P3 Health Partners Inc. Stock Forecast
Green day on Friday for P3 Health Partners Inc.
(Updated on May 17, 2024)
The P3 Health Partners Inc. stock price gained 0.733% on the last trading day (Friday, 17th May 2024), rising from $0.600 to $0.605. During the last trading day the stock fluctuated 6.21% from a day low at $0.584 to a day high of $0.621. The price has fallen in 6 of the last 10 days and is down by -5.5% for this period. Volume fell on the last day by -5 thousand shares and in total, 174 thousand shares were bought and sold for approximately $105.19 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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 $0.675 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 -48.34% during the next 3 months and, with a 90% probability hold a price between $0.152 and $0.349 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
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 P3 Health Partners Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $0.646 and $0.625. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, May 08, 2024, and so far it has fallen -18.98%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for P3 Health Partners Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.500 and $0.500. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, P3 Health Partners Inc. finds support just below today's level at $0.500. If this is broken, then the next support from accumulated volume will be at $0.500 and $0.480.
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 $0.0363 between high and low, or 6.21%. For the last week the stock has had daily average volatility of 8.86%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PIII) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect P3 Health Partners Inc. to open at $0.603, and during the day (based on 14 day Average True Range), to move between $0.526 and $0.683, which gives a possible trading interval of +/-$0.0787 (+/-13.03%) 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 26.05% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.631 (4.40%) than the support at $0.500 (17.24%), 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.
Is P3 Health Partners Inc. stock A Buy?
P3 Health Partners Inc. holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -5.532 Strong Sell Candidate Unchanged
Predicted Opening Price for P3 Health Partners Inc. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $0.603 ( 0.237%) | $0.605 |
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 | 0.639 | 5.77 % | |
| R2 | 0.626 | 3.47 % | ||
| R1 | 0.617 | 2.06 % | ||
| Current price: | 0.605 | |||
| Support | S1 | 0.589 | -2.53 % | |
| S2 | 0.581 | -3.95 % | ||
| S3 | 0.567 | -6.24 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.725 | 19.92 % | |
| R2 | 0.707 | 16.91 % | ||
| R1 | 0.631 | 4.40 % | ||
| Current price | 0.605 | |||
| Support | S1 | 0.500 | -17.24% | |
| S2 | 0.500 | -17.27% | ||
| S3 | 0.480 | -20.61% |
FAQ
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