Prosus N.V. 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
Prosus N.V. stock price ended at $7.83 on Friday, after losing 1.39%.
(Updated on May 17, 2024)
The Prosus N.V. stock price fell by -1.39% on the last day (Friday, 17th May 2024) from $7.94 to $7.83. During the last trading day the stock fluctuated 1.62% from a day low at $7.72 to a day high of $7.84. The price has risen in 6 of the last 10 days and is up by 8.9% over the past 2 weeks. Volume has increased on the last day by 2 million 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, 4 million shares were bought and sold for approximately $30.96 million.
The stock lies in the upper part of a wide and strong rising 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 $7.97 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 28.38% during the next 3 months and, with a 90% probability hold a price between $8.58 and $10.23 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
PROSY Signals & Forecast
The Prosus N.V. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $7.64 and $6.78. A breakdown below any of these levels will issue sell signals. 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 Thursday, May 16, 2024, and so far it has fallen -1.39%. 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 Prosus N.V. stock
On the downside, the stock finds support just below today's level from accumulated volume at $6.67 and $6.44. 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, Prosus N.V. finds support just below today's level at $6.67. If this is broken, then the next support from accumulated volume will be at $6.44 and $6.08.
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 $0.125 between high and low, or 1.62%. For the last week, the stock has had daily average volatility of 1.45%.
The Prosus N.V. stock is overbought on RSI14 and the RSI has been falling for the last couple of days. This together with the fact that the stock is in the upper part of the trend poses a possible good selling opportunity for the short-term trader. However, one should note that some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: $7.61 (-2.85%) (This stock has high daily movements and this gives high risk. The RSI14 is 84 and this increases the risk substantially. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (PROSY) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Prosus N.V. to open at $7.80, and during the day (based on 14 day Average True Range), to move between $7.65 and $8.01, which gives a possible trading interval of +/-$0.175 (+/-2.24%) up or down from last closing price. If Prosus N.V. takes out the full calculated possible swing range there will be an estimated 4.47% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $7.85 (0.26%) than the support at $6.67 (14.81%), 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 Prosus N.V. stock A Buy?
Prosus N.V. 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: 0.884 Hold/Accumulate Unchanged
Predicted Opening Price for Prosus N.V. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $7.80 ( 0.447%) | $7.83 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PROSY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.92 | 1.15 % | |
| R2 | 7.87 | 0.540 % | ||
| R1 | 7.84 | 0.163 % | ||
| Current price: | 7.83 | |||
| Support | S1 | 7.75 | -1.06 % | |
| S2 | 7.72 | -1.43 % | ||
| S3 | 7.67 | -2.04 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 7.94 | 1.40 % | ||
| R1 | 7.85 | 0.255 % | ||
| Current price | 7.83 | |||
| Support | S1 | 6.67 | -14.81% | |
| S2 | 6.44 | -17.75% | ||
| S3 | 6.08 | -22.35% |
PROSY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Nov 02, 2023 | Nov 02, 2023 | Nov 02, 2023 | $0.0148 | 0.259% |
| 2 | Oct 01, 2021 | Sep 01, 2022 | Oct 13, 2022 | $0.0280 | 0.615% |
| 3 | Oct 20, 2021 | Oct 28, 2021 | Dec 03, 2021 | $0.0315 | 0.433% |
| 4 | Oct 22, 2020 | Oct 22, 2020 | Oct 22, 2020 | $0.0260 | 0.298% |
FAQ
Click here for our free guide on how to buy Prosus N.V. Stock.
