Profrac Holding Corp. Stock Forecast
Profrac Holding Corp. stock price up 1.09% on Friday
(Updated on Jun 28, 2024)
The Profrac Holding Corp. stock price gained 1.09% on the last trading day (Friday, 28th Jun 2024), rising from $7.33 to $7.41. During the last trading day the stock fluctuated 4.40% from a day low at $7.28 to a day high of $7.60. The price has fallen in 6 of the last 10 days and is down by -9.96% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 352 thousand more shares were traded than the day before. In total, 911 thousand shares were bought and sold for approximately $6.75 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -2.31% during the next 3 months and, with a 90% probability hold a price between $6.53 and $9.33 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
ACDC Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, June 21, 2024, and so far it has risen 3.35%. 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 Profrac Holding Corp. 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 $8.49. On a fall, the stock will find some support from the short-term average at $7.35. 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 Profrac Holding Corp. stock
Profrac Holding Corp. finds support from accumulated volume at $7.27 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.320 between high and low, or 4.40%. For the last week, the stock has had daily average volatility of 3.38%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ACDC) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Profrac Holding Corp. to open at $7.43, and during the day (based on 14 day Average True Range), to move between $7.04 and $7.78, which gives a possible trading interval of +/-$0.371 (+/-5.00%) up or down from last closing price. If Profrac Holding Corp. takes out the full calculated possible swing range there will be an estimated 10.00% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $7.27 (1.89%) than the resistance at $8.25 (11.34%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Profrac Holding Corp. stock A Buy?
Profrac Holding Corp. 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: -2.737 Sell Candidate Unchanged
Predicted Opening Price for Profrac Holding Corp. of Monday, July 1, 2024
Fair opening price July 1, 2024 | Current price |
---|---|
$7.43 ( 0.270%) | $7.41 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ACDC
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 7.75 | 4.59% |
R2 | 7.63 | 2.94% |
R1 | 7.55 | 1.92% |
Price | 7.41 | |
S1 | 7.31 | -1.38% |
S2 | 7.23 | -2.40% |
S3 | 7.11 | -4.05% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 9.01 | 21.59% |
R2 | 8.75 | 18.08% |
R1 | 8.25 | 11.34% |
Price | 7.41 | |
S1 | 7.27 | -1.89% |
S2 | 7.09 | -4.32% |
S3 | 6.83 | -7.83% |
FAQ
Click here for our free guide on how to buy Profrac Holding Corp. Stock.