Park National Corp Forecast and Stock Analysis
Technical PRK stock analysis for February 14, 2019.
|Shorts||13.08% ( 2019-01-31 )|
Park National Corp fell by -1.90% in the last day from $100.31 to $98.40 The price has risen in 7 of the last 10 days and is up by 4.66% over the past 2 weeks. Volume has increased in the last day by 14 617 shares, but on falling prices. This may be an early warning and the risk will be increased slightly for the next couple of days. In total, 41 469 shares bought and sold for approximately $4.08 million.
Close price at the end of the last trading day (Thursday, 14th Feb 2019) of the PRK stock was $98.40. This is 1.9% less than the trading day before Wednesday, 13th Feb 2019.
During day the stock fluctuated 1.90% from a day low at $97.61 to a day high of $99.46.
30 day high of the PRK stock price was $100.99 and low was $90.17.
90 day high was $100.99 and low was $79.27.
52 week high for the Park National Corp - $119.00 and low - $79.27.
Park National Corp lies in the upper part of a wide and weak rising trend in the short term, and this will normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $101.52 will firstly indicate a stronger raising rate. Given the current short-term trend, the stock is expected to rise 7.48% during the next 3 months and, with 90% probability hold a price between $89.63 and $109.11 at the end of this period.
There are mixed signals in the stock today. A sales signal was issued from a pivot top point on Wednesday February 13, 2019, which indicates further falls until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. Park National Corp holds a sales signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock. On further gains, the stock will meet resistance from the short-term moving average at approximately $98.83. On a fall, the stock will find some support from the long-term average at approximately $92.37. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sales signal.
Relative Strength Index (RSI)
The stock holds a RSI14 at 71 and is currently being overbought on RSI. This does not have to be a sales signal as many stocks may go both long and hard while being overbought on the RSI. It is therefore important to evaluate the history of the share as it may tell you something about the RSI-sensitiveness.
Support & Resistance
Park National Corp finds support from accumulated volume at $95.04.
This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved $1.85 (1.90%) between high and low. For the last week, the stock has had a daily average volatility of 1.76%.
The stock is overbought on RSI14 and lies in the upper part of the trend. Normally this will pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
Very Low Low Medium High Very High
Evaluation: Sell Candidate
Park National Corp 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. Due to some small weaknesses in the technical picture we have downgraded our recommendation for this stock since last evaluation from a Buy Candidate to a Sell Candidate.