Performant Financial Corporation Stock Forecast
Performant Financial Corporation stock price up 2.54% on Thursday
(Updated on May 02, 2024)
The Performant Financial Corporation stock price gained 2.54% on the last trading day (Thursday, 2nd May 2024), rising from $2.76 to $2.83. During the last trading day the stock fluctuated 3.62% from a day low at $2.76 to a day high of $2.86. The price has risen in 6 of the last 10 days and is up by 7.6% 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, 4 thousand more shares were traded than the day before. In total, 145 thousand shares were bought and sold for approximately $411.70 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 -7.57% during the next 3 months and, with a 90% probability hold a price between $2.21 and $2.75 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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PFMT Signals & Forecast
Mostly positive signals in the chart today. The Performant Financial 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 $2.71 and $2.73. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 10, 2024, and so far it has risen 15.51%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Performant Financial 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.
Support, Risk & Stop-loss for Performant Financial Corporation stock
Performant Financial Corporation finds support from accumulated volume at $2.69 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.100 between high and low, or 3.62%. For the last week, the stock has had daily average volatility of 4.11%.
Our recommended stop-loss: $2.71 (-4.38%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 16 days ago.)
Trading Expectations (PFMT) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Performant Financial Corporation to open at $2.82, and during the day (based on 14 day Average True Range), to move between $2.70 and $2.96, which gives a possible trading interval of +/-$0.128 (+/-4.52%) up or down from last closing price. If Performant Financial Corporation takes out the full calculated possible swing range there will be an estimated 9.05% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $2.90 (2.47%) than the support at $2.69 (4.95%), 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.
Earnings coming up
Performant Financial Corporation will release earnings AMC on Tuesday, May 07, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.0600. We will update the financials statements for Performant Financial Corporation, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 9.77% in the first trading day after earnings release.
Is Performant Financial Corporation stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 4.000 Buy Candidate Unchanged
Predicted Opening Price for Performant Financial Corporation of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $2.82 ( 0.471%) | $2.83 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PFMT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.92 | 3.06 % | |
| R2 | 2.88 | 1.71 % | ||
| R1 | 2.85 | 0.88 % | ||
| Current price: | 2.83 | |||
| Support | S1 | 2.78 | -1.82 % | |
| S2 | 2.75 | -2.65 % | ||
| S3 | 2.72 | -4.00 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.94 | 3.89 % | |
| R2 | 2.91 | 2.83 % | ||
| R1 | 2.90 | 2.47 % | ||
| Current price | 2.83 | |||
| Support | S1 | 2.69 | -4.95% | |
| S2 | 2.68 | -5.30% | ||
| S3 | 2.66 | -6.01% |
FAQ
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