Peapack-Gladstone Financial Corporation (NASDAQ:PGC) Is a Buy
Hedge Funds Taking An Interest in Peapack-Gladstone Financial Corporation
Peapack-Gladstone Financial Corporation
Peapack-Gladstone Financial Corporation is a bank holding company. The Company’s principal subsidiary is Peapack-Gladstone Bank (the Bank), which is a state chartered commercial bank.
The Company operates through two segments: Banking and Private Wealth Management Division. The Banking segment includes commercial, commercial real estate, multifamily, residential and consumer lending activities; deposit generation; operation of automated teller machines (ATMs); telephone and Internet banking services; merchant credit card services, and customer support sales.
The Private Wealth Management Division includes asset management services provided for individuals and institutions; personal trust services, including services as executor, trustee, administrator, custodian and guardian; corporate trust services, including services as trustee for pension and profit sharing plans, and other financial planning and advisory services.
Shayne Heffernan Trade Idea
“We predict the future price of Peapack-Gladstone Financial Corporation will come in around $22.40 which will give the stock a price increase of +20.62%.”
Overall, the bias in prices is: Downwards.
By the way, prices are vulnerable to a correction towards 20.06.
The projected upper bound is: 21.73.
The projected lower bound is: 15.51.
The projected closing price is: 18.62.
A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 3 white candles and 7 black candles for a net of 4 black candles. During the past 50 bars, there have been 25 white candles and 25 black candles.
A long lower shadow occurred. This is typically a bullish signal (particularly when it occurs near a low price level, at a support level, or when the security is oversold).
Three black candles occurred in the last three days. Although these candles were not big enough to create three black crows, the steady downward pattern is bearish.
Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 17.0279. This is an oversold reading. However, a signal is not generated until the Oscillator crosses above 20 The last signal was a sell 2 period(s) ago.
Relative Strength Index (RSI)
The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 49.43. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a buy 54 period(s) ago.
Commodity Channel Index (CCI)
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is -83. This is not a topping or bottoming area. The last signal was a buy 0 period(s) ago.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 0 period(s) ago.
Rex Takasugi – TD Profile
PEAPCK-GLDSTN FN closed up 0.630 at 18.570. Volume was 10% below average (neutral) and Bollinger Bands were 23% narrower than normal.
Open High Low Close Volume 18.920 19.000 17.700 18.570 80,342
Technical Outlook Short Term: Oversold Intermediate Term: Bullish Long Term: Bearish
Moving Averages: 10-period 50-period 200-period Close: 19.66 17.64 25.40 Volatility: 92 112 89 Volume: 80,167 82,251 75,277
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.
PEAPCK-GLDSTN FN is currently 26.9% below its 200-period moving average and is in an upward trend. Volatility is relatively normal as compared to the average volatility over the last 10 periods.
Our volume indicators reflect moderate flows of volume into PGC.O (mildly bullish). Our trend forecasting oscillators are currently bullish on PGC.O and have had this outlook for the last 12 periods.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of the NASDAQ Stock Market.
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