Pagaya Technologies Ltd. Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Red day on Monday for Pagaya Technologies Ltd. stock after losing 0.336%
(Updated on May 20, 2024)
The Pagaya Technologies Ltd. stock price fell by -0.336% on the last day (Monday, 20th May 2024) from $11.90 to $11.86. During the last trading day the stock fluctuated 3.98% from a day low at $11.49 to a day high of $11.95. The price has fallen in 6 of the last 10 days but is still up by 8.21% 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 -40 thousand shares and in total, 595 thousand shares were bought and sold for approximately $7.05 million.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $12.03 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -35.74% during the next 3 months and, with a 90% probability hold a price between $4.40 and $7.73 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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PGY Signals & Forecast
The Pagaya Technologies Ltd. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $12.09. On a fall, the stock will find some support from the long-term average at approximately $10.66. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 Friday, May 10, 2024, and so far it has fallen -6.47%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Pagaya Technologies Ltd. stock
Pagaya Technologies Ltd. finds support from accumulated volume at $11.55 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.457 between high and low, or 3.98%. For the last week, the stock has had daily average volatility of 4.65%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PGY) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Pagaya Technologies Ltd. to open at $11.76, and during the day (based on 14 day Average True Range), to move between $11.08 and $12.64, which gives a possible trading interval of +/-$0.777 (+/-6.55%) up or down from last closing price. If Pagaya Technologies Ltd. takes out the full calculated possible swing range there will be an estimated 13.10% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $11.55 (2.61%) than the resistance at $12.60 (6.24%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Pagaya Technologies Ltd. stock A Buy?
Pagaya Technologies Ltd. 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: -1.734 Sell Candidate Unchanged
Predicted Opening Price for Pagaya Technologies Ltd. of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| $11.76 ( 0.81%) | $11.86 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PGY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 12.22 | 3.05 % | |
| R2 | 12.05 | 1.58 % | ||
| R1 | 11.94 | 0.665 % | ||
| Current price: | 11.86 | |||
| Support | S1 | 11.59 | -2.28 % | |
| S2 | 11.48 | -3.19 % | ||
| S3 | 11.31 | -4.66 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 14.73 | 24.20 % | |
| R2 | 12.68 | 6.91 % | ||
| R1 | 12.60 | 6.24 % | ||
| Current price | 11.86 | |||
| Support | S1 | 11.55 | -2.61% | |
| S2 | 10.78 | -9.11% | ||
| S3 | 9.87 | -16.78% |
FAQ
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