PROCEPT BioRobotics Corporation Stock Forecast
PROCEPT BioRobotics Corporation stock price down 0.86% on Friday
(Updated on Apr 26, 2024)
The PROCEPT BioRobotics Corporation stock price fell by -0.86% on the last day (Friday, 26th Apr 2024) from $52.28 to $51.83. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 3.33% from a day low at $51.07 to a day high of $52.77. The price has fallen in 7 of the last 10 days but is still up by 2.21% over the past 2 weeks. Volume has increased on the last day by 159 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 576 thousand shares were bought and sold for approximately $29.87 million.
The stock lies in the middle of a wide and weak 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 9.55% during the next 3 months and, with a 90% probability hold a price between $52.28 and $59.29 at the end of this 3-month period.
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PRCT Signals & Forecast
The PROCEPT BioRobotics Corporation 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 $51.83 and $49.56. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Tuesday, April 23, 2024, and so far it has fallen -3.57%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for PROCEPT BioRobotics Corporation stock
PROCEPT BioRobotics Corporation finds support from accumulated volume at $51.79 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $1.70 between high and low, or 3.33%. For the last week, the stock has had daily average volatility of 5.64%.
Our recommended stop-loss: $49.73 (-4.05%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 3 days ago.)
Trading Expectations (PRCT) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect PROCEPT BioRobotics Corporation to open at $51.89, and during the day (based on 14 day Average True Range), to move between $49.39 and $54.27, which gives a possible trading interval of +/-$2.44 (+/-4.72%) up or down from last closing price. If PROCEPT BioRobotics Corporation takes out the full calculated possible swing range there will be an estimated 9.43% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $51.79 (0.08%) than the resistance at $51.99 (0.31%), 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
PROCEPT BioRobotics Corporation will release earnings BMO on Wednesday, May 01, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.550. We will update the financials statements for PROCEPT BioRobotics Corporation, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 10.16% in the first trading day after earnings release.
Is PROCEPT BioRobotics Corporation 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 PROCEPT BioRobotics Corporation stock to perform well in the short-term.
Current score: 2.572 Buy Candidate Unchanged
Predicted Opening Price for PROCEPT BioRobotics Corporation of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $51.89 ( 0.116%) | $51.83 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PRCT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 53.59 | 3.40 % | |
| R2 | 52.94 | 2.14 % | ||
| R1 | 52.54 | 1.37 % | ||
| Current price: | 51.83 | |||
| Support | S1 | 51.24 | -1.14 % | |
| S2 | 50.84 | -1.91 % | ||
| S3 | 50.19 | -3.16 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 53.75 | 3.70 % | |
| R2 | 52.48 | 1.25 % | ||
| R1 | 51.99 | 0.309 % | ||
| Current price | 51.83 | |||
| Support | S1 | 51.79 | -0.0772% | |
| S2 | 49.28 | -4.92% | ||
| S3 | 48.80 | -5.85% |
FAQ
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