P3 Health Partners Inc. Stock Forecast
High volatility in P3 Health Partners Inc. stock price on Tuesday which ended trading at $0.714
(Updated on May 07, 2024)
The P3 Health Partners Inc. stock price fell by -1.57% on the last day (Tuesday, 7th May 2024) from $0.725 to $0.714. During the last trading day the stock fluctuated 24.19% from a day low at $0.651 to a day high of $0.81. The price has risen in 6 of the last 10 days and is up by 39.08% 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 -103 thousand shares and in total, 545 thousand shares were bought and sold for approximately $389.14 thousand.
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 $0.714 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 -49.17% during the next 3 months and, with a 90% probability hold a price between $0.187 and $0.363 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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PIII Signals & Forecast
The P3 Health Partners Inc. 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 $0.609 and $0.701. A breakdown below any of these levels will issue sell signals. 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 Monday, May 06, 2024, and so far it has fallen -1.57%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for P3 Health Partners Inc. stock
P3 Health Partners Inc. finds support from accumulated volume at $0.709 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 very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.158 between high and low, or 24.19%. For the last week the stock has had daily average volatility of 19.05%.
Our recommended stop-loss: $0.685 (-4.06%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (PIII) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect P3 Health Partners Inc. to open at $0.724, and during the day (based on 14 day Average True Range), to move between $0.625 and $0.80, which gives a possible trading interval of +/-$0.0886 (+/-12.42%) up or down from last closing price. If P3 Health Partners Inc. takes out the full calculated possible swing range there will be an estimated 24.84% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.709 (0.67%) than the resistance at $0.725 (1.60%), 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
P3 Health Partners Inc. will release earnings AMC on Wednesday, May 08, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.190. We will update the financials statements for P3 Health Partners Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 14.22% in the first trading day after earnings release.
Is P3 Health Partners Inc. stock A Buy?
P3 Health Partners Inc. 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: -0.833 Hold/Accumulate Unchanged
Predicted Opening Price for P3 Health Partners Inc. of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| $0.724 ( 1.54%) | $0.714 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PIII
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.88 | 23.61 % | |
| R2 | 0.82 | 15.18 % | ||
| R1 | 0.785 | 9.97 % | ||
| Current price: | 0.714 | |||
| Support | S1 | 0.664 | -6.90 % | |
| S2 | 0.627 | -12.10 % | ||
| S3 | 0.567 | -20.54 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.81 | 13.54 % | |
| R2 | 0.792 | 11.00 % | ||
| R1 | 0.725 | 1.60 % | ||
| Current price | 0.714 | |||
| Support | S1 | 0.709 | -0.673% | |
| S2 | 0.707 | -0.95% | ||
| S3 | 0.631 | -11.55% |
FAQ
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