1
FRC stock price shows strong selling pressure and is heading toward a demand zone of $3.
2
Sellers have regained control of the game and the price declined forming a bearish price action.
FRC stock price (FRC) shows strong bearishness and resumption of the free fall after the buyers tried to hold the key level of $10. The price has dropped from $16 to close at $3.51 in the last 4 sessions, wiping out another 80% of its value in less than a week, after the disclosure of the quarterly results.
The First Republic Bank went bankrupt in March after which the stock price crashed nearly 90% in March 2023. The stock price dropped from $120 to $15 in a very short span. Thereafter, the stock tried to sustain itself in the range of $12 to $17.
However, the declaration of quarterly results triggered a gap-down opening followed by a decline of nearly 30% on the same day, and the price continued with momentum thereafter.
The Quarterly results outperformed the
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