Presto Automation Inc. Stock Forecast
Red day on Friday for Presto Automation Inc. stock after losing 1.54%
(Updated on May 10, 2024)
The Presto Automation Inc. stock price fell by -1.54% on the last day (Friday, 10th May 2024) from $0.169 to $0.166. During the last trading day the stock fluctuated 7.06% from a day low at $0.163 to a day high of $0.175. The price has fallen in 7 of the last 10 days and is down by -1.72% for this period. Volume has increased on the last day by 104 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, 312 thousand shares were bought and sold for approximately $51.77 thousand.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -25.24% during the next 3 months and, with a 90% probability hold a price between $0.0290 and $0.332 at the end of this 3-month period.
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PRST 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 Presto Automation Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $0.169 and $0.179. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, February 27, 2024, and so far it has fallen -70.88%. Further fall is indicated until a new bottom pivot has been found. Presto Automation 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 Presto Automation Inc. stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $0.0115 between high and low, or 7.06%. For the last week, the stock has had daily average volatility of 5.92%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PRST) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Presto Automation Inc. to open at $0.168, and during the day (based on 14 day Average True Range), to move between $0.148 and $0.184, which gives a possible trading interval of +/-$0.0183 (+/-11.00%) up or down from last closing price. If Presto Automation Inc. takes out the full calculated possible swing range there will be an estimated 22.00% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $0.174, some $0.0080 (4.82%) from the current price of $0.166, our system finds the risk reward not very attractive.
Earnings coming up
Presto Automation Inc. will release earnings BMO on Thursday, May 16, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.200. We will update the financials statements for Presto Automation Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 12.64% in the first trading day after earnings release.
Is Presto Automation Inc. stock A Buy?
Presto Automation Inc. holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -3.181 Sell Candidate Unchanged
Predicted Opening Price for Presto Automation Inc. of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| $0.168 ( 1.10%) | $0.166 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PRST
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.179 | 8.03 % | |
| R2 | 0.175 | 5.39 % | ||
| R1 | 0.172 | 3.75 % | ||
| Current price: | 0.166 | |||
| Support | S1 | 0.163 | -1.54 % | |
| S2 | 0.161 | -3.18 % | ||
| S3 | 0.156 | -5.82 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.196 | 17.77 % | |
| R2 | 0.192 | 15.36 % | ||
| R1 | 0.174 | 4.82 % | ||
| Current price | 0.166 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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