Pure Cycle Corporation Stock Forecast
Stronger technical forecast for Pure Cycle Corporation stock price after Wednesday trading.
(Updated on Apr 24, 2024)
The Pure Cycle Corporation stock price gained 0.737% on the last trading day (Wednesday, 24th Apr 2024), rising from $9.50 to $9.57. During the last trading day the stock fluctuated 2.68% from a day low at $9.34 to a day high of $9.59. The price has been going up and down for this period, and there has been a 0.63% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 thousand more shares were traded than the day before. In total, 45 thousand shares were bought and sold for approximately $426.15 thousand.
The stock lies in the middle of a 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 -6.96% during the next 3 months and, with a 90% probability hold a price between $8.27 and $9.11 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, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $9.49 and $9.54. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, March 18, 2024, and so far it has risen 4.02%. Further rise is indicated until a new top pivot has been found. Pure Cycle Corporation has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Pure Cycle Corporation stock
Pure Cycle Corporation finds support from accumulated volume at $9.54 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 $0.250 between high and low, or 2.68%. For the last week the stock has had daily average volatility of 2.55%.
Our recommended stop-loss: $9.05 (-5.46%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 26 days ago.)
Trading Expectations (PCYO) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Pure Cycle Corporation to open at $9.50, and during the day (based on 14 day Average True Range), to move between $9.30 and $9.84, which gives a possible trading interval of +/-$0.269 (+/-2.81%) up or down from last closing price. If Pure Cycle Corporation takes out the full calculated possible swing range there will be an estimated 5.61% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $9.54 (0.31%) than the resistance at $9.68 (1.15%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Pure Cycle Corporation stock A Buy?
Pure Cycle 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.907 Hold/Accumulate Upgraded
Predicted Opening Price for Pure Cycle Corporation of Thursday, April 25, 2024
Fair opening price April 25, 2024 | Current price |
---|---|
$9.50 ( 0.731%) | $9.57 |
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 | |||
---|---|---|---|---|
Resistance | R3 | 9.75 | 1.88 % | |
R2 | 9.65 | 0.88 % | ||
R1 | 9.60 | 0.266 % | ||
Current price: | 9.57 | |||
Support | S1 | 9.40 | -1.73 % | |
S2 | 9.35 | -2.35 % | ||
S3 | 9.25 | -3.34 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 9.89 | 3.34 % | |
R2 | 9.85 | 2.93 % | ||
R1 | 9.68 | 1.15 % | ||
Current price | 9.57 | |||
Support | S1 | 9.54 | -0.313% | |
S2 | 9.50 | -0.731% | ||
S3 | 9.30 | -2.82% |
FAQ
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