Provident Financial Services (PFS) is not likely to experience significant growth from the start of pre-market trading. Here's the analysis to support this conclusion:
- Recent Performance and Analyst Actions: The stock has been experiencing some volatility with a recent range of $13.07 to $19.62. Analysts from Royal Bank of Canada and Keefe, Bruyette & Woods have lowered their price targets, which could indicate a lack of strong bullish sentiment1.
- Technical Indicators: The Relative Strength Index (RSI) is at 75.2, which is considered overbought and suggests that the stock may be due for a pullback2. The Moving Average Convergence Divergence (MACD) is at 0.55, which does not indicate strong upward momentum.
- Support and Resistance Levels: The current support level is at $17.99, and the resistance level is at $18.5. The proximity of the resistance level to the current price may limit the stock's upward movement3.
- Dividend Yield: The dividend yield is attractive at 5.25%, but it may not be enough to drive a significant stock price increase on its own4.
While there are some positive indicators, such as a recent dividend yield and positive net fund flow, the technical indicators and analyst actions suggest that the stock may not have significant upward momentum from the start of pre-market trading.