Positron Corporation Stock Forecast
Red day on Tuesday for Positron Corporation
(Updated on May 21, 2024)
The Positron Corporation stock price fell by -2.50% on the last day (Tuesday, 21st May 2024) from $1.20 to $1.17. During the last trading day the stock fluctuated 6.36% from a day low at $1.10 to a day high of $1.17. The price has risen in 4 of the last 10 days and is up by 17% over the past 2 weeks. Volume has increased on the last day by 1 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, 1 thousand shares were bought and sold for approximately $1.70 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 $1.20 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 -19.84% during the next 3 months and, with a 90% probability hold a price between $0.688 and $0.96 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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POSC Signals & Forecast
The Positron Corporation stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $1.18. On a fall, the stock will find some support from the long-term average at approximately $1.16. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 20, 2024, and so far it has fallen -2.50%. Further fall is indicated until a new bottom pivot has been found. Positron Corporation gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Positron Corporation stock
Positron Corporation finds support from accumulated volume at $1.15 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 much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.0700 between high and low, or 6.36%. For the last week, the stock has had daily average volatility of 1.27%.
Our recommended stop-loss: $1.13 (-3.76%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (POSC) For The Upcoming Trading Day Of Wednesday 22nd
For the upcoming trading day on Wednesday, 22nd we expect Positron Corporation to open at $1.15, and during the day (based on 14 day Average True Range), to move between $1.11 and $1.23, which gives a possible trading interval of +/-$0.0630 (+/-5.39%) up or down from last closing price. If Positron Corporation takes out the full calculated possible swing range there will be an estimated 10.77% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.15 (1.71%) than the resistance at $1.20 (2.56%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Positron Corporation stock A Buy?
Positron Corporation 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: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Positron Corporation of Wednesday, May 22, 2024
| Fair opening price May 22, 2024 | Current price |
|---|---|
| $1.15 ( 1.99%) | $1.17 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for POSC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.22 | 3.99 % | |
| R2 | 1.19 | 1.70 % | ||
| R1 | 1.17 | 0.291 % | ||
| Current price: | 1.17 | |||
| Support | S1 | 1.12 | -4.28 % | |
| S2 | 1.10 | -5.69 % | ||
| S3 | 1.08 | -7.98 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.30 | 11.11 % | |
| R2 | 1.25 | 6.84 % | ||
| R1 | 1.20 | 2.56 % | ||
| Current price | 1.17 | |||
| Support | S1 | 1.15 | -1.71% | |
| S2 | 1.10 | -5.98% | ||
| S3 | 1.00 | -14.53% |
FAQ
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