Plexus Corp. Stock Forecast
Plexus Corp. stock price ended at $93.24 on Friday, after gaining 0.0644%.
(Updated on Apr 19, 2024)
The Plexus Corp. stock price gained 0.0644% on the last trading day (Friday, 19th Apr 2024), rising from $93.18 to $93.24. During the last trading day the stock fluctuated 1.53% from a day low at $92.72 to a day high of $94.14. The price has been going up and down for this period, and there has been a -2.86% loss for the last 2 weeks. Volume fell on the last day by -11 thousand shares and in total, 88 thousand shares were bought and sold for approximately $8.22 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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 $88.09 and $96.42 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
Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Plexus Corp. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $94.65 and $94.14. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 09, 2024, and so far it has fallen -4.98%. 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 $92.84 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 $1.42 (1.53%) between high and low. For the last week, the stock has had daily average volatility of 2.07%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PLXS) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Plexus Corp. to open at $93.37, and during the day (based on 14 day Average True Range), to move between $91.27 and $95.21, which gives a possible trading interval of +/-$1.97 (+/-2.12%) up or down from last closing price. If Plexus Corp. takes out the full calculated possible swing range there will be an estimated 4.23% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $92.84 (0.43%) than the resistance at $94.40 (1.24%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
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?
Plexus Corp. holds several negative signals and is within a falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -1.577 Sell Candidate Unchanged
Predicted Opening Price for Plexus Corp. of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $93.37 ( 0.136%) | $93.24 |
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 | 94.79 | 1.66 % | |
| R2 | 94.24 | 1.08 % | ||
| R1 | 93.91 | 0.718 % | ||
| Current price: | 93.24 | |||
| Support | S1 | 92.82 | -0.446 % | |
| S2 | 92.49 | -0.81 % | ||
| S3 | 91.95 | -1.39 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 96.38 | 3.37 % | |
| R2 | 94.72 | 1.59 % | ||
| R1 | 94.40 | 1.24 % | ||
| Current price | 93.24 | |||
| Support | S1 | 92.84 | -0.429% | |
| S2 | 91.76 | -1.59% | ||
| S3 | 90.62 | -2.81% |
FAQ
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