1.99%) between high and low. For the last week, the stock has had a daily average volatility of 2.53%.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
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First Citizens BancShares holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
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