Precipio, Inc. Stock Forecast
Green day on Wednesday for Precipio, Inc.
(Updated on Mar 27, 2024)
The Precipio, Inc. stock price gained 1.97% on the last trading day (Wednesday, 27th Mar 2024), rising from $6.08 to $6.20. During the last trading day the stock fluctuated 3.74% from a day low at $6.01 to a day high of $6.24. The price has risen in 4 of the last 10 days and is up by 0.06% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 3 thousand more shares were traded than the day before. In total, 3 thousand shares were bought and sold for approximately $20.65 thousand.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Precipio, Inc. stock with a 90% probability to be traded between $5.25 and $6.88 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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PRPO Signals & Forecast
There are mixed signals in the stock today. The Precipio, Inc. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $6.33. On a fall, the stock will find some support from the short-term average at $6.09. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Wednesday, February 07, 2024, and so far it has fallen -10.19%. 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). Precipio, Inc. has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Precipio, Inc. stock
Precipio, Inc. finds support from accumulated volume at $6.08 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.225 between high and low, or 3.74%. For the last week, the stock has had daily average volatility of 3.07%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PRPO) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Precipio, Inc. to open at $6.15, and during the day (based on 14 day Average True Range), to move between $5.92 and $6.49, which gives a possible trading interval of +/-$0.282 (+/-4.54%) up or down from last closing price. If Precipio, Inc. takes out the full calculated possible swing range there will be an estimated 9.09% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $6.08 (2.00%) than the resistance at $6.48 (4.45%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Precipio, Inc. stock A Buy?
Precipio, Inc. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -1.838 Sell Candidate Unchanged
Predicted Opening Price for Precipio, Inc. of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$6.15 ( 0.87%) | $6.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PRPO
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 6.37 | 2.75 % | |
R2 | 6.29 | 1.37 % | ||
R1 | 6.24 | 0.512 % | ||
Current price: | 6.20 | |||
Support | S1 | 6.06 | -2.26 % | |
S2 | 6.01 | -3.12 % | ||
S3 | 5.92 | -4.50 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 6.70 | 8.00 % | |
R2 | 6.50 | 4.77 % | ||
R1 | 6.48 | 4.45 % | ||
Current price | 6.20 | |||
Support | S1 | 6.08 | -2.00% | |
S2 | 5.96 | -3.93% | ||
S3 | 5.50 | -11.31% |
FAQ
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