Puma Biotechnology Inc Stock Forecast
High volatility in Puma Biotechnology Inc stock price on Monday which ended trading at $4.62
(Updated on May 06, 2024)
The Puma Biotechnology Inc stock price fell by -4.94% on the last day (Monday, 6th May 2024) from $4.86 to $4.62. During the last trading day the stock fluctuated 12.06% from a day low at $4.36 to a day high of $4.88. The price has fallen in 5 of the last 10 days and is down by -10.64% for this period. Volume has increased on the last day by 195 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 583 thousand shares were bought and sold for approximately $2.70 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 -19.54% during the next 3 months and, with a 90% probability hold a price between $2.82 and $4.87 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.
PBYI Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, March 19, 2024, and so far it has risen 7.44%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Puma Biotechnology 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 $4.93 and $5.18. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Puma Biotechnology Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at $4.30. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $ may give a huge drop in the stock price.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.525 between high and low, or 12.06%. For the last week, the stock has had daily average volatility of 7.17%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PBYI) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Puma Biotechnology Inc to open at $4.62, and during the day (based on 14 day Average True Range), to move between $4.28 and $4.96, which gives a possible trading interval of +/-$0.336 (+/-7.27%) up or down from last closing price. If Puma Biotechnology Inc takes out the full calculated possible swing range there will be an estimated 14.54% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $4.66 (0.87%) than the support at $4.30 (6.93%), 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 Puma Biotechnology Inc stock A Buy?
Puma Biotechnology Inc holds several negative signals and is within a very 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: -4.246 Sell Candidate Unchanged
Predicted Opening Price for Puma Biotechnology Inc of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| $4.62 ( 0.0361%) | $4.62 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PBYI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.14 | 11.33 % | |
| R2 | 4.94 | 6.99 % | ||
| R1 | 4.82 | 4.30 % | ||
| Current price: | 4.62 | |||
| Support | S1 | 4.42 | -4.38 % | |
| S2 | 4.29 | -7.06 % | ||
| S3 | 4.09 | -11.40 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.35 | 15.80 % | |
| R2 | 5.33 | 15.37 % | ||
| R1 | 4.66 | 0.87 % | ||
| Current price | 4.62 | |||
| Support | S1 | 4.30 | -6.93% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
Click here for our free guide on how to buy Puma Biotechnology Inc Stock.
