Pilgrim Stock Forecast
Pilgrim stock price up 1.58% on Thursday
(Updated on May 02, 2024)
The Pilgrim stock price gained 1.58% on the last trading day (Thursday, 2nd May 2024), rising from $35.39 to $35.95. During the last trading day the stock fluctuated 8.23% from a day low at $33.67 to a day high of $36.44. The price has been going up and down for this period, and there has been a 1.13% gain 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, 562 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $50.83 million.
The stock lies in the lower part of a strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $35.54 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 32.07% during the next 3 months and, with a 90% probability hold a price between $46.94 and $50.81 at the end of this 3-month period.
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PPC Signals & Forecast
The Pilgrim stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $35.88 and $35.01. A breakdown below any of these levels will issue sell signals. 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 Monday, April 29, 2024, and so far it has fallen -0.526%. 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 Pilgrim stock
On the downside, the stock finds support just below today's level from accumulated volume at $33.38 and $32.21. 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, Pilgrim finds support just below today's level at $33.38. If this is broken, then the next support from accumulated volume will be at $32.21 and $31.19.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $2.77 between high and low, or 8.23%. For the last week the stock has had daily average volatility of 2.85%.
Our recommended stop-loss: $34.52 (-3.98%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 3 days ago.)
Trading Expectations (PPC) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Pilgrim to open at $35.35, and during the day (based on 14 day Average True Range), to move between $35.20 and $36.70, which gives a possible trading interval of +/-$0.752 (+/-2.09%) up or down from last closing price. If Pilgrim takes out the full calculated possible swing range there will be an estimated 4.19% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $35.99 (0.11%) than the support at $33.38 (7.15%), 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 Pilgrim stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Pilgrim stock to perform well in the short-term.
Current score: 4.493 Buy Candidate Unchanged
Predicted Opening Price for Pilgrim of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $35.35 ( 1.66%) | $35.95 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PPC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 38.12 | 6.05 % | |
| R2 | 37.07 | 3.10 % | ||
| R1 | 36.41 | 1.28 % | ||
| Current price: | 35.95 | |||
| Support | S1 | 34.30 | -4.60 % | |
| S2 | 33.64 | -6.42 % | ||
| S3 | 32.58 | -9.36 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 36.02 | 0.195 % | |
| R2 | 36.00 | 0.139 % | ||
| R1 | 35.99 | 0.111 % | ||
| Current price | 35.95 | |||
| Support | S1 | 33.38 | -7.15% | |
| S2 | 32.21 | -10.40% | ||
| S3 | 31.19 | -13.24% |
PPC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 27, 2016 | May 06, 2016 | May 18, 2016 | $2.75 | 11.03% |
| 2 | Jan 14, 2015 | Jan 28, 2015 | Feb 17, 2015 | $5.77 | 21.04% |
| 3 | Sep 10, 2008 | Sep 10, 2008 | Sep 26, 2008 | $0.0230 | 0.648% |
| 4 | Jun 11, 2008 | Jun 11, 2008 | Jun 27, 2008 | $0.0230 | 0.169% |
| 5 | Mar 12, 2008 | Mar 12, 2008 | Mar 28, 2008 | $0.0230 | 0.112% |
FAQ
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