Prenetics Global Limited 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 Prenetics Global Limited as stock downgraded to Buy Candidate.
(Updated on May 14, 2024)
The Prenetics Global Limited stock price fell by -3.05% on the last day (Tuesday, 14th May 2024) from $6.22 to $6.03. During the last trading day the stock fluctuated 6.37% from a day low at $5.82 to a day high of $6.19. The price has been going up and down for this period, and there has been a 19.41% gain for the last 2 weeks. Volume has increased on the last day by 2 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, 24 thousand shares were bought and sold for approximately $143.28 thousand.
The stockis at the upper part of a very wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $6.22 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Prenetics Global Limited stock with a 90% probability to be traded between $2.84 and $6.14 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
PRE Signals & Forecast
The Prenetics Global Limited 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 $5.72 and $4.37. 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 Monday, May 13, 2024, and so far it has fallen -3.05%. Further fall is indicated until a new bottom pivot has been found. Prenetics Global Limited gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for Prenetics Global Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at $5.05 and $4.79. 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, Prenetics Global Limited finds support just below today's level at $5.05. If this is broken, then the next support from accumulated volume will be at $4.79 and $4.57.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.371 between high and low, or 6.37%. For the last week, the stock has had daily average volatility of 9.17%.
Our recommended stop-loss: $5.80 (-3.88%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (PRE) For The Upcoming Trading Day Of Wednesday 15th
For the upcoming trading day on Wednesday, 15th we expect Prenetics Global Limited to open at $6.01, and during the day (based on 14 day Average True Range), to move between $5.44 and $6.62, which gives a possible trading interval of +/-$0.592 (+/-9.82%) up or down from last closing price. If Prenetics Global Limited takes out the full calculated possible swing range there will be an estimated 19.64% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $6.22 (3.15%) than the support at $5.05 (16.25%), 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 Prenetics Global Limited stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Prenetics Global Limited stock to perform well in the short-term period. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 1.003 Buy Candidate Downgraded
Predicted Opening Price for Prenetics Global Limited of Wednesday, May 15, 2024
| Fair opening price May 15, 2024 | Current price |
|---|---|
| $6.01 ( 0.272%) | $6.03 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PRE
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.38 | 5.88 % | |
| R2 | 6.24 | 3.53 % | ||
| R1 | 6.16 | 2.08 % | ||
| Current price: | 6.03 | |||
| Support | S1 | 5.87 | -2.62 % | |
| S2 | 5.78 | -4.07 % | ||
| S3 | 5.64 | -6.42 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 6.22 | 3.15 % | ||
| Current price | 6.03 | |||
| Support | S1 | 5.05 | -16.25% | |
| S2 | 4.79 | -20.56% | ||
| S3 | 4.57 | -24.21% |
PRE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 08, 2016 | Feb 17, 2016 | Mar 01, 2016 | $0.700 | 0.499% |
| 2 | Oct 27, 2015 | Nov 04, 2015 | Dec 01, 2015 | $0.700 | 0.503% |
| 3 | Jul 27, 2015 | Aug 05, 2015 | Sep 01, 2015 | $0.700 | 0.506% |
| 4 | Apr 27, 2015 | May 06, 2015 | Jun 01, 2015 | $0.700 | 0.531% |
| 5 | Feb 02, 2015 | Feb 11, 2015 | Feb 27, 2015 | $0.700 | 0.611% |
FAQ
Click here for our free guide on how to buy Prenetics Global Limited Stock.
