Pegasystems Inc. Stock Forecast
Green day on Tuesday for Pegasystems Inc.
(Updated on May 07, 2024)
The Pegasystems Inc. stock price gained 0.442% on the last trading day (Tuesday, 7th May 2024), rising from $61.05 to $61.32. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.81% from a day low at $60.55 to a day high of $62.25. The price has risen in 6 of the last 10 days and is up by 3.41% over the past 2 weeks. Volume fell on the last day by -139 thousand shares and in total, 362 thousand shares were bought and sold for approximately $22.22 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 very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Pegasystems Inc. stock with a 90% probability to be traded between $48.00 and $68.37 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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PEGA Signals & Forecast
There are mixed signals in the stock today. The Pegasystems 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 $61.46. On a fall, the stock will find some support from the short-term average at $60.24. 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 Thursday, February 15, 2024, and so far it has fallen -10.87%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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.
Support, Risk & Stop-loss for Pegasystems Inc. stock
Pegasystems Inc. finds support from accumulated volume at $59.08 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 $1.70 between high and low, or 2.81%. For the last week, the stock has had daily average volatility of 3.34%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PEGA) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Pegasystems Inc. to open at $61.37, and during the day (based on 14 day Average True Range), to move between $59.27 and $63.37, which gives a possible trading interval of +/-$2.05 (+/-3.35%) up or down from last closing price. If Pegasystems Inc. takes out the full calculated possible swing range there will be an estimated 6.69% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $62.10 (1.27%) than the support at $59.08 (3.65%), 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.
Is Pegasystems Inc. stock A Buy?
Pegasystems 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: -2.366 Sell Candidate Unchanged
Predicted Opening Price for Pegasystems Inc. of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| $61.37 ( 0.0870%) | $61.32 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PEGA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 63.07 | 2.86 % | |
| R2 | 62.42 | 1.80 % | ||
| R1 | 62.02 | 1.15 % | ||
| Current price: | 61.32 | |||
| Support | S1 | 60.72 | -0.97 % | |
| S2 | 60.32 | -1.63 % | ||
| S3 | 59.67 | -2.69 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 68.80 | 12.20 % | |
| R2 | 64.88 | 5.81 % | ||
| R1 | 62.10 | 1.27 % | ||
| Current price | 61.32 | |||
| Support | S1 | 59.08 | -3.65% | |
| S2 | 58.90 | -3.95% | ||
| S3 | 50.71 | -17.30% |
PEGA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 28, 2024 | Mar 28, 2024 | Apr 15, 2024 | $0.0300 | 0.0513% |
| 2 | Dec 15, 2023 | Dec 29, 2023 | Jan 16, 2024 | $0.0300 | 0.0647% |
| 3 | Sep 15, 2023 | Sep 29, 2023 | Oct 16, 2023 | $0.0300 | 0.0721% |
| 4 | Jun 16, 2023 | Jun 30, 2023 | Jul 17, 2023 | $0.0300 | 0.0534% |
| 5 | Mar 17, 2023 | Mar 31, 2023 | Apr 17, 2023 | $0.0300 | 0.0657% |
FAQ
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