Payoneer Global Inc. Stock Forecast
Payoneer Global Inc. stock downgraded from Buy Candidate to Sell Candidate after Friday trading session.
(Updated on Apr 26, 2024)
The Payoneer Global Inc. stock price gained 1.62% on the last trading day (Friday, 26th Apr 2024), rising from $4.93 to $5.01. During the last trading day the stock fluctuated 2.03% from a day low at $4.92 to a day high of $5.02. The price has risen in 6 of the last 10 days and is up by 3.73% over the past 2 weeks. Volume fell on the last day by -295 thousand shares and in total, 1 million shares were bought and sold for approximately $6.40 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.
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 -3.29% during the next 3 months and, with a 90% probability hold a price between $4.05 and $5.26 at the end of this 3-month period.
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PAYO Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Tuesday, April 23, 2024, and so far it has fallen -3.09%. 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). The Payoneer Global Inc. 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 $4.96 and $4.77. A breakdown below any of these levels will issue sell signals. 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.
Support, Risk & Stop-loss for Payoneer Global Inc. stock
Payoneer Global Inc. finds support from accumulated volume at $4.89 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.1000 between high and low, or 2.03%. For the last week the stock has had daily average volatility of 3.10%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PAYO) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Payoneer Global Inc. to open at $4.98, and during the day (based on 14 day Average True Range), to move between $4.85 and $5.17, which gives a possible trading interval of +/-$0.155 (+/-3.10%) up or down from last closing price. If Payoneer Global Inc. takes out the full calculated possible swing range there will be an estimated 6.21% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $4.89 (2.40%) than the resistance at $5.15 (2.79%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Payoneer Global Inc. stock A Buy?
Payoneer Global Inc. 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. 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 Sell candidate.
Current score: -1.160 Sell Candidate Downgraded
Predicted Opening Price for Payoneer Global Inc. of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $4.98 ( 0.532%) | $5.01 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PAYO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.08 | 1.46 % | |
| R2 | 5.05 | 0.701 % | ||
| R1 | 5.02 | 0.230 % | ||
| Current price: | 5.01 | |||
| Support | S1 | 4.95 | -1.29 % | |
| S2 | 4.92 | -1.77 % | ||
| S3 | 4.88 | -2.53 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.39 | 7.58 % | |
| R2 | 5.33 | 6.39 % | ||
| R1 | 5.15 | 2.79 % | ||
| Current price | 5.01 | |||
| Support | S1 | 4.89 | -2.40% | |
| S2 | 4.86 | -2.99% | ||
| S3 | 4.47 | -10.78% |
FAQ
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