PROG Holdings, Inc. Stock Forecast
A very strong day for PROG Holdings, Inc. stock price on Wednesday
(Updated on Apr 24, 2024)
The PROG Holdings, Inc. stock price gained 8.82% on the last trading day (Wednesday, 24th Apr 2024), rising from $32.77 to $35.66. It has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 8.63% from a day low at $33.14 to a day high of $36.00. The price has been going up and down for this period, and there has been a 10.16% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 24 thousand more shares were traded than the day before. In total, 519 thousand shares were bought and sold for approximately $18.52 million.
The stock has broken the wide and weak rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $34.97, a level that may pose a second chance to hit a runner. According to fan-theory $40.06 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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PRG Signals & Forecast
The PROG Holdings, Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $32.25 and $32.74. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 16.23%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for PROG Holdings, Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $32.26 and $31.85. 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, PROG Holdings, Inc. finds support just below today's level at $32.26. If this is broken, then the next support from accumulated volume will be at $31.85 and $28.61.
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 $2.86 between high and low, or 8.63%. For the last week, the stock has had daily average volatility of 4.70%.
Our recommended stop-loss: $34.34 (-3.70%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (PRG) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect PROG Holdings, Inc. to open at $34.93, and during the day (based on 14 day Average True Range), to move between $34.48 and $36.84, which gives a possible trading interval of +/-$1.18 (+/-3.30%) up or down from last closing price. If PROG Holdings, Inc. takes out the full calculated possible swing range there will be an estimated 6.60% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $32.26, some $3.40 (9.53%) from the current price of $35.66, our system finds the risk reward attractive.
Is PROG Holdings, Inc. stock A Buy?
PROG Holdings, Inc. 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for PROG Holdings, Inc. of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $34.93 ( 2.04%) | $35.66 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PRG
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 37.79 | 5.98 % | |
| R2 | 36.70 | 2.92 % | ||
| R1 | 36.03 | 1.03 % | ||
| Current price: | 35.66 | |||
| Support | S1 | 33.84 | -5.10 % | |
| S2 | 33.17 | -6.99 % | ||
| S3 | 32.07 | -10.06 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 35.66 | |||
| Support | S1 | 32.26 | -9.53% | |
| S2 | 31.85 | -10.68% | ||
| S3 | 28.61 | -19.77% |
PRG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 13, 2024 | Mar 13, 2024 | Mar 28, 2024 | $0.120 | 0.348% |
| 2 | Nov 05, 2020 | Nov 13, 2020 | Nov 20, 2020 | $0.0382 | 0.0606% |
| 3 | Aug 06, 2020 | Sep 16, 2020 | Oct 06, 2020 | $0.0339 | 0.0589% |
| 4 | May 13, 2020 | Jun 17, 2020 | Jul 07, 2020 | $0.0339 | 0.0781% |
| 5 | Feb 25, 2020 | Mar 19, 2020 | Apr 07, 2020 | $0.0339 | 0.148% |
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