Park Hotels & Resorts Inc Stock Forecast
Park Hotels & Resorts Inc stock downgraded from Hold/Accumulate to Sell Candidate after Thursday trading session.
(Updated on Apr 18, 2024)
The Park Hotels & Resorts Inc stock price fell by -1.04% on the last day (Thursday, 18th Apr 2024) from $16.30 to $16.13. It has now fallen 5 days in a row. During the last trading day the stock fluctuated 2.12% from a day low at $16.06 to a day high of $16.40. The price has fallen in 7 of the last 10 days and is down by -5.78% 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 -642 thousand shares and in total, 1 million shares were bought and sold for approximately $23.53 million.
The stock has broken the strong rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at $16.45. A reaction back to this level may hold a second chance to get out before further falls.
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PK Signals & Forecast
There are few to no technical positive signals at the moment. The Park Hotels & Resorts Inc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $16.76 and $17.22. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 08, 2024, and so far it has fallen -9.23%. 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 Park Hotels & Resorts Inc stock
Park Hotels & Resorts Inc finds support from accumulated volume at $15.64 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 $0.340 (2.12%) between high and low. For the last week, the stock has had daily average volatility of 3.09%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PK) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Park Hotels & Resorts Inc to open at $16.20, and during the day (based on 14 day Average True Range), to move between $15.69 and $16.57, which gives a possible trading interval of +/-$0.438 (+/-2.72%) up or down from last closing price. If Park Hotels & Resorts Inc takes out the full calculated possible swing range there will be an estimated 5.43% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $16.48 (2.17%) than the support at $15.64 (3.04%), 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 Park Hotels & Resorts Inc stock A Buy?
The Park Hotels & Resorts Inc stock holds several negative signals and despite the positive trend, we believe Park Hotels & Resorts Inc will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.100 Sell Candidate Downgraded
Predicted Opening Price for Park Hotels & Resorts Inc of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $16.20 ( 0.413%) | $16.13 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 16.54 | 2.52 % | |
| R2 | 16.41 | 1.72 % | ||
| R1 | 16.33 | 1.22 % | ||
| Current price: | 16.13 | |||
| Support | S1 | 16.07 | -0.392 % | |
| S2 | 15.99 | -0.89 % | ||
| S3 | 15.86 | -1.69 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 17.32 | 7.38 % | |
| R2 | 17.17 | 6.45 % | ||
| R1 | 16.48 | 2.17 % | ||
| Current price | 16.13 | |||
| Support | S1 | 15.64 | -3.04% | |
| S2 | 15.56 | -3.53% | ||
| S3 | 15.26 | -5.39% |
PK Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 27, 2024 | Mar 27, 2024 | Apr 15, 2024 | $0.250 | 1.49% |
| 2 | Oct 27, 2023 | Dec 28, 2023 | Jan 16, 2024 | $0.770 | 4.83% |
| 3 | Sep 08, 2023 | Sep 28, 2023 | Oct 16, 2023 | $0.150 | 1.24% |
| 4 | Jun 08, 2023 | Jun 29, 2023 | Jul 17, 2023 | $0.150 | 1.15% |
| 5 | Mar 15, 2023 | Mar 30, 2023 | Apr 17, 2023 | $0.150 | 1.25% |
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