Peraso, Inc. Stock Forecast
High volatility in Peraso, Inc. stock price on Thursday which ended trading at $1.62
(Updated on Mar 28, 2024)
The Peraso, Inc. stock price gained 11.72% on the last trading day (Thursday, 28th Mar 2024), rising from $1.45 to $1.62. During the last trading day the stock fluctuated 15.60% from a day low at $1.41 to a day high of $1.63. The price has been going up and down for this period, and there has been a -4.66% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 343 thousand more shares were traded than the day before. In total, 401 thousand shares were bought and sold for approximately $649.06 thousand.
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 $2.71 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Due to the high volatility and the trend direction we are not able to give forecast range for this stock. 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.
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PRSO Signals & Forecast
The Peraso, 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 $1.46 and $1.62. A breakdown below any of these levels will issue sell signals. Peraso, Inc. 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. Higher liquidity also reduces the general risk. 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 Wednesday, January 03, 2024, and so far it has fallen -79.83%. 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).
Support, Risk & Stop-loss for Peraso, Inc. stock
Peraso, Inc. finds support from accumulated volume at $1.57 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 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 $0.220 between high and low, or 15.60%. For the last week, the stock has had daily average volatility of 7.72%.
Our recommended stop-loss: $1.52 (-6.14%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 59 days ago.)
Trading Expectations (PRSO) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Peraso, Inc. to open at $1.55, and during the day (based on 14 day Average True Range), to move between $1.40 and $1.84, which gives a possible trading interval of +/-$0.220 (+/-13.58%) up or down from last closing price. If Peraso, Inc. takes out the full calculated possible swing range there will be an estimated 27.16% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.67 (3.04%) than the support at $1.57 (3.09%), 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 Peraso, Inc. stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 1.034 Buy Candidate Upgraded
Predicted Opening Price for Peraso, Inc. of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$1.55 ( 4.12%) | $1.62 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PRSO
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1.77 | 9.47 % | |
R2 | 1.69 | 4.28 % | ||
R1 | 1.64 | 1.07 % | ||
Current price: | 1.62 | |||
Support | S1 | 1.47 | -9.30 % | |
S2 | 1.42 | -12.51 % | ||
S3 | 1.33 | -17.70 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1.83 | 12.96 % | |
R2 | 1.75 | 8.02 % | ||
R1 | 1.67 | 3.04 % | ||
Current price | 1.62 | |||
Support | S1 | 1.57 | -3.09% | |
S2 | 1.53 | -5.56% | ||
S3 | 1.48 | -8.64% |
FAQ
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