Premier Stock Forecast
Premier stock upgraded from Sell Candidate to Hold/Accumulate after Monday trading session.
(Updated on May 06, 2024)
The Premier stock price gained 0.93% on the last trading day (Monday, 6th May 2024), rising from $20.53 to $20.72. During the last trading day the stock fluctuated 1.07% from a day low at $20.64 to a day high of $20.86. The price has risen in 6 of the last 10 days but is still down by -1.57% for this period. Volume fell on the last day by -43 thousand shares and in total, 2 million shares were bought and sold for approximately $35.93 million. 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 is at the lower part of a horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $20.52 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Premier stock with a 90% probability to be traded between $20.15 and $21.53 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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PINC Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, May 03, 2024, and so far it has risen 0.93%. 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). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Premier stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $20.93 and $21.21. A break-up above any of these levels will issue buy signals.
Support, Risk & Stop-loss for Premier stock
Premier finds support from accumulated volume at $20.70 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 with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.220 between high and low, or 1.07%. For the last week the stock has had daily average volatility of 2.22%.
Our recommended stop-loss: $19.65 (-5.15%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 1 day ago.)
Trading Expectations (PINC) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Premier to open at $20.74, and during the day (based on 14 day Average True Range), to move between $20.27 and $21.17, which gives a possible trading interval of +/-$0.451 (+/-2.18%) up or down from last closing price. If Premier takes out the full calculated possible swing range there will be an estimated 4.36% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $20.70 (0.10%) than the resistance at $21.12 (1.93%), 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
Premier will release earnings BMO on Tuesday, May 07, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.470. We will update the financials statements for Premier, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 6.40% in the first trading day after earnings release.
Is Premier stock A Buy?
Premier holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.487 Hold/Accumulate Upgraded
Predicted Opening Price for Premier of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| $20.74 ( 0.0965%) | $20.72 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PINC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 20.96 | 1.16 % | |
| R2 | 20.88 | 0.753 % | ||
| R1 | 20.82 | 0.502 % | ||
| Current price: | 20.72 | |||
| Support | S1 | 20.66 | -0.309 % | |
| S2 | 20.60 | -0.560 % | ||
| S3 | 20.52 | -0.97 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 21.80 | 5.21 % | |
| R2 | 21.13 | 1.98 % | ||
| R1 | 21.12 | 1.93 % | ||
| Current price | 20.72 | |||
| Support | S1 | 20.70 | -0.0965% | |
| S2 | 20.64 | -0.386% | ||
| S3 | 20.53 | -0.92% |
PINC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 26, 2024 | May 31, 2024 | Jun 15, 2024 | $0.210 | 1.01% |
| 2 | Jan 25, 2024 | Feb 29, 2024 | Mar 15, 2024 | $0.210 | 0.99% |
| 3 | Oct 26, 2023 | Nov 30, 2023 | Dec 15, 2023 | $0.210 | 0.95% |
| 4 | Aug 10, 2023 | Aug 31, 2023 | Sep 15, 2023 | $0.210 | 0.96% |
| 5 | Apr 27, 2023 | May 31, 2023 | Jun 15, 2023 | $0.210 | 0.762% |
FAQ
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