Priority Technology Holdings Inc. Stock Forecast
Weaker technical forecast for Priority Technology Holdings Inc. as stock downgraded to Sell Candidate.
(Updated on Mar 28, 2024)
The Priority Technology Holdings Inc. stock price fell by -1.51% on the last day (Thursday, 28th Mar 2024) from $3.32 to $3.27. During the last trading day the stock fluctuated 1.07% from a day low at $3.27 to a day high of $3.31. The price has been going up and down for this period, and there has been a 4.14% gain for the last 2 weeks. Volume has increased on the last day by 70 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, 117 thousand shares were bought and sold for approximately $382.31 thousand.
The stockhas broken the wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $3.24, a level that may pose a second chance to hit a runner. According to fan-theory $3.64 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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PRTH Signals & Forecast
The Priority Technology Holdings Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $3.23 and $3.22. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Thursday, February 15, 2024, and so far it has fallen -5.49%. Further fall is indicated until a new bottom pivot has been found. Priority Technology Holdings 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 stock had a Golden Star Signal on Friday, March 22, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star
The stock had a Golden Star Signal on Friday, March 22, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Priority Technology Holdings Inc. stock
Priority Technology Holdings Inc. finds support from accumulated volume at $3.25 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.0350 (1.07%) between high and low. For the last week, the stock has had daily average volatility of 2.46%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PRTH) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Priority Technology Holdings Inc. to open at $3.28, and during the day (based on 14 day Average True Range), to move between $3.11 and $3.43, which gives a possible trading interval of +/-$0.164 (+/-5.02%) up or down from last closing price. If Priority Technology Holdings Inc. takes out the full calculated possible swing range there will be an estimated 10.04% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $3.25 (0.61%) than the resistance at $3.31 (1.22%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Priority Technology Holdings Inc. stock A Buy?
Priority Technology Holdings 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. 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 Sell candidate.
Current score: -1.905 Sell Candidate Downgraded
Predicted Opening Price for Priority Technology Holdings Inc. of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$3.28 ( 0.357%) | $3.27 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PRTH
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 3.32 | 1.43 % | |
R2 | 3.30 | 1.02 % | ||
R1 | 3.30 | 0.766 % | ||
Current price: | 3.27 | |||
Support | S1 | 3.27 | -0.0521 % | |
S2 | 3.26 | -0.305 % | ||
S3 | 3.25 | -0.714 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 3.55 | 8.56 % | |
R2 | 3.35 | 2.45 % | ||
R1 | 3.31 | 1.22 % | ||
Current price | 3.27 | |||
Support | S1 | 3.25 | -0.612% | |
S2 | 3.15 | -3.67% | ||
S3 | 3.13 | -4.28% |
FAQ
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