Parazero Technologies Ltd. Stock Forecast
Strong day for Parazero Technologies Ltd. stock price on Friday rising 7.50% to $0.688
(Updated on Jun 28, 2024)
The Parazero Technologies Ltd. stock price gained 7.50% on the last trading day (Friday, 28th Jun 2024), rising from $0.640 to $0.688. It has now gained 6 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 9.22% from a day low at $0.640 to a day high of $0.699. The price has risen in 8 of the last 10 days and is up by 14.65% over the past 2 weeks. Volume fell on the last day by -104 thousand shares and in total, 196 thousand shares were bought and sold for approximately $134.96 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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 -15.26% during the next 3 months and, with a 90% probability hold a price between $0.485 and $0.82 at the end of this 3-month period.
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PRZO Signals & Forecast
The Parazero Technologies Ltd. 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 $0.616 and $0.660. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, June 20, 2024, and so far it has risen 16.89%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for Parazero Technologies Ltd. stock
Parazero Technologies Ltd. finds support from accumulated volume at $0.670 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0590 between high and low, or 9.22%. For the last week the stock has had daily average volatility of 7.37%.
Since the Parazero Technologies Ltd. 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: $0.667 (-3.12%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 52 days ago.)
Trading Expectations (PRZO) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Parazero Technologies Ltd. to open at $0.676, and during the day (based on 14 day Average True Range), to move between $0.645 and $0.731, which gives a possible trading interval of +/-$0.0431 (+/-6.27%) up or down from last closing price. If Parazero Technologies Ltd. takes out the full calculated possible swing range there will be an estimated 12.54% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.670 (2.62%) than the resistance at $0.780 (13.37%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Parazero Technologies Ltd. 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 Hold/Accumulate to a Buy candidate.
Current score: 4.176 Buy Candidate Upgraded
Predicted Opening Price for Parazero Technologies Ltd. of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $0.676 ( 1.79%) | $0.688 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PRZO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.735 | 6.78% |
| R2 | 0.712 | 3.51% |
| R1 | 0.698 | 1.48% |
| Price | 0.688 | |
| S1 | 0.653 | -5.07% |
| S2 | 0.639 | -7.09% |
| S3 | 0.617 | -10.37% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.86 | 24.88% |
| R2 | 0.81 | 17.43% |
| R1 | 0.780 | 13.37% |
| Price | 0.688 | |
| S1 | 0.670 | -2.62% |
| S2 | 0.650 | -5.52% |
| S3 | 0.640 | -6.98% |
FAQ
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