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- 1 FRC stock price is experiencing strong bearish momentum.
- 2 First Republic Bank (NYSE: FRC) is down by -43.30% in the last trading session.
FRC stock price tumbled more than -43.30% in the last trading session showcasing extreme bearishness. In March 2023, the company’s share price was trading above the price of $110. From there, the share crashed by more than 90% and it is currently trading at $3.41. The main reason behind this crash is that FRC went bankrupt in March and had poor quarterly results.
However, the last quarter’s result exceeded the analysts’ estimation but could not save the stock from declining. In Q1 23, the company generated a revenue of 2.18 Billion with a net income of 269.00 Million and the profit margin of the company was 12.32%. However, the net income and profit margin were lower as compared to the previous quarter.
At press time, FRC stock was trading at $3.41 with an intraday loss of -43.30% breaking below the 20, 50, 100, and 200-day EMA, showing bearishness on the charts. Moreover, the intraday trading volume is 176.848 Million more than the average 10-day volume of 85.742 Million. The market cap is 22.346 Million with a shares float of 184.982 Million.
Is Comeback Possible for FRC Stock?
First Republic Bank stock is currently trading below the 20, 50, 100, and 200-day EMAs, which are providing support to the price trend. However, if selling pressure increases, the price could break below the $1 level.
The RSI indicator is currently at 19.60, which is in the oversold zone. However, the 14-day SMA is trading at 21.11, which is a strong bearish signal. The MACD indicator is also bearish, with the MACD line trading in negative territory. This indicates that the FRC stock is likely to continue to fall in the near future.
First Republic Bank stock’s technical oscillators also support the bearish trend. The MACD, RSI, and EMA are emphasizing negative signs and imply that the downtrend may continue in the FRC stock price. FRC price action suggests that the investors and traders are bearish on the 1-D time frame. The price action reflects a bearish perspective at the moment.
Conclusion
First Republic Bank’s (NYSE: FRC) stock price ate the major gains of investors. The stock price plunged more than 90% after the company went bankrupt and even quarterly results could not save the stock from free fall. Major indicators like MACD, RSI, and EMAs do not support the stock and give a bearish outlook in the 1-D time frame. The price action reflects a bullish perspective at the moment.
Moreover, FRC investors avoid the fear of missing out. Scarcity is created in the stock market to gain more investors and creditors. It is better to keep it at arm’s length as this may result in market volatility.
Technical Levels
- Support Levels: The closest support level for the FRC stock price is $3.00.
- Resistance levels: The closest resistance level for the First Republic Bank stock price is $4.00.
Disclaimer
The analysis provided in this article is for informational and educational purposes only. Do not rely on this information as financial, investment, or trading advice. Investing and trading in stock involves risk. Please assess your situation and risk tolerance before making any investment decisions.
Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.
