Piedmont Office Realty Trust Inc Stock Forecast
Red day on Thursday for Piedmont Office Realty Trust Inc stock after losing 2.47%
(Updated on Apr 25, 2024)
The Piedmont Office Realty Trust Inc stock price fell by -2.47% on the last day (Thursday, 25th Apr 2024) from $6.89 to $6.72. During the last trading day the stock fluctuated 1.95% from a day low at $6.68 to a day high of $6.81. The price has fallen in 6 of the last 10 days and is down by -0.3% for this period. 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 -334 thousand shares and in total, 648 thousand shares were bought and sold for approximately $4.36 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Piedmont Office Realty Trust Inc stock with a 90% probability to be traded between $5.92 and $6.99 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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PDM Signals & Forecast
The Piedmont Office Realty Trust Inc 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 $6.65 and $6.57. 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 Thursday, March 28, 2024, and so far it has fallen -4.41%. 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.
Support, Risk & Stop-loss for Piedmont Office Realty Trust Inc stock
Piedmont Office Realty Trust Inc finds support from accumulated volume at $6.39 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 $0.130 between high and low, or 1.95%. For the last week, the stock has had daily average volatility of 3.25%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PDM) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Piedmont Office Realty Trust Inc to open at $6.74, and during the day (based on 14 day Average True Range), to move between $6.49 and $6.95, which gives a possible trading interval of +/-$0.232 (+/-3.45%) up or down from last closing price. If Piedmont Office Realty Trust Inc takes out the full calculated possible swing range there will be an estimated 6.89% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $6.80 (1.19%) than the support at $6.39 (4.91%), 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
Piedmont Office Realty Trust Inc will release earnings AMC on Tuesday, April 30, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.390. We will update the financials statements for Piedmont Office Realty Trust Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.82% in the first trading day after earnings release.
Is Piedmont Office Realty Trust Inc stock A Buy?
Piedmont Office Realty Trust Inc holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -1.762 Sell Candidate Unchanged
Predicted Opening Price for Piedmont Office Realty Trust Inc of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $6.74 ( 0.248%) | $6.72 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PDM
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.87 | 2.18 % | |
| R2 | 6.82 | 1.44 % | ||
| R1 | 6.79 | 0.99 % | ||
| Current price: | 6.72 | |||
| Support | S1 | 6.69 | -0.491 % | |
| S2 | 6.66 | -0.95 % | ||
| S3 | 6.61 | -1.69 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.89 | 2.53 % | |
| R2 | 6.87 | 2.23 % | ||
| R1 | 6.80 | 1.19 % | ||
| Current price | 6.72 | |||
| Support | S1 | 6.39 | -4.91% | |
| S2 | 6.28 | -6.55% | ||
| S3 | 6.27 | -6.70% |
PDM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 01, 2024 | Feb 22, 2024 | Mar 15, 2024 | $0.125 | 1.98% |
| 2 | Oct 25, 2023 | Nov 22, 2023 | Jan 02, 2024 | $0.130 | 1.76% |
| 3 | Jul 26, 2023 | Aug 24, 2023 | Sep 15, 2023 | $0.125 | 1.97% |
| 4 | May 01, 2023 | May 25, 2023 | Jun 16, 2023 | $0.210 | 2.96% |
| 5 | Feb 01, 2023 | Feb 23, 2023 | Mar 17, 2023 | $0.210 | 3.00% |
FAQ
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