Orrstown Financial Services Inc Stock Forecast
Orrstown Financial Services Inc stock upgraded to Buy Candidate.
(Updated on Apr 19, 2024)
The Orrstown Financial Services Inc stock price gained 3.72% on the last trading day (Friday, 19th Apr 2024), rising from $25.03 to $25.96. During the last trading day the stock fluctuated 5.02% from a day low at $24.90 to a day high of $26.15. The price has been going up and down for this period, and there has been a 1.33% gain 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, 23 thousand more shares were traded than the day before. In total, 84 thousand shares were bought and sold for approximately $2.17 million.
The stock lies in the middle of a 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 -9.84% during the next 3 months and, with a 90% probability hold a price between $22.35 and $23.99 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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ORRF Signals & Forecast
The Orrstown Financial Services Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $25.19 and $25.91. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 12, 2024, and so far it has risen 3.76%. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Orrstown Financial Services Inc stock
Orrstown Financial Services Inc finds support from accumulated volume at $25.75 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 $1.25 (5.02%) between high and low. For the last week, the stock has had daily average volatility of 2.33%.
Our recommended stop-loss: $24.68 (-4.93%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (ORRF) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Orrstown Financial Services Inc to open at $25.67, and during the day (based on 14 day Average True Range), to move between $25.39 and $26.53, which gives a possible trading interval of +/-$0.568 (+/-2.19%) up or down from last closing price. If Orrstown Financial Services Inc takes out the full calculated possible swing range there will be an estimated 4.38% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $25.97 (0.04%) than the support at $25.75 (0.81%), 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.
Earnings coming up
Orrstown Financial Services Inc will release earnings BMO on Tuesday, April 23, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.730. We will update the financials statements for Orrstown Financial Services Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.10% in the first trading day after earnings release.
Is Orrstown Financial Services Inc stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for 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: 2.372 Buy Candidate Upgraded
Predicted Opening Price for Orrstown Financial Services Inc of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $25.67 ( 1.12%) | $25.96 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ORRF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 26.92 | 3.70 % | |
| R2 | 26.44 | 1.86 % | ||
| R1 | 26.15 | 0.722 % | ||
| Current price: | 25.96 | |||
| Support | S1 | 25.19 | -2.96 % | |
| S2 | 24.90 | -4.09 % | ||
| S3 | 24.42 | -5.93 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 26.62 | 2.54 % | |
| R2 | 26.04 | 0.308 % | ||
| R1 | 25.97 | 0.0385 % | ||
| Current price | 25.96 | |||
| Support | S1 | 25.75 | -0.81% | |
| S2 | 25.59 | -1.43% | ||
| S3 | 25.24 | -2.77% |
ORRF Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 23, 2024 | Feb 05, 2024 | Feb 13, 2024 | $0.200 | 0.770% |
| 2 | Oct 24, 2023 | Nov 06, 2023 | Nov 14, 2023 | $0.200 | 0.83% |
| 3 | Jul 24, 2023 | Aug 07, 2023 | Aug 15, 2023 | $0.200 | 0.89% |
| 4 | Apr 24, 2023 | May 08, 2023 | May 16, 2023 | $0.200 | 1.19% |
| 5 | Jan 24, 2023 | Feb 06, 2023 | Feb 14, 2023 | $0.200 | 0.85% |
FAQ
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