Personalis Inc. Stock Forecast
High volatility in Personalis Inc. stock price on Wednesday which ended trading at $1.55
(Updated on May 01, 2024)
The Personalis Inc. stock price gained 5.44% on the last trading day (Wednesday, 1st May 2024), rising from $1.47 to $1.55. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 12.37% from a day low at $1.42 to a day high of $1.59. The price has risen in 7 of the last 10 days and is up by 29.17% over the past 2 weeks. Volume fell on the last day by -71 thousand shares and in total, 236 thousand shares were bought and sold for approximately $366.56 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 is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Personalis Inc. stock with a 90% probability to be traded between $1.20 and $1.75 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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PSNL Signals & Forecast
The Personalis 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 $1.37 and $1.41. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 29.17%. 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 Personalis Inc. stock
Personalis Inc. finds support from accumulated volume at $1.51 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 $0.175 between high and low, or 12.37%. For the last week the stock has had daily average volatility of 9.60%.
Our recommended stop-loss: $1.50 (-3.28%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 10 days ago.)
Trading Expectations (PSNL) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Personalis Inc. to open at $1.52, and during the day (based on 14 day Average True Range), to move between $1.44 and $1.66, which gives a possible trading interval of +/-$0.110 (+/-7.08%) up or down from last closing price. If Personalis Inc. takes out the full calculated possible swing range there will be an estimated 14.15% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.51 (2.58%) than the resistance at $1.68 (8.39%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Personalis Inc. will release earnings AMC on Wednesday, May 08, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.440. We will update the financials statements for Personalis Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 9.48% in the first trading day after earnings release.
Is Personalis Inc. stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Personalis Inc. stock to perform well in the short-term period.
Current score: 3.050 Buy Candidate Unchanged
Predicted Opening Price for Personalis Inc. of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $1.52 ( 2.04%) | $1.55 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PSNL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.69 | 9.25 % | |
| R2 | 1.63 | 4.93 % | ||
| R1 | 1.59 | 2.27 % | ||
| Current price: | 1.55 | |||
| Support | S1 | 1.45 | -6.36 % | |
| S2 | 1.41 | -9.02 % | ||
| S3 | 1.34 | -13.33 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.74 | 12.26 % | |
| R2 | 1.69 | 9.03 % | ||
| R1 | 1.68 | 8.39 % | ||
| Current price | 1.55 | |||
| Support | S1 | 1.51 | -2.58% | |
| S2 | 1.50 | -3.23% | ||
| S3 | 1.24 | -20.00% |
FAQ
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