Primoris Services Corp Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Primoris Services Corp stock upgraded to Hold/Accumulate.
(Updated on May 01, 2024)
The Primoris Services Corp stock price fell by -2.35% on the last day (Wednesday, 1st May 2024) from £4.25 to £4.15. During the last trading day the stock fluctuated 3.75% from a day low at £4.00 to a day high of £4.15. The price has fallen in 4 of the last 10 days and is down by -7.78% for this period. Volume has increased on the last day by 41 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, 50 thousand shares were bought and sold for approximately £207.50 thousand.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Primoris Services Corp stock with a 90% probability to be traded between £3.66 and £5.79 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
PRIM.L Signals & Forecast
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 Primoris Services Corp stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at £4.27 and £4.65. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, April 18, 2024, and so far it has fallen -17.00%. Further fall is indicated until a new bottom pivot has been found. Primoris Services Corp 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".
Support, Risk & Stop-loss for Primoris Services Corp stock
Primoris Services Corp finds support from accumulated volume at £4.10 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 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 £0.150 between high and low, or 3.75%. For the last week, the stock has had daily average volatility of 7.97%.
Our recommended stop-loss: £3.94 (-5.08%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 9 days ago.)
Trading Expectations (PRIM.L) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Primoris Services Corp to open at £4.10, and during the day (based on 14 day Average True Range), to move between £3.53 and £4.77, which gives a possible trading interval of +/-£0.622 (+/-14.99%) up or down from last closing price. If Primoris Services Corp takes out the full calculated possible swing range there will be an estimated 29.98% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £4.10 (1.20%) than the resistance at £4.25 (2.41%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Primoris Services Corp stock A Buy?
Primoris Services Corp holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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: -0.546 Hold/Accumulate Upgraded
Predicted Opening Price for Primoris Services Corp of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| £4.10 ( 1.20%) | £4.15 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PRIM.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.25 | 2.41 % | |
| R2 | 4.19 | 1.03 % | ||
| R1 | 4.16 | 0.176 % | ||
| Current price: | 4.15 | |||
| Support | S1 | 4.04 | -2.59 % | |
| S2 | 4.01 | -3.44 % | ||
| S3 | 3.95 | -4.82 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.00 | 20.48 % | |
| R2 | 4.35 | 4.82 % | ||
| R1 | 4.25 | 2.41 % | ||
| Current price | 4.15 | |||
| Support | S1 | 4.10 | -1.20% | |
| S2 | 4.00 | -3.61% | ||
| S3 | 3.90 | -6.02% |
PRIM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 28, 2024 | Mar 28, 2024 | Apr 10, 2024 | £0.0150 | 0.333% |
| 2 | Mar 21, 2024 | Mar 21, 2024 | Apr 10, 2024 | £0.0150 | 0.333% |
| 3 | Mar 18, 2003 | Apr 23, 2003 | May 20, 2003 | £20.00 | 1.36% |
FAQ
Click here for our free guide on how to buy Primoris Services Corp Stock.
