PennyMac Financial Services Inc Stock Forecast
PennyMac Financial Services Inc stock price up 1.10% on Friday
(Updated on Apr 19, 2024)
The PennyMac Financial Services Inc stock price gained 1.10% on the last trading day (Friday, 19th Apr 2024), rising from $87.00 to $87.96. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.12% from a day low at $86.71 to a day high of $88.55. The price has risen in 6 of the last 10 days but is still down by -1.29% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 29 thousand more shares were traded than the day before. In total, 130 thousand shares were bought and sold for approximately $11.40 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 $83.82 and $93.17 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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PFSI Signals & Forecast
The PennyMac 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 $87.39 and $87.86. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 2.08%. 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 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 $1.84 (2.12%) between high and low. For the last week, the stock has had daily average volatility of 1.95%.
Our recommended stop-loss: $83.20 (-5.41%) (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 (PFSI) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect PennyMac Financial Services Inc to open at $87.74, and during the day (based on 14 day Average True Range), to move between $85.75 and $90.17, which gives a possible trading interval of +/-$2.21 (+/-2.51%) 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 5.02% 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 (1.02%) than the resistance at $89.26 (1.48%), 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
PennyMac Financial Services Inc will release earnings BMO on Wednesday, April 24, 2024.The consensus among the analysts for the expected earnings (EPS) is $2.34. We will update the financials statements for PennyMac Financial Services Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.77% in the first trading day after earnings release.
Is PennyMac Financial Services Inc stock A Buy?
PennyMac Financial Services Inc 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: 0.562 Hold/Accumulate Unchanged
Predicted Opening Price for PennyMac Financial Services Inc of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $87.74 ( 0.250%) | $87.96 |
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 | 89.58 | 1.84 % | |
| R2 | 88.88 | 1.04 % | ||
| R1 | 88.44 | 0.549 % | ||
| Current price: | 87.96 | |||
| Support | S1 | 87.04 | -1.05 % | |
| S2 | 86.60 | -1.54 % | ||
| S3 | 85.90 | -2.34 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 93.24 | 6.00 % | |
| R2 | 91.09 | 3.56 % | ||
| R1 | 89.26 | 1.48 % | ||
| Current price | 87.96 | |||
| Support | S1 | 87.06 | -1.02% | |
| S2 | 86.04 | -2.18% | ||
| S3 | 85.73 | -2.54% |
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
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