Park National Corp Stock Forecast

Park National Corp stock downgraded from Buy Candidate to Hold/Accumulate after Wednesday trading session.
(Updated on Apr 24, 2024)

PRK Signals & Forecast

The Park National Corp 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 $129.86 and $130.12. 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 10.61%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. 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 Park National Corp stock

Park National Corp finds support from accumulated volume at $130.68 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $3.41 between high and low, or 2.55%. For the last week, the stock has had daily average volatility of 3.03%.

Since the Park National Corp has been rising for 6 days in a row, the risk over the next couple of days has increased. As we cannot be certain with regards to the size of the reaction, we urge caution.

Our recommended stop-loss: $133.06 (-3.22%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 6 days ago.)

Trading Expectations (PRK) For The Upcoming Trading Day Of Thursday 25th

For the upcoming trading day on Thursday, 25th we expect Park National Corp to open at $136.38, and during the day (based on 14 day Average True Range), to move between $134.19 and $140.79, which gives a possible trading interval of +/-$3.30 (+/-2.40%) up or down from last closing price. If Park National Corp takes out the full calculated possible swing range there will be an estimated 4.80% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $130.68, some $6.81 (4.95%) from the current price of $137.49, our system finds the risk reward attractive.

Is Park National Corp stock A Buy?

Park National Corp 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. 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: 0.000 Hold/Accumulate Downgraded

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Park National Corp of Thursday, April 25, 2024

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