ProAssurance Corporation Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Weaker technical forecast for ProAssurance Corporation as stock downgraded to Sell Candidate.
(Updated on Apr 26, 2024)
The ProAssurance Corporation stock price fell by -3.52% on the last day (Friday, 26th Apr 2024) from $13.65 to $13.17. During the last trading day the stock fluctuated 4.11% from a day low at $13.15 to a day high of $13.69. The price has risen in 6 of the last 10 days but is still down by -0.68% for this period. 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 -7 thousand shares and in total, 244 thousand shares were bought and sold for approximately $3.21 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect ProAssurance Corporation stock with a 90% probability to be traded between $11.71 and $13.85 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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PRA Signals & Forecast
The ProAssurance Corporation stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $13.53. On a fall, the stock will find some support from the long-term average at approximately $12.76. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell 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 Wednesday, April 24, 2024, and so far it has fallen -5.73%. 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.
Support, Risk & Stop-loss for ProAssurance Corporation stock
On the downside, the stock finds support just below today's level from accumulated volume at $12.43 and $12.40. 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, ProAssurance Corporation finds support just below today's level at $12.43. If this is broken, then the next support from accumulated volume will be at $12.40 and $11.98.
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 $0.540 between high and low, or 4.11%. For the last week, the stock has had daily average volatility of 3.12%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PRA) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect ProAssurance Corporation to open at $13.34, and during the day (based on 14 day Average True Range), to move between $12.74 and $13.60, which gives a possible trading interval of +/-$0.430 (+/-3.27%) up or down from last closing price. If ProAssurance Corporation takes out the full calculated possible swing range there will be an estimated 6.53% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $13.26 (0.68%) than the support at $12.43 (5.62%), 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 ProAssurance Corporation stock A Buy?
ProAssurance Corporation 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.904 Sell Candidate Downgraded
Predicted Opening Price for ProAssurance Corporation of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $13.34 ( 1.27%) | $13.17 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PRA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.88 | 5.37 % | |
| R2 | 13.67 | 3.80 % | ||
| R1 | 13.54 | 2.83 % | ||
| Current price: | 13.17 | |||
| Support | S1 | 13.13 | -0.301 % | |
| S2 | 13.00 | -1.27 % | ||
| S3 | 12.80 | -2.83 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.69 | 3.95 % | |
| R2 | 13.47 | 2.28 % | ||
| R1 | 13.26 | 0.683 % | ||
| Current price | 13.17 | |||
| Support | S1 | 12.43 | -5.62% | |
| S2 | 12.40 | -5.85% | ||
| S3 | 11.98 | -9.04% |
PRA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 08, 2023 | Mar 28, 2023 | Apr 13, 2023 | $0.0500 | 0.271% |
| 2 | Nov 30, 2022 | Dec 21, 2022 | Jan 10, 2023 | $0.0500 | 0.279% |
| 3 | Sep 08, 2022 | Sep 28, 2022 | Oct 13, 2022 | $0.0500 | 0.247% |
| 4 | May 24, 2022 | Jun 14, 2022 | Jun 29, 2022 | $0.0500 | 0.216% |
| 5 | Mar 02, 2022 | Mar 23, 2022 | Apr 07, 2022 | $0.0500 | 0.190% |
FAQ
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