Perrigo Company plc Stock Forecast

PRGO Signals & Forecast

The Perrigo Company plc stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $30.51. On a fall, the stock will find some support from the long-term average at approximately $29.32. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. A buy signal was issued from a pivot bottom point on Friday, October 27, 2023, and so far it has risen 12.45%. 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. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

Get your hands on a piece of history – invest in multi-million dollar paintings from $10k with Masterworks.

Support, Risk & Stop-loss for Perrigo Company plc stock

Perrigo Company plc finds support from accumulated volume at $30.16 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

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 $0.476 between high and low, or 1.58%. For the last week, the stock has had daily average volatility of 2.08%.

Our recommended stop-loss: $29.03 (-4.32%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 22 days ago.)

Trading Expectations (PRGO) For The Upcoming Trading Day Of Thursday 30th

For the upcoming trading day on Thursday, 30th we expect Perrigo Company plc to open at $30.34, and during the day (based on 14 day Average True Range), to move between $29.42 and $31.26, which gives a possible trading interval of +/-$0.92 (+/-3.02%) up or down from last closing price. If Perrigo Company plc takes out the full calculated possible swing range there will be an estimated 6.05% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $30.16 (0.59%) than the resistance at $30.87 (1.75%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

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. 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: -0.738 Open Broker Account

Remember To Visit Our YouTube Channel