Precipio, Inc. Stock Forecast
Precipio, Inc. stock price fell more than -7.53% Friday closing at $6.20
(Updated on Apr 19, 2024)
The Precipio, Inc. stock price fell by -7.53% on the last day (Friday, 19th Apr 2024) from $6.71 to $6.20. During the last trading day the stock fluctuated 7.58% from a day low at $6.20 to a day high of $6.67. The price has risen in 4 of the last 10 days but is still down by -1.9% for this period. Volume has increased on the last day by 2 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, 2 thousand shares were bought and sold for approximately $10.12 thousand.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Precipio, Inc. stock with a 90% probability to be traded between $6.05 and $7.00 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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PRPO Signals & Forecast
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. The Precipio, Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $6.63 and $6.36. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 16, 2024, and so far it has fallen -7.95%. Further fall is indicated until a new bottom pivot has been found. Precipio, Inc. 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 for Precipio, Inc. stock
Precipio, Inc. finds support from accumulated volume at $6.10 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.470 between high and low, or 7.58%. For the last week, the stock has had daily average volatility of 2.29%.
Our recommended stop-loss: $5.87 (-5.34%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 3 days ago.)
Trading Expectations (PRPO) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Precipio, Inc. to open at $6.36, and during the day (based on 14 day Average True Range), to move between $5.94 and $6.46, which gives a possible trading interval of +/-$0.259 (+/-4.18%) up or down from last closing price. If Precipio, Inc. takes out the full calculated possible swing range there will be an estimated 8.35% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $6.10 (1.61%) than the resistance at $6.35 (2.42%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Precipio, Inc. stock A Buy?
Precipio, Inc. 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
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 Precipio, Inc. of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $6.36 ( 2.53%) | $6.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PRPO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.83 | 10.11 % | |
| R2 | 6.65 | 7.21 % | ||
| R1 | 6.54 | 5.42 % | ||
| Current price: | 6.20 | |||
| Support | S1 | 6.18 | -0.369 % | |
| S2 | 6.07 | -2.16 % | ||
| S3 | 5.89 | -5.05 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.70 | 8.06 % | |
| R2 | 6.48 | 4.52 % | ||
| R1 | 6.35 | 2.42 % | ||
| Current price | 6.20 | |||
| Support | S1 | 6.10 | -1.61% | |
| S2 | 6.00 | -3.23% | ||
| S3 | 5.96 | -3.87% |
FAQ
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