Red day on Wednesday for Primerica Inc
(Updated on Nov 29, 2023)
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The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 3.50% during the next 3 months and, with a 90% probability hold a price between $200.24 and $223.43 at the end of this 3-month period.
PRI Signals & Forecast
The Primerica Inc 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 $210.33. On a fall, the stock will find some support from the long-term average at approximately $203.74. 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. 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. A sell signal was issued from a pivot top point on Monday, November 27, 2023, and so far it has fallen -3.11%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Primerica Inc stock
Primerica Inc finds support from accumulated volume at $201.35 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 $4.58 between high and low, or 2.21%. For the last week, the stock has had daily average volatility of 1.77%.
Our recommended stop-loss: $199.40 (-3.98%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (PRI) For The Upcoming Trading Day Of Thursday 30th
For the upcoming trading day on Thursday, 30th we expect Primerica Inc to open at $208.96, and during the day (based on 14 day Average True Range), to move between $203.60 and $211.74, which gives a possible trading interval of +/-$4.07 (+/-1.96%) up or down from last closing price. If Primerica Inc takes out the full calculated possible swing range there will be an estimated 3.92% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $207.89 (0.11%) than the support at $201.35 (3.04%), 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 Primerica Inc stock A Buy?
Primerica 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.
Current score: -0.144 Open Broker AccountHold/Accumulate Unchanged
Predicted Opening Price for Primerica Inc of Thursday, November 30, 2023
The predicted opening price is based on yesterday's movements between high, low, and closing price.
|Fair opening price November 30, 2023||Current price|
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Fibonacci Support & Resistance Levels
Accumulated Volume Support & Resistance Levels
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