PainReform Ltd. Stock Forecast
Red day on Thursday for PainReform Ltd.
(Updated on May 02, 2024)
The PainReform Ltd. stock price fell by -2.64% on the last day (Thursday, 2nd May 2024) from $0.94 to $0.92. During the last trading day the stock fluctuated 9.10% from a day low at $0.87 to a day high of $0.95. The price has fallen in 6 of the last 10 days but is still up by 3.37% over the past 2 weeks. Volume has increased on the last day by 15 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, 25 thousand shares were bought and sold for approximately $22.75 thousand.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -51.31% during the next 3 months and, with a 90% probability hold a price between $0.259 and $0.655 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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PRFX Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 13.58%. 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 PainReform Ltd. 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 $1.39. On a fall, the stock will find some support from the short-term average at $0.88. 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. PainReform Ltd. 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". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for PainReform Ltd. stock
PainReform Ltd. finds support from accumulated volume at $0.91 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 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 $0.0792 between high and low, or 9.10%. For the last week, the stock has had daily average volatility of 10.43%.
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 Friday 3rd
For the upcoming trading day on Friday, 3rd we expect PainReform Ltd. to open at $0.91, and during the day (based on 14 day Average True Range), to move between $0.772 and $1.07, which gives a possible trading interval of +/-$0.148 (+/-16.14%) up or down from last closing price. If PainReform Ltd. takes out the full calculated possible swing range there will be an estimated 32.28% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.92 (0.38%) than the support at $0.91 (0.99%), 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 we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -2.720 Sell Candidate Unchanged
Predicted Opening Price for PainReform Ltd. of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $0.91 ( 0.696%) | $0.92 |
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 | 0.99 | 7.91 % | |
| R2 | 0.96 | 4.62 % | ||
| R1 | 0.94 | 2.59 % | ||
| Current price: | 0.92 | |||
| Support | S1 | 0.88 | -3.98 % | |
| S2 | 0.86 | -6.02 % | ||
| S3 | 0.83 | -9.30 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.10 | 19.67 % | |
| R2 | 0.98 | 6.62 % | ||
| R1 | 0.92 | 0.380 % | ||
| Current price | 0.92 | |||
| Support | S1 | 0.91 | -0.99% | |
| S2 | 0.89 | -3.11% | ||
| S3 | 0.81 | -11.96% |
FAQ
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