Permian Resources Corp Stock Forecast

Permian Resources Corp stock price up 0.289% on Friday
(Updated on Apr 26, 2024)

PR Signals & Forecast

The Permian Resources Corp 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 $17.23 and $17.22. 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 Tuesday, April 09, 2024, and so far it has fallen -3.87%. 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 Permian Resources Corp stock

Permian Resources Corp finds support from accumulated volume at $17.15 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 $0.320 between high and low, or 1.86%. For the last week the stock has had daily average volatility of 2.18%.

Our recommended stop-loss: $16.55 (-4.80%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 13 days ago.)

Trading Expectations (PR) For The Upcoming Trading Day Of Monday 29th

For the upcoming trading day on Monday, 29th we expect Permian Resources Corp to open at $17.35, and during the day (based on 14 day Average True Range), to move between $16.96 and $17.80, which gives a possible trading interval of +/-$0.416 (+/-2.39%) up or down from last closing price. If Permian Resources Corp takes out the full calculated possible swing range there will be an estimated 4.79% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $17.15 (1.32%) than the resistance at $17.72 (1.96%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Permian Resources Corp 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 Permian Resources Corp stock to perform well in the short-term.

Current score: 3.688 Buy Candidate Unchanged

Predicted Opening Price for Permian Resources Corp of Monday, April 29, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.