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
Powered by GPT-4
Upgraded!
Stock Analysis
Risk Assessment
Trading Strategy

Big movements in Purple Innovation Inc. stock price on Thursday moving 14.56% between high and low
(Updated on Mar 28, 2024)

Buy candidate since Mar 28, 2024 PDF

The Purple Innovation Inc. stock price gained 11.54% on the last trading day (Thursday, 28th Mar 2024), rising from $1.56 to $1.74. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 14.56% from a day low at $1.58 to a day high of $1.81. The price has risen in 7 of the last 10 days and is up by 16% over the past 2 weeks. Volume fell on the last day by -55 thousand shares and in total, 1 million shares were bought and sold for approximately $2.32 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.

The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 81.10% during the next 3 months and, with a 90% probability hold a price between $2.70 and $4.34 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.

PRPL Signals & Forecast

A sell signal was issued from a pivot top point on Monday, March 04, 2024, and so far it has fallen -16.35%. 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). Some positive signals were issued as well, and these may have some influence on the near short-term development. The Purple Innovation Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $1.57 and $1.61. A breakdown below any of these levels will issue sell signals. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.

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

Purple Innovation Inc. finds support from accumulated volume at $1.66 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 $0.230 between high and low, or 14.56%. For the last week, the stock has had daily average volatility of 9.00%.

Our recommended stop-loss: $1.66 (-4.31%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 18 days ago.)

Trading Expectations (PRPL) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Purple Innovation Inc. to open at $1.71, and during the day (based on 14 day Average True Range), to move between $1.57 and $1.91, which gives a possible trading interval of +/-$0.172 (+/-9.88%) up or down from last closing price. If Purple Innovation Inc. takes out the full calculated possible swing range there will be an estimated 19.76% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $1.66 (4.60%) than the resistance at $1.96 (12.64%), 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?

Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.

Current score: 1.664 Buy Candidate Upgraded

Predicted Opening Price for Purple Innovation Inc. of Monday, April 1, 2024

Fair opening price April 1, 2024 Current price
$1.71 ( 1.72%) $1.74

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 1.94 11.49 %
R2 1.85 6.44 %
R1 1.80 3.33 %
Current price: 1.74
Support S1 1.62 -6.77 %
S2 1.57 -9.89 %
S3 1.48 -14.94 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 2.08 19.54 %
R2 2.06 18.39 %
R1 1.96 12.64 %
Current price 1.74
Support S1 1.66 -4.60%
S2 1.56 -10.34%
S3 1.50 -13.79%

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?
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.

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 2024-03-28, the price of an Purple Innovation Inc. (PRPL) share was $1.74.

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 2024-03-28, the market capitalization of Purple Innovation Inc. is 186.192M.

When is the next earnings date for Purple Innovation Inc.?
The upcoming earnings date for Purple Innovation Inc. is May 08, 2024.
Click to get the best stock tips daily for free!

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

Top Fintech Company

StockInvest.us featured in The Global Fintech Index 2020 as the top Fintech company of the country.

Full report by FINDEXABLE

ROCKIT