PainReform Ltd. Stock Forecast
Big movements in PainReform Ltd. stock price on Friday moving 11.25% between high and low
(Updated on Apr 19, 2024)
The PainReform Ltd. stock price fell by -1.35% on the last day (Friday, 19th Apr 2024) from $0.89 to $0.88. During the last trading day the stock fluctuated 11.25% from a day low at $0.80 to a day high of $0.89. The price has fallen in 8 of the last 10 days and is down by -48.35% for this period. 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 -9 thousand shares and in total, 29 thousand shares were bought and sold for approximately $25.67 thousand.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.767 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -32.80% during the next 3 months and, with a 90% probability hold a price between $0.515 and $1.22 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
PRFX Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 8.40%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The PainReform Ltd. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $0.97 and $1.69. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for PainReform Ltd. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.81. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $ may give a huge drop in the stock price.
This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.0900 between high and low, or 11.25%. For the last week the stock has had daily average volatility of 18.26%.
PainReform Ltd. is oversold on RSI14 (17). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PRFX) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect PainReform Ltd. to open at $0.86, and during the day (based on 14 day Average True Range), to move between $0.661 and $1.09, which gives a possible trading interval of +/-$0.217 (+/-24.69%) up or down from last closing price. If PainReform Ltd. takes out the full calculated possible swing range there will be an estimated 49.37% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.89 (1.37%) than the support at $0.81 (7.74%), 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 PainReform Ltd. stock A Buy?
PainReform Ltd. holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -4.099 Sell Candidate Unchanged
Predicted Opening Price for PainReform Ltd. of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $0.86 ( 2.51%) | $0.88 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PRFX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.95 | 7.74 % | |
| R2 | 0.91 | 3.83 % | ||
| R1 | 0.89 | 1.41 % | ||
| Current price: | 0.88 | |||
| Support | S1 | 0.82 | -6.42 % | |
| S2 | 0.80 | -8.84 % | ||
| S3 | 0.766 | -12.76 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.98 | 11.72 % | |
| R2 | 0.91 | 3.75 % | ||
| R1 | 0.89 | 1.37 % | ||
| Current price | 0.88 | |||
| Support | S1 | 0.81 | -7.74% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
Click here for our free guide on how to buy PainReform Ltd. Stock.
