Perrigo Company plc Stock Forecast
Perrigo Company plc stock upgraded to Hold/Accumulate.
(Updated on Mar 27, 2024)
The Perrigo Company plc stock price gained 2.14% on the last trading day (Wednesday, 27th Mar 2024), rising from $30.80 to $31.46. During the last trading day the stock fluctuated 2.14% from a day low at $30.86 to a day high of $31.52. The price has fallen in 6 of the last 10 days but is still up by 1.42% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 43 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $38.42 million.
The stockhas broken the wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $31.30, a level that may pose a second chance to hit a runner. According to fan-theory $37.56 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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PRGO Signals & Forecast
The Perrigo Company plc 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 $31.10 and $30.43. 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). 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. A sell signal was issued from a pivot top point on Thursday, March 21, 2024, and so far it has fallen -0.380%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Perrigo Company plc stock
On the downside, the stock finds support just below today's level from accumulated volume at $27.30 and $26.41. 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, Perrigo Company plc finds support just below today's level at $27.30. If this is broken, then the next support from accumulated volume will be at $26.41 and $26.33.
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 $0.660 between high and low, or 2.14%. For the last week, the stock has had daily average volatility of 1.98%.
Our recommended stop-loss: $30.26 (-3.80%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 4 days ago.)
Trading Expectations (PRGO) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Perrigo Company plc to open at $31.28, and during the day (based on 14 day Average True Range), to move between $30.60 and $32.32, which gives a possible trading interval of +/-$0.86 (+/-2.73%) up or down from last closing price. If Perrigo Company plc takes out the full calculated possible swing range there will be an estimated 5.47% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $32.15 (2.19%) than the support at $27.30 (13.22%), 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 Perrigo Company plc stock A Buy?
Perrigo Company plc 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.457 Hold/Accumulate Upgraded
Predicted Opening Price for Perrigo Company plc of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$31.28 ( 0.572%) | $31.46 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PRGO
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 31.94 | 1.53 % | |
R2 | 31.69 | 0.724 % | ||
R1 | 31.53 | 0.229 % | ||
Current price: | 31.46 | |||
Support | S1 | 31.03 | -1.37 % | |
S2 | 30.87 | -1.87 % | ||
S3 | 30.62 | -2.67 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 33.17 | 5.44 % | |
R2 | 32.28 | 2.61 % | ||
R1 | 32.15 | 2.19 % | ||
Current price | 31.46 | |||
Support | S1 | 27.30 | -13.22% | |
S2 | 26.41 | -16.05% | ||
S3 | 26.33 | -16.31% |
PRGO Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 26, 2024 | Mar 07, 2024 | Mar 26, 2024 | $0.276 | 0.90% |
2 | Nov 02, 2023 | Nov 30, 2023 | Dec 19, 2023 | $0.270 | 0.88% |
3 | Aug 02, 2023 | Aug 31, 2023 | Sep 19, 2023 | $0.273 | 0.81% |
4 | May 04, 2023 | Jun 01, 2023 | Jun 20, 2023 | $0.273 | 0.81% |
5 | Feb 21, 2023 | Mar 09, 2023 | Mar 28, 2023 | $0.273 | 0.789% |
FAQ
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