The Pennant Group, Inc. Stock Forecast
Green day on Friday for The Pennant Group, Inc.
(Updated on Apr 19, 2024)
The The Pennant Group, Inc. stock price gained 2.06% on the last trading day (Friday, 19th Apr 2024), rising from $19.89 to $20.30. During the last trading day the stock fluctuated 3.09% from a day low at $19.72 to a day high of $20.33. The price has fallen in 6 of the last 10 days and is down by -2.03% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 9 thousand more shares were traded than the day before. In total, 130 thousand shares were bought and sold for approximately $2.64 million.
The stock lies in the lower part of a strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $19.99 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 40.39% during the next 3 months and, with a 90% probability hold a price between $28.07 and $30.50 at the end of this 3-month period.
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PNTG Signals & Forecast
The The Pennant Group, Inc. 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 $20.10 and $19.61. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. 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, April 05, 2024, and so far it has fallen -2.03%. 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).
Support, Risk & Stop-loss for The Pennant Group, Inc. stock
The Pennant Group, Inc. finds support from accumulated volume at $20.01 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 $0.610 between high and low, or 3.09%. For the last week the stock has had daily average volatility of 3.07%.
Our recommended stop-loss: $19.42 (-4.35%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 10 days ago.)
Trading Expectations (PNTG) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect The Pennant Group, Inc. to open at $20.12, and during the day (based on 14 day Average True Range), to move between $19.73 and $20.87, which gives a possible trading interval of +/-$0.572 (+/-2.82%) up or down from last closing price. If The Pennant Group, Inc. takes out the full calculated possible swing range there will be an estimated 5.63% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $20.32 (0.10%) than the support at $20.01 (1.43%), 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 The Pennant Group, Inc. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for The Pennant Group, Inc. stock to perform well in the short-term.
Current score: 3.786 Buy Candidate Unchanged
Predicted Opening Price for The Pennant Group, Inc. of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $20.12 ( 0.90%) | $20.30 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PNTG
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 20.73 | 2.10 % | |
| R2 | 20.49 | 0.95 % | ||
| R1 | 20.35 | 0.245 % | ||
| Current price: | 20.30 | |||
| Support | S1 | 19.88 | -2.05 % | |
| S2 | 19.74 | -2.76 % | ||
| S3 | 19.51 | -3.91 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 20.72 | 2.07 % | |
| R2 | 20.35 | 0.246 % | ||
| R1 | 20.32 | 0.0985 % | ||
| Current price | 20.30 | |||
| Support | S1 | 20.01 | -1.43% | |
| S2 | 18.65 | -8.13% | ||
| S3 | 16.25 | -19.95% |
FAQ
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