Preferred Bank Stock Forecast

Green day on Monday for Preferred Bank
(Updated on Apr 22, 2024)

PFBC Signals & Forecast

The Preferred Bank 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 $72.97 and $73.97. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 4.63%. 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 Preferred Bank stock

Preferred Bank finds support from accumulated volume at $74.14 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 $1.40 (1.89%) between high and low. For the last week, the stock has had daily average volatility of 2.55%.

Our recommended stop-loss: $71.48 (-4.49%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 3 days ago.)

Trading Expectations (PFBC) For The Upcoming Trading Day Of Tuesday 23rd

For the upcoming trading day on Tuesday, 23rd we expect Preferred Bank to open at $74.77, and during the day (based on 14 day Average True Range), to move between $73.07 and $76.61, which gives a possible trading interval of +/-$1.77 (+/-2.37%) up or down from last closing price. If Preferred Bank takes out the full calculated possible swing range there will be an estimated 4.74% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $75.25 (0.55%) than the support at $74.14 (0.94%), 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 Preferred Bank stock A Buy?

Preferred Bank 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.

Current score: 0.161 Hold/Accumulate Unchanged

Predicted Opening Price for Preferred Bank of Tuesday, April 23, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.