PRA Group Stock Forecast
PRA Group stock upgraded to Hold/Accumulate.
(Updated on May 01, 2024)
The PRA Group stock price gained 2.06% on the last trading day (Wednesday, 1st May 2024), rising from $23.79 to $24.28. During the last trading day the stock fluctuated 4.86% from a day low at $23.65 to a day high of $24.80. The price has fallen in 6 of the last 10 days but is still up by 1% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 19 thousand more shares were traded than the day before. In total, 147 thousand shares were bought and sold for approximately $3.58 million.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect PRA Group stock with a 90% probability to be traded between $22.23 and $27.86 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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PRAA Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 8.83%. Further rise is indicated until a new top pivot has been found. 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. The PRA Group stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $24.54. On a fall, the stock will find some support from the short-term average at $24.26. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for PRA Group stock
On the downside, the stock finds support just below today's level from accumulated volume at $23.03 and $22.97. 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, PRA Group finds support just below today's level at $23.03. If this is broken, then the next support from accumulated volume will be at $22.97 and $22.84.
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 $1.15 between high and low, or 4.86%. For the last week, the stock has had daily average volatility of 3.02%.
Our recommended stop-loss: $23.18 (-4.53%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 11 days ago.)
Trading Expectations (PRAA) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect PRA Group to open at $24.24, and during the day (based on 14 day Average True Range), to move between $23.30 and $25.26, which gives a possible trading interval of +/-$0.98 (+/-4.03%) up or down from last closing price. If PRA Group takes out the full calculated possible swing range there will be an estimated 8.06% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $23.03 (5.15%) than the resistance at $25.56 (5.27%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
PRA Group will release earnings AMC on Monday, May 06, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.150. We will update the financials statements for PRA Group, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.64% in the first trading day after earnings release.
Is PRA Group stock A Buy?
PRA Group holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.344 Hold/Accumulate Upgraded
Predicted Opening Price for PRA Group of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $24.24 ( 0.151%) | $24.28 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PRAA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 25.39 | 4.59 % | |
| R2 | 24.95 | 2.78 % | ||
| R1 | 24.68 | 1.66 % | ||
| Current price: | 24.28 | |||
| Support | S1 | 23.80 | -1.96 % | |
| S2 | 23.53 | -3.08 % | ||
| S3 | 23.09 | -4.89 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 28.00 | 15.32 % | |
| R2 | 26.10 | 7.50 % | ||
| R1 | 25.56 | 5.27 % | ||
| Current price | 24.28 | |||
| Support | S1 | 23.03 | -5.15% | |
| S2 | 22.97 | -5.40% | ||
| S3 | 22.84 | -5.93% |
PRAA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 23, 2007 | May 07, 2007 | Jun 08, 2007 | $0.333 | 1.72% |
FAQ
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