Procaps Group, S.a. Stock Forecast
Big movements in Procaps Group, S.a. stock price on Monday moving 56.25% between high and low
(Updated on Jun 17, 2024)
The Procaps Group, S.a. stock price gained 2.56% on the last trading day (Monday, 17th Jun 2024), rising from $0.0390 to $0.0400. During the last trading day the stock fluctuated 56.25% from a day low at $0.0256 to a day high of $0.0400. The price has risen in 5 of the last 10 days and is up by 50.38% 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, 12 thousand more shares were traded than the day before. In total, 12 thousand shares were bought and sold for approximately $488.04 .
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $0.0425 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -52.59% during the next 3 months and, with a 90% probability hold a price between $0.0050 and $0.0201 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
PROCW Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Procaps Group, S.a. has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Procaps Group, S.a. 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 $0.0405 and $0.0470. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, June 04, 2024, and so far it has fallen -17.70%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Procaps Group, S.a. stock
Procaps Group, S.a. finds support from accumulated volume at $0.0399 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 very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.0144 between high and low, or 56.25%. For the last week, the stock has had daily average volatility of 16.31%.
Our recommended stop-loss: $0.0376 (-6.12%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 7 days ago.)
Trading Expectations (PROCW) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Procaps Group, S.a. to open at $0.0352, and during the day (based on 14 day Average True Range), to move between $0.0294 and $0.0506, which gives a possible trading interval of +/-$0.0106 (+/-26.39%) up or down from last closing price. If Procaps Group, S.a. takes out the full calculated possible swing range there will be an estimated 52.78% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0399 (0.25%) than the resistance at $0.0402 (0.50%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Procaps Group, S.a. stock A Buy?
Procaps Group, S.a. 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 Strong Sell to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Upgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Procaps Group, S.a. of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| $0.0352 ( 12.00%) | $0.0400 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PROCW
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0496 | 24.00% |
| R2 | 0.0441 | 10.25% |
| R1 | 0.0407 | 1.75% |
| Price | 0.0400 | |
| S1 | 0.0297 | -25.75% |
| S2 | 0.0263 | -34.25% |
| S3 | 0.0208 | -48.00% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0470 | 17.50% |
| R2 | 0.0429 | 7.25% |
| R1 | 0.0402 | 0.500% |
| Price | 0.0400 | |
| S1 | 0.0399 | -0.250% |
| S2 | 0.0390 | -2.50% |
| S3 | 0.0380 | -5.00% |
FAQ
Click here for our free guide on how to buy Procaps Group, S.a. Stock.
