PGT Stock Forecast
PGT stock price ended at $41.99 on Wednesday, after losing 0%.
(Updated on May 01, 2024)
No changes to the price of PGT stock on the last trading day (Wednesday, 1st May 2024). During the last trading day the stock fluctuated 0% from a day low at $41.99 to a day high of $41.99. The price has been going up and down for this period, and there has been a 0% change for the last 2 weeks.
The stock is at the lower part of a narrow and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $41.97 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect PGT stock with a 90% probability to be traded between $42.73 and $43.12 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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PGTI Signals & Forecast
The PGT 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 $41.99 and $41.97. A breakdown below any of these levels will issue sell signals. 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 Tuesday, April 30, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for PGT stock
PGT finds support from accumulated volume at $41.96 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 therefore the general risk is considered very 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 between high and low, or 0%. For the last week the stock has had daily average volatility of 0%
Our recommended stop-loss: $40.31 (-4.00%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (PGTI) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect PGT to open at $41.99, and during the day (based on 14 day Average True Range), to move between $41.98 and $42.00, which gives a possible trading interval of +/-$0.0103 (+/-0.02%) up or down from last closing price. If PGT takes out the full calculated possible swing range there will be an estimated 0.05% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $41.96, some $0.0300 (0.07%) from the current price of $41.99, our system finds the risk reward attractive.
Earnings coming up
PGT will release earnings BMO on Thursday, May 09, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.600. We will update the financials statements for PGT, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 7.32% in the first trading day after earnings release.
Is PGT stock A Buy?
PGT 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.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for PGT of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $41.99 ( 0%) | $41.99 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PGTI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 41.99 | . | |
| R2 | 41.99 | . | ||
| R1 | 41.99 | . | ||
| Current price: | 41.99 | |||
| Support | S1 | 41.99 | . | |
| S2 | 41.99 | . | ||
| S3 | 41.99 | . |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 41.99 | |||
| Support | S1 | 41.96 | -0.0714% | |
| S2 | 41.95 | -0.0953% | ||
| S3 | 41.79 | -0.476% |
FAQ
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