PRA Group Stock Forecast
Green day on Friday for PRA Group
(Updated on Apr 19, 2024)
The PRA Group stock price gained 3.81% on the last trading day (Friday, 19th Apr 2024), rising from $23.48 to $24.37. During the last trading day the stock fluctuated 5.26% from a day low at $23.19 to a day high of $24.41. The price has been going up and down for this period, and there has been a -3.64% 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, 13 thousand more shares were traded than the day before. In total, 153 thousand shares were bought and sold for approximately $3.73 million.
The stock lies in the middle of a very wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 2.32% during the next 3 months and, with a 90% probability hold a price between $22.86 and $29.11 at the end of this 3-month period.
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PRAA Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 9.23%. Further rise is indicated until a new top pivot has been found. 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. The PRA Group 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 $24.74. On a fall, the stock will find some support from the short-term average at $23.86. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for PRA Group stock
On the downside, the stock finds support just below today's level from accumulated volume at $23.03 and $22.97. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, PRA Group finds support just below today's level at $23.03. If this is broken, then the next support from accumulated volume will be at $22.97 and $22.84.
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 $1.22 between high and low, or 5.26%. For the last week, the stock has had daily average volatility of 5.56%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PRAA) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect PRA Group to open at $23.99, and during the day (based on 14 day Average True Range), to move between $23.29 and $25.45, which gives a possible trading interval of +/-$1.08 (+/-4.42%) up or down from last closing price. If PRA Group takes out the full calculated possible swing range there will be an estimated 8.85% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $25.56 (4.88%) than the support at $23.03 (5.50%), 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 PRA Group stock A Buy?
PRA Group 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: -1.230 Sell Candidate Unchanged
Predicted Opening Price for PRA Group of Monday, April 22, 2024
Fair opening price April 22, 2024 | Current price |
---|---|
$23.99 ( 1.56%) | $24.37 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PRAA
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 25.21 | 3.45 % | |
R2 | 24.74 | 1.53 % | ||
R1 | 24.46 | 0.353 % | ||
Current price: | 24.37 | |||
Support | S1 | 23.52 | -3.47 % | |
S2 | 23.24 | -4.65 % | ||
S3 | 22.77 | -6.57 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 28.00 | 14.90 % | |
R2 | 26.10 | 7.10 % | ||
R1 | 25.56 | 4.88 % | ||
Current price | 24.37 | |||
Support | S1 | 23.03 | -5.50% | |
S2 | 22.97 | -5.74% | ||
S3 | 22.84 | -6.28% |
PRAA Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 23, 2007 | May 07, 2007 | Jun 08, 2007 | $0.333 | 1.72% |
FAQ
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