Plexus Corp. Stock Forecast
Evaluation of Plexus Corp. stock downgraded after the last trading session.
(Updated on Apr 24, 2024)
The Plexus Corp. stock price fell by -0.94% on the last day (Wednesday, 24th Apr 2024) from $96.58 to $95.67. During the last trading day the stock fluctuated 1.89% from a day low at $95.03 to a day high of $96.83. The price has been going up and down for this period, and there has been a -0.01% loss for the last 2 weeks. Volume has increased on the last day by 11 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 113 thousand shares were bought and sold for approximately $10.84 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Plexus Corp. stock with a 90% probability to be traded between $89.98 and $99.02 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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PLXS Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Tuesday, April 09, 2024, and so far it has fallen -2.51%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. The Plexus Corp. 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 $94.49 and $94.26. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for Plexus Corp. stock
Plexus Corp. finds support from accumulated volume at $94.72 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 $1.80 between high and low, or 1.89%. For the last week the stock has had daily average volatility of 2.02%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PLXS) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Plexus Corp. to open at $95.84, and during the day (based on 14 day Average True Range), to move between $93.68 and $97.66, which gives a possible trading interval of +/-$1.99 (+/-2.08%) up or down from last closing price. If Plexus Corp. takes out the full calculated possible swing range there will be an estimated 4.17% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $95.68 (0.01%) than the support at $94.72 (0.99%), 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 Plexus Corp. stock A Buy?
Plexus Corp. 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.083 Sell Candidate Downgraded
Predicted Opening Price for Plexus Corp. of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $95.84 ( 0.181%) | $95.67 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PLXS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 97.64 | 2.06 % | |
| R2 | 96.96 | 1.34 % | ||
| R1 | 96.53 | 0.90 % | ||
| Current price: | 95.67 | |||
| Support | S1 | 95.16 | -0.538 % | |
| S2 | 94.73 | -0.98 % | ||
| S3 | 94.04 | -1.70 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 96.38 | 0.742 % | |
| R2 | 95.73 | 0.0627 % | ||
| R1 | 95.68 | 0.0105 % | ||
| Current price | 95.67 | |||
| Support | S1 | 94.72 | -0.99% | |
| S2 | 94.40 | -1.33% | ||
| S3 | 91.76 | -4.09% |
FAQ
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