Plexus Corp. Stock Forecast
Plexus Corp. stock upgraded from Sell Candidate to Buy Candidate after Monday trading session.
(Updated on Apr 22, 2024)
^ falseThe Plexus Corp. stock price gained 1.02% on the last trading day (Monday, 22nd Apr 2024), rising from $93.24 to $94.19. During the last trading day the stock fluctuated 1.23% from a day low at $93.58 to a day high of $94.73. The price has been going up and down for this period, and there has been a -2.17% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 9 thousand more shares were traded than the day before. In total, 97 thousand shares were bought and sold for approximately $9.17 million.
The stock is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Plexus Corp. stock with a 90% probability to be traded between $88.56 and $97.07 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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PLXS Signals & Forecast
The Plexus Corp. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $94.22. On a fall, the stock will find some support from the long-term average at approximately $94.12. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, April 09, 2024, and so far it has fallen -4.02%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Plexus Corp. stock
Plexus Corp. finds support from accumulated volume at $93.27 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $1.15 (1.23%) between high and low. For the last week, the stock has had daily average volatility of 1.95%.
Our recommended stop-loss: $89.48 (-5.00%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 9 days ago.)
Trading Expectations (PLXS) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect Plexus Corp. to open at $94.17, and during the day (based on 14 day Average True Range), to move between $92.25 and $96.13, which gives a possible trading interval of +/-$1.94 (+/-2.06%) up or down from last closing price. If Plexus Corp. takes out the full calculated possible swing range there will be an estimated 4.12% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $94.40 (0.22%) than the support at $93.27 (0.98%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Earnings coming up
Plexus Corp. will release earnings AMC on Wednesday, April 24, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.770. We will update the financials statements for Plexus Corp., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.11% in the first trading day after earnings release.
Is Plexus Corp. stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Plexus Corp. stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 1.382 Buy Candidate Upgraded
Predicted Opening Price for Plexus Corp. of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| $94.17 ( 0.0257%) | $94.19 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PLXS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 95.31 | 1.19 % | |
| R2 | 94.87 | 0.727 % | ||
| R1 | 94.60 | 0.440 % | ||
| Current price: | 94.19 | |||
| Support | S1 | 93.73 | -0.491 % | |
| S2 | 93.46 | -0.779 % | ||
| S3 | 93.02 | -1.24 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 96.38 | 2.33 % | |
| R2 | 94.72 | 0.563 % | ||
| R1 | 94.40 | 0.223 % | ||
| Current price | 94.19 | |||
| Support | S1 | 93.27 | -0.98% | |
| S2 | 92.84 | -1.43% | ||
| S3 | 91.76 | -2.58% |
FAQ
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