Porch Group Inc Stock Forecast
Big movements in Porch Group Inc stock price on Thursday moving 10.40% between high and low
(Updated on Mar 28, 2024)
The Porch Group Inc stock price gained 4.36% on the last trading day (Thursday, 28th Mar 2024), rising from $4.13 to $4.31. During the last trading day the stock fluctuated 10.40% from a day low at $4.04 to a day high of $4.46. The price has risen in 7 of the last 10 days and is up by 14.32% over the past 2 weeks. Volume fell on the last day by -210 thousand shares and in total, 2 million shares were bought and sold for approximately $7.95 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a very wide and strong 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 48.06% during the next 3 months and, with a 90% probability hold a price between $5.09 and $6.83 at the end of this 3-month period.
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PRCH Signals & Forecast
Mostly positive signals in the chart today. The Porch Group Inc 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 $3.95 and $3.33. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, January 17, 2024, and so far it has risen 95.02%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Porch Group Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at $3.76 and $3.66. 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, Porch Group Inc finds support just below today's level at $3.76. If this is broken, then the next support from accumulated volume will be at $3.66 and $3.24.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.420 between high and low, or 10.40%. For the last week, the stock has had daily average volatility of 9.31%.
Our recommended stop-loss: $4.17 (-3.22%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 50 days ago.)
Trading Expectations (PRCH) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Porch Group Inc to open at $4.27, and during the day (based on 14 day Average True Range), to move between $3.95 and $4.67, which gives a possible trading interval of +/-$0.360 (+/-8.36%) up or down from last closing price. If Porch Group Inc takes out the full calculated possible swing range there will be an estimated 16.72% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $3.76, some $0.550 (12.76%) from the current price of $4.31, our system finds the risk reward attractive.
Is Porch Group Inc stock A Buy?
Porch Group Inc holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
Current score: 7.552 Strong Buy Candidate Unchanged
Predicted Opening Price for Porch Group Inc of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$4.27 ( 0.93%) | $4.31 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PRCH
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 4.69 | 8.82 % | |
R2 | 4.53 | 5.09 % | ||
R1 | 4.43 | 2.79 % | ||
Current price: | 4.31 | |||
Support | S1 | 4.11 | -4.65 % | |
S2 | 4.01 | -6.95 % | ||
S3 | 3.85 | -10.67 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 4.31 | |||
Support | S1 | 3.76 | -12.76% | |
S2 | 3.66 | -15.08% | ||
S3 | 3.24 | -24.83% |
FAQ
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