RSI low/high Values: [ 25 - 75 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of PRPL
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Purple Innovation Inc. stock price ended at $1.56 on Wednesday, after gaining 4.70%.
(Updated on Mar 27, 2024)

Sell candidate since Mar 22, 2024 Gain 2.63% PDF

The Purple Innovation Inc. stock price gained 4.70% on the last trading day (Wednesday, 27th Mar 2024), rising from $1.49 to $1.56. During the last trading day the stock fluctuated 6.00% from a day low at $1.50 to a day high of $1.59. The price has risen in 6 of the last 10 days but is still down by -6.02% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 627 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $2.17 million.

The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $1.47 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 80.19% during the next 3 months and, with a 90% probability hold a price between $2.66 and $4.28 at the end of this 3-month period.

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PRPL Signals & Forecast

There are mixed signals in the stock today. The Purple Innovation Inc. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $1.59. On a fall, the stock will find some support from the short-term average at $1.54. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Monday, March 04, 2024, and so far it has fallen -25.00%. 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). Volume is rising along with the price. This is considered to be a good technical signal.

Support, Risk & Stop-loss for Purple Innovation Inc. stock

Purple Innovation Inc. finds support from accumulated volume at $1.53 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 $0.0900 between high and low, or 6.00%. For the last week, the stock has had daily average volatility of 7.07%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (PRPL) For The Upcoming Trading Day Of Thursday 28th

For the upcoming trading day on Thursday, 28th we expect Purple Innovation Inc. to open at $1.55, and during the day (based on 14 day Average True Range), to move between $1.39 and $1.73, which gives a possible trading interval of +/-$0.166 (+/-10.63%) up or down from last closing price. If Purple Innovation Inc. takes out the full calculated possible swing range there will be an estimated 21.27% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $1.53 (1.92%) than the resistance at $1.66 (6.41%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Purple Innovation Inc. stock A Buy?

Purple Innovation Inc. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.

Current score: -2.836 Sell Candidate Unchanged

Predicted Opening Price for Purple Innovation Inc. of Thursday, March 28, 2024

Fair opening price March 28, 2024 Current price
$1.55 ( 0.641%) $1.56

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for PRPL

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 1.64 5.13 %
R2 1.61 2.92 %
R1 1.58 1.56 %
Current price: 1.56
Support S1 1.52 -2.84 %
S2 1.49 -4.21 %
S3 1.46 -6.41 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 1.94 24.36 %
R2 1.86 19.23 %
R1 1.66 6.41 %
Current price 1.56
Support S1 1.53 -1.92%
S2 1.50 -3.85%
S3 1.41 -9.62%

PRPL Dividend Payout History


# Declaration Date Ex-Date Pay Date Amount Yield
1 Jul 26, 2023 Apr 27, 2023 May 04, 2023 $0.0010 0.0376%

FAQ

What is the symbol for Purple Innovation Inc. Stock and on which exchange is it traded?
The symbol for Purple Innovation Inc. is PRPL and it is traded on the NASDAQ (NASDAQ Stock Exchange).

Should I buy or sell Purple Innovation Inc. Stock?
Purple Innovation Inc. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.

How to buy Purple Innovation Inc. Stock?
Purple Innovation Inc. Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Purple Innovation Inc. Stock.

What's the current price of Purple Innovation Inc. Stock?
As of the end of day on the 2024-03-27, the price of an Purple Innovation Inc. (PRPL) share was $1.56.

What is the 52-week high and low for Purple Innovation Inc. Stock?
The 52-week high for Purple Innovation Inc. Stock is $3.78 and the 52-week low is $0.545.

What is the market capitalization of Purple Innovation Inc. Stock?
As of the 2024-03-27, the market capitalization of Purple Innovation Inc. is 166.931M.

When is the next earnings date for Purple Innovation Inc.?
The upcoming earnings date for Purple Innovation Inc. is May 08, 2024.
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About Purple Innovation Inc.

Purple Innovation. Purple Innovation, Inc. designs and manufactures mattresses, pillows, and cushions. The company also offers bases, foundations, sheets, mattress protectors, bed frames, seat cushions, weighted blankets, and duvets, as well as pet beds. It markets and sells its products through its e-commerce online channels retail brick-and-mortar wholesale partners, and third-party online retailers, as well as through Purple retail showrooms. The company was fou... PRPL Profile

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