PennyMac Financial Services Inc Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
PennyMac Financial Services Inc stock downgraded to Hold/Accumulate
(Updated on Apr 15, 2024)
The PennyMac Financial Services Inc stock price fell by -0.93% on the last day (Monday, 15th Apr 2024) from $87.93 to $87.11. During the last trading day the stock fluctuated 2.68% from a day low at $86.42 to a day high of $88.74. The price has been going up and down for this period, and there has been a -2.92% loss for the last 2 weeks. 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 -26 thousand shares and in total, 119 thousand shares were bought and sold for approximately $10.40 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 PennyMac Financial Services Inc stock with a 90% probability to be traded between $86.42 and $96.47 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.
PFSI Signals & Forecast
There are few to no technical positive signals at the moment. The PennyMac Financial Services Inc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $88.87 and $87.65. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 21, 2024, and so far it has fallen -5.20%. 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 PennyMac Financial Services Inc stock
PennyMac Financial Services Inc finds support from accumulated volume at $87.06 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 $2.32 (2.68%) between high and low. For the last week, the stock has had daily average volatility of 2.54%.
Our recommended stop-loss: $83.11 (-4.60%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 16 days ago.)
Trading Expectations (PFSI) For The Upcoming Trading Day Of Tuesday 16th
For the upcoming trading day on Tuesday, 16th we expect PennyMac Financial Services Inc to open at $87.42, and during the day (based on 14 day Average True Range), to move between $84.72 and $89.50, which gives a possible trading interval of +/-$2.39 (+/-2.74%) up or down from last closing price. If PennyMac Financial Services Inc takes out the full calculated possible swing range there will be an estimated 5.48% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $87.06 (0.06%) than the resistance at $89.26 (2.47%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is PennyMac Financial Services Inc stock A Buy?
PennyMac Financial Services Inc 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: -0.420 Hold/Accumulate Downgraded
Predicted Opening Price for PennyMac Financial Services Inc of Tuesday, April 16, 2024
| Fair opening price April 16, 2024 | Current price |
|---|---|
| $87.42 ( 0.360%) | $87.11 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PFSI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 89.74 | 3.02 % | |
| R2 | 88.86 | 2.01 % | ||
| R1 | 88.31 | 1.38 % | ||
| Current price: | 87.11 | |||
| Support | S1 | 86.54 | -0.658 % | |
| S2 | 85.99 | -1.29 % | ||
| S3 | 85.10 | -2.30 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 93.24 | 7.04 % | |
| R2 | 91.09 | 4.57 % | ||
| R1 | 89.26 | 2.47 % | ||
| Current price | 87.11 | |||
| Support | S1 | 87.06 | -0.0574% | |
| S2 | 86.04 | -1.23% | ||
| S3 | 85.73 | -1.58% |
PFSI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 01, 2024 | Feb 12, 2024 | Feb 23, 2024 | $0.200 | 0.230% |
| 2 | Oct 26, 2023 | Nov 10, 2023 | Nov 22, 2023 | $0.200 | 0.256% |
| 3 | Jul 27, 2023 | Aug 14, 2023 | Aug 25, 2023 | $0.200 | 0.290% |
| 4 | Apr 27, 2023 | May 15, 2023 | Aug 25, 2023 | $0.200 | 0.290% |
| 5 | Feb 02, 2023 | Feb 13, 2023 | Feb 24, 2023 | $0.200 | 0.329% |
FAQ
Click here for our free guide on how to buy PennyMac Financial Services Inc Stock.
