First Financial Bancorp. Stock Forecast
First Financial Bancorp. stock upgraded to Hold/Accumulate.
(Updated on Apr 26, 2024)
The First Financial Bancorp. stock price gained 0.94% on the last trading day (Friday, 26th Apr 2024), rising from $22.36 to $22.57. During the last trading day the stock fluctuated 3.31% from a day low at $22.07 to a day high of $22.80. The price has risen in 6 of the last 10 days and is up by 6.56% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 115 thousand more shares were traded than the day before. In total, 455 thousand shares were bought and sold for approximately $10.28 million.
The stockhas broken the falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $22.57, a level that may pose a second chance to hit a runner. According to fan-theory $24.43 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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FFBC Signals & Forecast
The First Financial 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 $22.14 and $21.68. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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. A sell signal was issued from a pivot top point on Tuesday, April 23, 2024, and so far it has fallen -0.133%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for First Financial Bancorp. stock
First Financial Bancorp. finds support from accumulated volume at $22.36 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 $0.730 between high and low, or 3.31%. For the last week, the stock has had daily average volatility of 2.47%.
Our recommended stop-loss: $21.69 (-3.89%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 3 days ago.)
Trading Expectations (FFBC) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect First Financial Bancorp. to open at $22.48, and during the day (based on 14 day Average True Range), to move between $22.04 and $23.10, which gives a possible trading interval of +/-$0.533 (+/-2.36%) up or down from last closing price. If First Financial Bancorp. takes out the full calculated possible swing range there will be an estimated 4.73% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $22.60 (0.13%) than the support at $22.36 (0.93%), 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 Financial Bancorp. stock A Buy?
First Financial Bancorp. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.534 Hold/Accumulate Upgraded
Predicted Opening Price for First Financial Bancorp. of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $22.48 ( 0.399%) | $22.57 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FFBC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 23.21 | 2.84 % | |
| R2 | 22.93 | 1.60 % | ||
| R1 | 22.76 | 0.84 % | ||
| Current price: | 22.57 | |||
| Support | S1 | 22.20 | -1.63 % | |
| S2 | 22.03 | -2.40 % | ||
| S3 | 21.75 | -3.63 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 23.53 | 4.25 % | |
| R2 | 22.64 | 0.310 % | ||
| R1 | 22.60 | 0.133 % | ||
| Current price | 22.57 | |||
| Support | S1 | 22.36 | -0.93% | |
| S2 | 21.37 | -5.32% | ||
| S3 | 21.12 | -6.42% |
FFBC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 25, 2024 | Feb 29, 2024 | Mar 15, 2024 | $0.230 | 1.08% |
| 2 | Oct 24, 2023 | Nov 30, 2023 | Dec 15, 2023 | $0.230 | 0.97% |
| 3 | Jul 25, 2023 | Aug 31, 2023 | Sep 15, 2023 | $0.230 | 1.13% |
| 4 | Apr 25, 2023 | May 31, 2023 | Jun 15, 2023 | $0.230 | 1.05% |
| 5 | Jan 24, 2023 | Feb 28, 2023 | Mar 15, 2023 | $0.230 | 1.07% |
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