Papaya Growth Opportunity Corp. I Stock Forecast
Papaya Growth Opportunity Corp. I stock upgraded from Hold/Accumulate to Buy Candidate after Friday trading session.
(Updated on Jun 28, 2024)
No changes to the price of Papaya Growth Opportunity Corp. I stock on the last trading day (Friday, 28th Jun 2024). During the last trading day the stock fluctuated 0% from a day low at $11.75 to a day high of $11.75. The price has been going up and down for this period, and there has been a 5.38% gain for the last 2 weeks.
The stock lies in the middle of a weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 3.34% during the next 3 months and, with a 90% probability hold a price between $11.58 and $12.74 at the end of this 3-month period.
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PPYAU Signals & Forecast
The Papaya Growth Opportunity Corp. I 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 $11.60 and $11.41. A breakdown below any of these levels will issue sell signals. 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 Thursday, June 27, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
A buy signal from a double bottom formation was found on Wednesday, May 22, 2024 and based on theory for this formation the price should go up by 3.83% to $12.20 within 5 trading days since signal was issued (Thursday, May 30, 2024).
Support, Risk & Stop-loss for Papaya Growth Opportunity Corp. I stock
On the downside, the stock finds support just below today's level from accumulated volume at $11.10 and $11.02. 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, Papaya Growth Opportunity Corp. I finds support just below today's level at $11.10. If this is broken, then the next support from accumulated volume will be at $11.02 and $11.00.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0 between high and low, or 0%. For the last week the stock has had daily average volatility of 0.504%
Our recommended stop-loss: $11.32 (-3.70%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 11 days ago.)
Trading Expectations (PPYAU) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Papaya Growth Opportunity Corp. I to open at $11.75, and during the day (based on 14 day Average True Range), to move between $11.42 and $12.08, which gives a possible trading interval of +/-$0.327 (+/-2.78%) up or down from last closing price. If Papaya Growth Opportunity Corp. I takes out the full calculated possible swing range there will be an estimated 5.56% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $11.96 (1.79%) than the support at $11.10 (5.53%), 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 Papaya Growth Opportunity Corp. I 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 Papaya Growth Opportunity Corp. I stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.405 Buy Candidate Upgraded
Predicted Opening Price for Papaya Growth Opportunity Corp. I of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $11.75 ( 0%) | $11.75 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PPYAU
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 11.75 | - |
| R2 | 11.75 | - |
| R1 | 11.75 | - |
| Price | 11.75 | |
| S1 | 11.75 | - |
| S2 | 11.75 | - |
| S3 | 11.75 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 12.12 | 3.15% |
| R1 | 11.96 | 1.79% |
| Price | 11.75 | |
| S1 | 11.10 | -5.53% |
| S2 | 11.02 | -6.21% |
| S3 | 11.00 | -6.38% |
FAQ
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