Pure Cycle Corporation Stock Forecast
Pure Cycle Corporation stock price ended at $9.34 on Tuesday, after losing 2.20%.
(Updated on Jul 02, 2024)
The Pure Cycle Corporation stock price fell by -2.20% on the last day (Tuesday, 2nd Jul 2024) from $9.55 to $9.34. During the last trading day the stock fluctuated 3.21% from a day low at $9.32 to a day high of $9.62. The price has risen in 5 of the last 10 days and is up by 0.54% over the past 2 weeks. 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 -354 shares and in total, 36 thousand shares were bought and sold for approximately $333.01 thousand.
The stock lies in the middle of a 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 -4.46% during the next 3 months and, with a 90% probability hold a price between $8.52 and $9.25 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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PCYO Signals & Forecast
The Pure Cycle Corporation 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 $9.31 and $9.30. 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). 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 Monday, July 01, 2024, and so far it has fallen -2.20%. 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.
A buy signal from a double bottom formation was found on Tuesday, June 25, 2024 and based on theory for this formation the price should go up by 6.10% to $9.91 within 11 trading days since signal was issued (Thursday, July 11, 2024).
Support, Risk & Stop-loss for Pure Cycle Corporation stock
Pure Cycle Corporation finds support from accumulated volume at $9.29 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 controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the stock. During the last day, the stock moved $0.299 between high and low, or 3.21%. For the last week the stock has had daily average volatility of 3.13%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PCYO) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Pure Cycle Corporation to open at $9.43, and during the day (based on 14 day Average True Range), to move between $9.10 and $9.58, which gives a possible trading interval of +/-$0.239 (+/-2.56%) up or down from last closing price. If Pure Cycle Corporation takes out the full calculated possible swing range there will be an estimated 5.13% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $9.29 (0.54%) than the resistance at $9.50 (1.71%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Pure Cycle Corporation will release earnings BMO on Wednesday, July 10, 2024. We will update the financials statements for Pure Cycle Corporation, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.26% in the first trading day after earnings release.
Is Pure Cycle Corporation stock A Buy?
Pure Cycle Corporation 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.
Current score: -1.005 Sell Candidate Unchanged
Predicted Opening Price for Pure Cycle Corporation of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $9.43 ( 0.92%) | $9.34 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PCYO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 9.73 | 4.13% |
| R2 | 9.61 | 2.90% |
| R1 | 9.54 | 2.15% |
| Price | 9.34 | |
| S1 | 9.31 | -0.299% |
| S2 | 9.24 | -1.05% |
| S3 | 9.13 | -2.28% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 9.68 | 3.64% |
| R2 | 9.55 | 2.25% |
| R1 | 9.50 | 1.71% |
| Price | 9.34 | |
| S1 | 9.29 | -0.535% |
| S2 | 9.20 | -1.50% |
| S3 | 9.13 | -2.25% |
FAQ
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