PureCycle Technologies, Inc. Stock Forecast
Green day on Thursday for PureCycle Technologies, Inc. stock after gaining 2.81%
(Updated on Mar 28, 2024)
The PureCycle Technologies, Inc. stock price gained 2.81% on the last trading day (Thursday, 28th Mar 2024), rising from $6.05 to $6.22. During the last trading day the stock fluctuated 7.57% from a day low at $5.95 to a day high of $6.40. The price has risen in 6 of the last 10 days and is up by 19.62% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 773 thousand more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately $16.54 million.
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 109.96% during the next 3 months and, with a 90% probability hold a price between $11.19 and $13.77 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.
PCT Signals & Forecast
The PureCycle Technologies, 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 $6.09 and $5.51. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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. A sell signal was issued from a pivot top point on Wednesday, March 20, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for PureCycle Technologies, Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $5.65 and $5.10. 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, PureCycle Technologies, Inc. finds support just below today's level at $5.65. If this is broken, then the next support from accumulated volume will be at $5.10 and $5.01.
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 $0.450 between high and low, or 7.57%. For the last week, the stock has had daily average volatility of 5.69%.
Our recommended stop-loss: $5.99 (-3.62%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 6 days ago.)
Trading Expectations (PCT) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect PureCycle Technologies, Inc. to open at $6.19, and during the day (based on 14 day Average True Range), to move between $5.76 and $6.68, which gives a possible trading interval of +/-$0.456 (+/-7.34%) up or down from last closing price. If PureCycle Technologies, Inc. takes out the full calculated possible swing range there will be an estimated 14.67% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $5.65, some $0.570 (9.16%) from the current price of $6.22, our system finds the risk reward attractive.
Is PureCycle Technologies, Inc. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for PureCycle Technologies, Inc. stock to perform well in the short-term.
Current score: 4.294 Buy Candidate Unchanged
Predicted Opening Price for PureCycle Technologies, Inc. of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$6.19 ( 0.536%) | $6.22 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PCT
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 6.64 | 6.70 % | |
R2 | 6.46 | 3.94 % | ||
R1 | 6.36 | 2.23 % | ||
Current price: | 6.22 | |||
Support | S1 | 6.01 | -3.30 % | |
S2 | 5.91 | -5.01 % | ||
S3 | 5.74 | -7.77 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 6.22 | |||
Support | S1 | 5.65 | -9.16% | |
S2 | 5.10 | -18.01% | ||
S3 | 5.01 | -19.45% |
FAQ
Click here for our free guide on how to buy PureCycle Technologies, Inc. Stock.