Park National Corp Stock Forecast
Stronger technical forecast for Park National Corp stock price after Thursday trading.
(Updated on Mar 28, 2024)
The Park National Corp stock price gained 0.85% on the last trading day (Thursday, 28th Mar 2024), rising from $134.71 to $135.85. During the last trading day the stock fluctuated 1.83% from a day low at $134.05 to a day high of $136.51. The price has risen in 6 of the last 10 days and is up by 6.13% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 47 thousand more shares were traded than the day before. In total, 81 thousand shares were bought and sold for approximately $10.95 million.
The stockis at the upper part of a wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $138.22 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Park National Corp stock with a 90% probability to be traded between $126.94 and $139.66 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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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. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $132.38 and $130.07. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, March 19, 2024, and so far it has risen 7.00%. 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 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.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $2.46 between high and low, or 1.83%. For the last week the stock has had daily average volatility of 1.93%.
Our recommended stop-loss: $130.25 (-4.12%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 7 days ago.)
Trading Expectations (PRK) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Park National Corp to open at $135.47, and during the day (based on 14 day Average True Range), to move between $132.90 and $138.80, which gives a possible trading interval of +/-$2.95 (+/-2.17%) up or down from last closing price. If Park National Corp takes out the full calculated possible swing range there will be an estimated 4.35% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $135.99 (0.10%) than the support at $130.68 (3.81%), 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 National Corp stock A Buy?
Park National Corp holds several positive signals and is considered to be a good choice at current levels. We expect the Park National Corp stock to perform great in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.284 Strong Buy Candidate Upgraded
Predicted Opening Price for Park National Corp of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$135.47 ( 0.281%) | $135.85 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PRK
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 137.92 | 1.53 % | |
R2 | 136.99 | 0.84 % | ||
R1 | 136.41 | 0.409 % | ||
Current price: | 135.85 | |||
Support | S1 | 134.53 | -0.97 % | |
S2 | 133.95 | -1.40 % | ||
S3 | 133.01 | -2.09 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 137.26 | 1.04 % | ||
R1 | 135.99 | 0.103 % | ||
Current price | 135.85 | |||
Support | S1 | 130.68 | -3.81% | |
S2 | 128.86 | -5.15% | ||
S3 | 124.90 | -8.06% |
PRK Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 15, 2024 | Feb 15, 2024 | Mar 08, 2024 | $1.06 | 0.789% |
2 | Oct 23, 2023 | Nov 16, 2023 | Dec 08, 2023 | $1.05 | 0.84% |
3 | Jul 24, 2023 | Aug 17, 2023 | Sep 08, 2023 | $1.05 | 1.06% |
4 | Apr 21, 2023 | May 18, 2023 | Jun 09, 2023 | $1.05 | 0.96% |
5 | Jan 23, 2023 | Feb 16, 2023 | Jun 09, 2023 | $1.05 | 0.96% |
FAQ
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