High volatility in Pineapple Energy Inc. stock price on Thursday which ended trading at $4.55

The Pineapple Energy Inc. stock price gained 64.86% on the last trading day (Thursday, 6th Oct 2022), rising from $2.76 to $4.55. It has now gained 4 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 44.82% from a day low at $3.39 to a day high of $4.91. The price has fallen in 7 of the last 10 days but is still up by 157.06% over the past 2 weeks. Volume fell on the last day by -53 million shares and in total, 80 million shares were bought and sold for approximately $364.52 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.

Given the current short-term trend, the stock is expected to fall -18.23% during the next 3 months and, with a 90% probability hold a price between $0.61 and $3.72 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.

The Pineapple Energy Inc. stock holds buy signals from both short and long-term moving averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $1.77 and $2.24. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, October 03, 2022, and so far it has risen 471.75%. Further rise is indicated until a new top 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.

On the downside, the stock finds support just below today's level from accumulated volume at $3.76 and $3.68.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, Pineapple Energy Inc. finds support just below today's level at $3.76. If this is broken, then the next support from accumulated volume will be at $3.68 and $3.63.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $1.52 between high and low, or 44.82%. For the last week, the stock has had daily average volatility of 43.70%.

The Pineapple Energy Inc. stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought and the RSI is still moving upwards. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely, and it is of great importance that the stock manages to break the trend before that occurs.

Pineapple Energy Inc. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.