PACW Stock Price Forecast: Will PacWest Bancorp Break Below $7?

PACW stock price is in a bearish momentum making lower low structures for a prolonged time. Moreover, PACW bulls looked aggressive in the past session and tried to break the 20 Ema resistance level. Recently it got a rejection from the upper trendline at a level of $10. 

PACW’s stock price gave a negative return to its investors over the year. Since the beginning of the year, PACW has given an adverse return of -66.50% and it gave a negative return of -71.91% in a span of 6 months. Additionally last month it started to take a break and gave -16.84% returns and this week it gave a negative return of -1.46. We can say that sellers are dominating buyers.

Likewise, the intraday trading volume was 538.96K and the market cap of PacWest Bancorp stock was 927.004 Million. The company has a dividend yield of 0.52%. The company has a price-to-earnings ratio of 0% with a basic EPS of -10.61. Currently, 116.127 Million floating stocks are in the market.

When we take a glance at the recent Q2 23 Earnings of the company, PacWest Bancorp reported a revenue of 409.83 Million with a net income of -197.33 Million and a profit margin is -48.15%. However, losses were reduced and the profit margin was increased when we compared it to Q2.23. Furthermore, 9 analysts gave their rating for 3 months in which the maximum weightage is on the buy side with the maximum price of $16.

What Technical Chart Illustrates About The PACW Stock Price?

Source: Tradingview

At the time of writing, the PACW stock price is trading below the 50, 100, and 200 moving averages indicating sellers’ influence on the stock price. EMAs show the trend is in the control of bears and they are not in the mood to slip this control over the bulls easily. Presently, the PACW stock price is consolidating in a narrow channel by making lower low structures but the trend currently taking a pause, and bulls trying to rebound from this level. 

The MACD indicator is heading toward a bullish trajectory where the MACD line is at -0.3031 below the signal line (-0.2193). Nevertheless, the MACD is in downward and the red histogram indicates bearishness in the trend. The RSI is floating in a neutral trajectory indicating neutrality. Moreover, the RSI line (43.11) is below the median line and the 14 SMA line (42.42) shows a neutrality in the trend.

Conclusion

PacWest Bancorp (PACW: NASDAQ) stock price is showing the power of bulls in previous sessions. Nevertheless, the price took a pause in a few previous trading sessions and showed the presence of bulls. Most widely used indicators like MACD, RSI, and EMAs show mild neutrality in the trend. 

Technical Support and Resistance level

Support levels:  S1 = $6.94 and S2 = $4.34.  

Resistance levels: R1 = $9.13 and R2 = $10.93.

Disclaimer

The research delivered in this article is for informative and educational purposes only. Do not depend on this information as financial, investment, or trading recommendations. Investing and trading involve risk. Please consider your circumstances and risk forbearance before making any investment conclusions.