Profire Energy Stock Forecast
Red day on Thursday for Profire Energy
(Updated on May 02, 2024)
No changes to the price of Profire Energy stock on the last trading day (Thursday, 2nd May 2024). During the last trading day the stock fluctuated 3.95% from a day low at $1.77 to a day high of $1.84. The price has fallen in 5 of the last 10 days and is down by -2.7% for this period.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $1.72 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 32.02% during the next 3 months and, with a 90% probability hold a price between $2.26 and $2.93 at the end of this 3-month period.
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PFIE Signals & Forecast
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. The Profire Energy 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 $1.81 and $1.83. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, March 25, 2024, and so far it has fallen -9.09%. Further fall is indicated until a new bottom pivot has been found. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point".
Support, Risk & Stop-loss for Profire Energy stock
Profire Energy finds support from accumulated volume at $1.76 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 $0.0700 between high and low, or 3.95%. For the last week the stock has had daily average volatility of 3.26%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PFIE) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Profire Energy to open at $1.80, and during the day (based on 14 day Average True Range), to move between $1.70 and $1.90, which gives a possible trading interval of +/-$0.0959 (+/-5.33%) up or down from last closing price. If Profire Energy takes out the full calculated possible swing range there will be an estimated 10.66% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.76 (2.22%) than the resistance at $1.85 (2.78%), 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
Profire Energy will release earnings AMC on Wednesday, May 08, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.0400. We will update the financials statements for Profire Energy, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.43% in the first trading day after earnings release.
Is Profire Energy stock A Buy?
The Profire Energy stock holds several negative signals and despite the positive trend, we believe Profire Energy will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -1.834 Sell Candidate Unchanged
Predicted Opening Price for Profire Energy of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $1.80 ( 0.185%) | $1.80 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PFIE
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.87 | 4.07 % | |
| R2 | 1.85 | 2.59 % | ||
| R1 | 1.83 | 1.67 % | ||
| Current price: | 1.80 | |||
| Support | S1 | 1.78 | -1.30 % | |
| S2 | 1.76 | -2.22 % | ||
| S3 | 1.73 | -3.70 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.87 | 3.89 % | |
| R2 | 1.86 | 3.33 % | ||
| R1 | 1.85 | 2.78 % | ||
| Current price | 1.80 | |||
| Support | S1 | 1.76 | -2.22% | |
| S2 | 1.75 | -2.78% | ||
| S3 | 1.38 | -23.33% |
FAQ
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