Payfare Inc Stock Forecast
Payfare Inc stock price down 0.639% on Friday
(Updated on Jun 14, 2024)
The Payfare Inc stock price fell by -0.639% on the last day (Friday, 14th Jun 2024) from $6.26 to $6.22. During the last trading day the stock fluctuated 2.11% from a day low at $6.15 to a day high of $6.28. The price has fallen in 6 of the last 10 days and is down by -6.18% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -77 thousand shares and in total, 102 thousand shares were bought and sold for approximately $634.14 thousand.
The stock lies in the middle of a 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 -3.12% during the next 3 months and, with a 90% probability hold a price between $5.39 and $6.65 at the end of this 3-month period.
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PAY.TO Signals & Forecast
There are few to no technical positive signals at the moment. The Payfare Inc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $6.29 and $6.54. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, May 09, 2024, and so far it has fallen -10.50%. 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). Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Payfare Inc stock
Payfare Inc finds support from accumulated volume at $6.19 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.130 between high and low, or 2.11%. For the last week the stock has had daily average volatility of 3.00%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PAY.TO) For The Upcoming Trading Day Of Monday 17th
For the upcoming trading day on Monday, 17th we expect Payfare Inc to open at $6.22, and during the day (based on 14 day Average True Range), to move between $6.01 and $6.43, which gives a possible trading interval of +/-$0.209 (+/-3.36%) up or down from last closing price. If Payfare Inc takes out the full calculated possible swing range there will be an estimated 6.71% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $6.23 (0.16%) than the support at $6.19 (0.48%), 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 Payfare Inc stock A Buy?
Payfare Inc holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -2.184 Sell Candidate Unchanged
Predicted Opening Price for Payfare Inc of Monday, June 17, 2024
| Fair opening price June 17, 2024 | Current price |
|---|---|
| $6.22 ( 0.0536%) | $6.22 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PAY.TO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 6.35 | 2.04% |
| R2 | 6.30 | 1.24% |
| R1 | 6.27 | 0.745% |
| Price | 6.22 | |
| S1 | 6.17 | -0.85% |
| S2 | 6.14 | -1.35% |
| S3 | 6.09 | -2.14% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 6.95 | 11.74% |
| R2 | 6.25 | 0.482% |
| R1 | 6.23 | 0.161% |
| Price | 6.22 | |
| S1 | 6.19 | -0.482% |
| S2 | 6.14 | -1.29% |
| S3 | 5.75 | -7.56% |
FAQ
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