PubMatic, Inc. Stock Forecast
PubMatic, Inc. stock upgraded from Sell Candidate to Buy Candidate after Tuesday trading session.
(Updated on Apr 23, 2024)
The PubMatic, Inc. stock price gained 3.02% on the last trading day (Tuesday, 23rd Apr 2024), rising from $22.17 to $22.84. It has now gained 3 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 3.54% from a day low at $22.32 to a day high of $23.11. The price has been going up and down for this period, and there has been a -3.38% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 102 thousand more shares were traded than the day before. In total, 313 thousand shares were bought and sold for approximately $7.15 million.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $21.94 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 58.83% during the next 3 months and, with a 90% probability hold a price between $34.84 and $43.43 at the end of this 3-month period.
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PUBM Signals & Forecast
The PubMatic, 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 $21.88 and $22.63. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. 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, March 21, 2024, and so far it has fallen -3.83%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for PubMatic, Inc. stock
PubMatic, Inc. finds support from accumulated volume at $21.79 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.790 between high and low, or 3.54%. For the last week, the stock has had daily average volatility of 2.90%.
Our recommended stop-loss: $21.86 (-4.29%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 22 days ago.)
Trading Expectations (PUBM) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect PubMatic, Inc. to open at $22.76, and during the day (based on 14 day Average True Range), to move between $22.05 and $23.63, which gives a possible trading interval of +/-$0.789 (+/-3.46%) up or down from last closing price. If PubMatic, Inc. takes out the full calculated possible swing range there will be an estimated 6.91% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $22.90 (0.26%) than the support at $21.79 (4.60%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is PubMatic, Inc. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for PubMatic, Inc. stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 1.574 Buy Candidate Upgraded
Predicted Opening Price for PubMatic, Inc. of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $22.76 ( 0.365%) | $22.84 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PUBM
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 23.55 | 3.09 % | |
| R2 | 23.24 | 1.77 % | ||
| R1 | 23.06 | 0.96 % | ||
| Current price: | 22.84 | |||
| Support | S1 | 22.45 | -1.69 % | |
| S2 | 22.27 | -2.50 % | ||
| S3 | 21.97 | -3.82 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 23.58 | 3.24 % | |
| R2 | 22.98 | 0.613 % | ||
| R1 | 22.90 | 0.263 % | ||
| Current price | 22.84 | |||
| Support | S1 | 21.79 | -4.60% | |
| S2 | 20.48 | -10.33% | ||
| S3 | 19.18 | -16.02% |
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