Is ParkerVision stock still a buy after falling -5.56% on Monday ?
(Updated on Sep 26, 2022)
Sell candidate since 2022-09-21 Loss -2.86% PDF
The ParkerVision stock price fell by -5.56% on the last day (Monday, 26th Sep 2022) from $0.18 to $0.17. During the last trading day the stock fluctuated 1.00% from a day low at $0.17 to a day high of $0.17. The price has fallen in 5 of the last 10 days and is down by -10.57% for this period. Volume has increased on the last day by 8 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, 32 thousand shares were bought and sold for approximately $5.44 thousand.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -4.34% during the next 3 months and, with a 90% probability hold a price between $0.13 and $0.27 at the end of this 3-month period.
Signals & Forecast
There are few to no technical positive signals at the moment. The ParkerVision 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 $0.18 and $0.19. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, August 25, 2022, and so far it has fallen -22.88%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). ParkerVision 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". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss
On the downside, the stock finds support just below today's level from accumulated volume at $0.16 and $0.15. 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, ParkerVision finds support just below today's level at $0.16. If this is broken, then the next support from accumulated volume will be at $0.15 and $0.15.
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 $0.0017 between high and low, or 1.00%. For the last week, the stock has had daily average volatility of 9.14%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations For The Upcoming Trading Day Of Tuesday 27th
For the upcoming trading day on Tuesday, 27th we expect ParkerVision to open at $0.17, and during the day (based on 14 day Average True Range), to move between $0.15 and $0.19, which gives a possible trading interval of +/-$0.0236 (+/-13.91%) up or down from last closing price. If ParkerVision takes out the full calculated possible swing range there will be an estimated 27.81% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.17 (0.53%) than the support at $0.16 (5.59%), 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 ParkerVision stock A Buy?
ParkerVision holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -2.711Sell Candidate Unchanged
Predicted Opening Price for ParkerVision of Tuesday, September 27, 2022
The predicted opening price is based on yesterday's movements between high, low, and closing price.
|Fair opening price September 27, 2022||Current price|
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ParkerVision, Inc. develops and markets radio frequency technologies and integrated circuits for use in wireless communication products. The company was incorporated in 1989 and is headquartered in Jacksonville, Florida.... PRKR Profile
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featured in The Global Fintech Index 2020 as the top Fintech company of the country.