Performance of First Republic Bank Stock, July 4th
Last 5 days: +168.9%
Last 30 days: +155.4%
Last 6 months: -99.4%
Last 12 Months: -99.5%
FRC Stock Technical Analysis, July 4th
After registering a surge of consecutive 4 days, the FRCB stock closed lower on Thursday. On Friday, the First Republic Bank stock crashed over 20%. The overall market sentiment for the First Republic Bank stock has turned highly bearish. However, on Monday FRCB closed around 6% higher.
Performance on the Last Trading Day
Open: $0.550
Close: $0.5802
Gain/Loss: +5.49%
Market Cap: $108.04 million
The First Republic Bank’s stock price has experienced a significant surge, resulting in the overall market capitalization of the bank surpassing $100 million. The buyers have been successful in defending the $0.50 support and now the price is once again on the uptrend.
From a technical standpoint, the stock of First Republic Bank (FRCB) has turned bullish, with the net stock price above the 50-day Moving Average. The buyers have been able to reverse the overall momentum of the asset from bearish to bullish.
After the recent surge in the stock price of First Republic Bank, the sellers managed to short the asset, making it unlikely for the stock to reach $1. Instead, the stock pote was under the pressure of potentially dropping below $0.50. But with the trend reversal, FRC is once again on the uptrend.
When examining the 4-hour timeframe chart, it is observed that the current stock price of First Republic Bank (FRC) is trading slightly above the 50-day Moving Average. The price is on the uptrend, the stock is expected to surge further, indicating a bullish trend. However, the FRCB stock price has consistently remained below the 200-day moving average, suggesting a less optimistic overall outlook for FRC.
The immediate support level for FRC stock is approximately $0.50, while the first level of resistance on the upside is around $0.75. However, the stock price has been rejected below this level, further reinforcing the bearish sentiment.
Technically, FRCB is bullish, and this bullish outlook is confirmed by the Relative Strength Index (RSI) of the asset. The RSI line on the 4-hour chart is trending upwards once again after falling from the overbought territory. At the time of writing, the RSI is 57.83, indicating that sellers have once again been outnumbered by buyers.
The MACD chart shows that both the MACD line and the signal line are in the bullish zone. Furthermore, the trading volume bars for FRCB have been increasing, providing additional support for a buy signal.
However, the Williams Percent Range (W%R) of FRCB stock has dropped from the overbought territory. At the time of writing, the W%R for FRCB stock is -56.34, indicating a downtrend and confirming increased selling pressure for FRCB stock.
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