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Potbelly Corporation stock downgraded to Hold/Accumulate
(Updated on Oct 03, 2024)

Buy or Hold candidate since Sep 11, 2024 Gain 4.70%

The Potbelly Corporation stock price fell by -1.60% on the last day (Thursday, 3rd Oct 2024) from $8.15 to $8.02. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 1.38% from a day low at $7.98 to a day high of $8.09. The price has fallen in 6 of the last 10 days and is down by -3.95% 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 -31 thousand shares and in total, 79 thousand shares were bought and sold for approximately $635.42 thousand.

The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 14.01% during the next 3 months and, with a 90% probability hold a price between $8.32 and $9.65 at the end of this 3-month period.

PBPB Signals & Forecast

The Potbelly Corporation stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $8.21. On a fall, the stock will find some support from the long-term average at approximately $7.96. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Friday, September 27, 2024, and so far it has fallen -4.52%. Further fall is indicated until a new bottom pivot has been found. 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 Potbelly Corporation stock

On the downside, the stock finds support just below today's level from accumulated volume at $7.55 and $7.22. 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, Potbelly Corporation finds support just below today's level at $7.55. If this is broken, then the next support from accumulated volume will be at $7.22 and $7.21.

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 $0.110 between high and low, or 1.38%. For the last week the stock has had daily average volatility of 2.95%.

Our recommended stop-loss: $7.59 (-5.35%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 4 days ago.)

Trading Expectations (PBPB) For The Upcoming Trading Day Of Friday 4th

For the upcoming trading day on Friday, 4th we expect Potbelly Corporation to open at $8.03, and during the day (based on 14 day Average True Range), to move between $7.76 and $8.28, which gives a possible trading interval of +/-$0.257 (+/-3.21%) up or down from last closing price. If Potbelly Corporation takes out the full calculated possible swing range there will be an estimated 6.42% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $8.22 (2.49%) than the support at $7.55 (5.86%), 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 Potbelly Corporation stock A Buy?

Potbelly Corporation 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.

Current score: 0.810 Hold/Accumulate Downgraded

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Predicted Fair Opening Price

Predicted fair opening price on October 4, 2024 - $8.03 ( 0.125%). The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for PBPB

Fibonacci Support & Resistance Levels

Level Price
R3 8.14 1.50%
R2 8.10 0.97%
R1 8.07 0.649%
Price 8.02
S1 7.99 -0.399%
S2 7.96 -0.723%
S3 7.92 -1.25%

Accumulated Volume Support & Resistance Levels

Level Price
R3 8.40 4.74%
R2 8.35 4.11%
R1 8.22 2.49%
Price 8.02
S1 7.55 -5.86%
S2 7.22 -9.98%
S3 7.21 -10.10%

FAQ

What is the symbol for Potbelly Corporation Stock and on which exchange is it traded?
The symbol for Potbelly Corporation is PBPB and it is traded on the NASDAQ (NASDAQ Stock Exchange).

Should I buy or sell Potbelly Corporation Stock?
Potbelly Corporation 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.

How to buy Potbelly Corporation Stock?
Potbelly Corporation Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Potbelly Corporation Stock.

What's the current price of Potbelly Corporation Stock?
As of the end of day on the Oct 03, 2024, the price of an Potbelly Corporation (PBPB) share was $8.02.

What is the 52-week high and low for Potbelly Corporation Stock?
The 52-week high for Potbelly Corporation Stock is $14.36 and the 52-week low is $6.28.

What is the market capitalization of Potbelly Corporation Stock?
As of the Oct 03, 2024, the market capitalization of Potbelly Corporation is 244.055M.

When is the next earnings date for Potbelly Corporation?
The upcoming earnings date for Potbelly Corporation is Nov 06, 2024.
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ABOUT POTBELLY CORPORATION
Potbelly
Potbelly Corporation, through its subsidiaries, owns, operates, and franchises Potbelly sandwich shops. As of December 26, 2021, it had 443 shops in 33 states and the District of Columbia, which included 397 shops and 46 franchisees operated shops. The company was formerly known as Potbelly Sandwich Works, Inc. and changed its name to Potbelly Corporation in 2002. Potbelly Corporation was founded in 1977 and is headquartered in Chicago, Illinois....
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