Fifth Third Bancorp Stock Forecast
Stronger technical forecast for Fifth Third Bancorp stock price after Monday trading.
(Updated on Apr 15, 2024)
The Fifth Third Bancorp stock price gained 0.261% on the last trading day (Monday, 15th Apr 2024), rising from $34.53 to $34.62. During the last trading day the stock fluctuated 3.19% from a day low at $34.36 to a day high of $35.45. The price has been going up and down for this period, and there has been a -5.67% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 3 million more shares were traded than the day before. In total, 6 million shares were bought and sold for approximately $196.36 million.
The stock lies in the lower part of a weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $34.57 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 7.32% during the next 3 months and, with a 90% probability hold a price between $37.10 and $40.42 at the end of this 3-month period.
FITB Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 12, 2024, and so far it has risen 0.261%. Further rise is indicated 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. The Fifth Third Bancorp stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell 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 $35.24 and $35.67. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Fifth Third Bancorp stock
Fifth Third Bancorp finds support from accumulated volume at $34.56 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 $1.10 (3.19%) between high and low. For the last week, the stock has had daily average volatility of 2.46%.
Our recommended stop-loss: $32.49 (-6.14%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 1 day ago.)
Trading Expectations (FITB) For The Upcoming Trading Day Of Tuesday 16th
For the upcoming trading day on Tuesday, 16th we expect Fifth Third Bancorp to open at $34.81, and during the day (based on 14 day Average True Range), to move between $33.72 and $35.52, which gives a possible trading interval of +/-$0.90 (+/-2.60%) up or down from last closing price. If Fifth Third Bancorp takes out the full calculated possible swing range there will be an estimated 5.19% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $34.56 (0.17%) than the resistance at $34.86 (0.69%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Fifth Third Bancorp will release earnings BMO on Friday, April 19, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.710. We will update the financials statements for Fifth Third Bancorp, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.57% in the first trading day after earnings release.
Is Fifth Third Bancorp stock A Buy?
Fifth Third Bancorp holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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: 0.396 Hold/Accumulate Upgraded
Predicted Opening Price for Fifth Third Bancorp of Tuesday, April 16, 2024
| Fair opening price April 16, 2024 | Current price |
|---|---|
| $34.81 ( 0.544%) | $34.62 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FITB
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 35.90 | 3.71 % | |
| R2 | 35.49 | 2.50 % | ||
| R1 | 35.23 | 1.75 % | ||
| Current price: | 34.62 | |||
| Support | S1 | 34.39 | -0.664 % | |
| S2 | 34.13 | -1.41 % | ||
| S3 | 33.71 | -2.62 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 36.37 | 5.05 % | |
| R2 | 35.24 | 1.79 % | ||
| R1 | 34.86 | 0.693 % | ||
| Current price | 34.62 | |||
| Support | S1 | 34.56 | -0.173% | |
| S2 | 34.21 | -1.18% | ||
| S3 | 33.24 | -3.99% |
FITB Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 18, 2024 | Mar 27, 2024 | Apr 15, 2024 | $0.350 | 1.01% |
| 2 | Dec 12, 2023 | Dec 28, 2023 | Jan 16, 2024 | $0.350 | 1.04% |
| 3 | Sep 11, 2023 | Sep 28, 2023 | Oct 16, 2023 | $0.350 | 1.42% |
| 4 | Jun 13, 2023 | Jun 30, 2023 | Jul 17, 2023 | $0.330 | 1.21% |
| 5 | Jun 13, 2023 | Jun 29, 2023 | Jul 17, 2023 | $0.330 | 1.21% |
FAQ
Click here for our free guide on how to buy Fifth Third Bancorp Stock.
