Red day on Friday for PPG Industries Inc stock after losing 0.68975031038764%
(Updated on Dec 08, 2023)
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The stock lies in the upper part of a wide and weak rising 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 $145.12 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 6.37% during the next 3 months and, with a 90% probability hold a price between $132.67 and $154.36 at the end of this 3-month period.
PPG Signals & Forecast
The PPG Industries 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 $143.30 and $132.23. A breakdown below any of these levels will issue sell signals. 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 Thursday, December 07, 2023, and so far it has fallen -0.690%. 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 fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
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Support, Risk & Stop-loss for PPG Industries Inc stock
PPG Industries Inc finds support from accumulated volume at $143.15 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $2.10 between high and low, or 1.46%. For the last week, the stock has had daily average volatility of 1.35%.
The PPG Industries Inc stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: $138.74 (-3.64%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 81 and this increases the risk substantially. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (PPG) For The Upcoming Trading Day Of Monday 11th
For the upcoming trading day on Monday, 11th we expect PPG Industries Inc to open at $144.53, and during the day (based on 14 day Average True Range), to move between $141.65 and $146.31, which gives a possible trading interval of +/-$2.33 (+/-1.62%) up or down from last closing price. If PPG Industries Inc takes out the full calculated possible swing range there will be an estimated 3.23% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $143.15 (0.58%) than the resistance at $144.98 (0.69%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is PPG Industries 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 PPG Industries Inc stock to perform well in the short-term.
Current score: 1.226 Open Broker AccountBuy Candidate Unchanged
Predicted Opening Price for PPG Industries Inc of Monday, December 11, 2023
The predicted opening price is based on yesterday's movements between high, low, and closing price.
|Fair opening price December 11, 2023||Current price|
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Fibonacci Support & Resistance Levels
Accumulated Volume Support & Resistance Levels
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