Purple Biotech Ltd. Stock Forecast
Volatile ride for Purple Biotech Ltd. stock price on Friday moving between $0.480 and $0.538
(Updated on Apr 26, 2024)
The Purple Biotech Ltd. stock price fell by -5.04% on the last day (Friday, 26th Apr 2024) from $0.516 to $0.490. During the last trading day the stock fluctuated 12.00% from a day low at $0.480 to a day high of $0.538. The price has been going up and down for this period, and there has been a -20.23% loss for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -1 million shares and in total, 172 thousand shares were bought and sold for approximately $84.29 thousand.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -24.55% during the next 3 months and, with a 90% probability hold a price between $0.287 and $0.575 at the end of this 3-month period.
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PPBT Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 18.90%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Purple Biotech Ltd. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $0.629. On a fall, the stock will find some support from the short-term average at $0.483. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Purple Biotech Ltd. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.461 and $0.434. 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, Purple Biotech Ltd. finds support just below today's level at $0.461. If this is broken, then the next support from accumulated volume will be at $0.434 and $0.412.
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 $0.0576 between high and low, or 12.00%. For the last week the stock has had daily average volatility of 16.03%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PPBT) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Purple Biotech Ltd. to open at $0.503, and during the day (based on 14 day Average True Range), to move between $0.411 and $0.569, which gives a possible trading interval of +/-$0.0787 (+/-16.07%) up or down from last closing price. If Purple Biotech Ltd. takes out the full calculated possible swing range there will be an estimated 32.14% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.513 (4.63%) than the support at $0.461 (5.92%), 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 Purple Biotech Ltd. stock A Buy?
Purple Biotech Ltd. 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.
Current score: -4.939 Sell Candidate Unchanged
Predicted Opening Price for Purple Biotech Ltd. of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $0.503 ( 2.56%) | $0.490 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PPBT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.560 | 14.31 % | |
| R2 | 0.538 | 9.82 % | ||
| R1 | 0.525 | 7.05 % | ||
| Current price: | 0.490 | |||
| Support | S1 | 0.481 | -1.93 % | |
| S2 | 0.467 | -4.71 % | ||
| S3 | 0.445 | -9.20 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.583 | 19.04 % | |
| R2 | 0.516 | 5.31 % | ||
| R1 | 0.513 | 4.63 % | ||
| Current price | 0.490 | |||
| Support | S1 | 0.461 | -5.92% | |
| S2 | 0.434 | -11.37% | ||
| S3 | 0.412 | -15.90% |
FAQ
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