Perficient Stock Forecast
Perficient stock price down 1.51% on Friday
(Updated on May 03, 2024)
The Perficient stock price fell by -1.51% on the last day (Friday, 3rd May 2024) from $48.85 to $48.11. During the last trading day the stock fluctuated 3.85% from a day low at $48.03 to a day high of $49.88. The price has risen in 6 of the last 10 days and is up by 7.39% over the past 2 weeks. 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 -104 thousand shares and in total, 669 thousand shares were bought and sold for approximately $32.20 million.
The stock lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $48.36 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -38.42% during the next 3 months and, with a 90% probability hold a price between $24.50 and $29.78 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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PRFT Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 12.67%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Perficient 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 $51.04. On a fall, the stock will find some support from the short-term average at $45.80. 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. 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 Perficient stock
Perficient finds support from accumulated volume at $47.26 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $1.85 between high and low, or 3.85%. For the last week, the stock has had daily average volatility of 5.07%.
Our recommended stop-loss: $46.20 (-3.96%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (PRFT) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Perficient to open at $48.67, and during the day (based on 14 day Average True Range), to move between $46.11 and $50.11, which gives a possible trading interval of +/-$2.00 (+/-4.15%) up or down from last closing price. If Perficient takes out the full calculated possible swing range there will be an estimated 8.31% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $48.85 (1.54%) than the support at $47.26 (1.77%), 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.
Earnings coming up
Perficient will release earnings BMO on Monday, May 06, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.770. We will update the financials statements for Perficient, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 9.79% in the first trading day after earnings release.
Is Perficient stock A Buy?
Perficient 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.
Current score: 0.024 Hold/Accumulate Unchanged
Predicted Opening Price for Perficient of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $48.67 ( 1.17%) | $48.11 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PRFT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 50.52 | 5.02 % | |
| R2 | 49.82 | 3.55 % | ||
| R1 | 49.38 | 2.64 % | ||
| Current price: | 48.11 | |||
| Support | S1 | 47.97 | -0.298 % | |
| S2 | 47.53 | -1.21 % | ||
| S3 | 46.82 | -2.67 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 54.52 | 13.32 % | |
| R2 | 53.33 | 10.85 % | ||
| R1 | 48.85 | 1.54 % | ||
| Current price | 48.11 | |||
| Support | S1 | 47.26 | -1.77% | |
| S2 | 47.24 | -1.81% | ||
| S3 | 42.70 | -11.25% |
FAQ
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