Prosus N.V. Stock Forecast

Prosus N.V. stock price up 1.02% on Thursday
(Updated on May 16, 2024)

PRX.AS Signals & Forecast

Mostly positive signals in the chart today. The Prosus N.V. 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 34.90€ and 31.14€. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, March 05, 2024, and so far it has risen 41.03%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.

Support, Risk & Stop-loss for Prosus N.V. stock

Prosus N.V. finds support from accumulated volume at 35.86€ 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 0.715€ between high and low, or 1.99%. For the last week, the stock has had daily average volatility of 2.63%.

The Prosus N.V. stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs. Since the Prosus N.V. has been rising for 6 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.

Our recommended stop-loss: 35.45€ (-3.20%) (This stock has high daily movements and this gives high risk. The RSI14 is 90 and this increases the risk substantially. There is a buy signal from a pivot bottom found 49 days ago.)

Trading Expectations (PRX.AS) For The Upcoming Trading Day Of Friday 17th

For the upcoming trading day on Friday, 17th we expect Prosus N.V. to open at 36.39€, and during the day (based on 14 day Average True Range), to move between 35.81€ and 37.44€, which gives a possible trading interval of +/-0.81€ (+/-2.21%) up or down from last closing price. If Prosus N.V. takes out the full calculated possible swing range there will be an estimated 4.43% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ 35.86€, some 0.765€ (2.09%) from the current price of 36.63€, our system finds the risk reward attractive.

Is Prosus N.V. stock A Buy?

Prosus N.V. holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.

Current score: 7.031 Strong Buy Candidate Unchanged

Predicted Opening Price for Prosus N.V. of Friday, May 17, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.