Permian Resources Corp Stock Forecast

Red day on Friday for Permian Resources Corp
(Updated on May 10, 2024)

PR Signals & Forecast

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. The Permian Resources Corp stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $17.06 and $17.38. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 09, 2024, and so far it has fallen -8.35%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

Support, Risk & Stop-loss for Permian Resources Corp stock

Permian Resources Corp finds support from accumulated volume at $16.48 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.780 (4.73%) between high and low. For the last week, the stock has had daily average volatility of 3.15%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (PR) For The Upcoming Trading Day Of Monday 13th

For the upcoming trading day on Monday, 13th we expect Permian Resources Corp to open at $16.78, and during the day (based on 14 day Average True Range), to move between $16.08 and $17.06, which gives a possible trading interval of +/-$0.489 (+/-2.95%) up or down from last closing price. If Permian Resources Corp takes out the full calculated possible swing range there will be an estimated 5.90% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $16.48 (0.54%) than the resistance at $17.15 (3.50%), 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?

The Permian Resources Corp stock holds several negative signals and despite the positive trend, we believe Permian Resources Corp will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Current score: -2.160 Sell Candidate Unchanged

Predicted Opening Price for Permian Resources Corp of Monday, May 13, 2024

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