PubMatic, Inc. Stock Forecast
PubMatic, Inc. stock price up 1.38% on Friday
(Updated on May 03, 2024)
The PubMatic, Inc. stock price gained 1.38% on the last trading day (Friday, 3rd May 2024), rising from $23.11 to $23.43. 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 2.89% from a day low at $23.07 to a day high of $23.74. The price has risen in 7 of the last 10 days and is up by 8.42% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 94 thousand more shares were traded than the day before. In total, 286 thousand shares were bought and sold for approximately $6.69 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 $22.44 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 42.54% during the next 3 months and, with a 90% probability hold a price between $31.99 and $39.57 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 $22.99 and $23.00. 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). 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 -1.35%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for PubMatic, Inc. stock
PubMatic, Inc. finds support from accumulated volume at $22.98 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 $0.666 between high and low, or 2.89%. For the last week, the stock has had daily average volatility of 3.18%.
Our recommended stop-loss: $22.52 (-3.89%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 30 days ago.)
Trading Expectations (PUBM) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect PubMatic, Inc. to open at $23.41, and during the day (based on 14 day Average True Range), to move between $22.66 and $24.20, which gives a possible trading interval of +/-$0.765 (+/-3.27%) up or down from last closing price. If PubMatic, Inc. takes out the full calculated possible swing range there will be an estimated 6.53% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $23.58 (0.64%) than the support at $22.98 (1.92%), 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.
Earnings coming up
PubMatic, Inc. will release earnings AMC on Tuesday, May 07, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.120. We will update the financials statements for PubMatic, Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.57% in the first trading day after earnings release.
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.
Current score: 4.657 Buy Candidate Unchanged
Predicted Opening Price for PubMatic, Inc. of Monday, May 6, 2024
Fair opening price May 6, 2024 | Current price |
---|---|
$23.41 ( 0.0774%) | $23.43 |
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 | 24.08 | 2.76 % | |
R2 | 23.82 | 1.68 % | ||
R1 | 23.67 | 1.01 % | ||
Current price: | 23.43 | |||
Support | S1 | 23.16 | -1.16 % | |
S2 | 23.00 | -1.83 % | ||
S3 | 22.75 | -2.92 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 23.75 | 1.37 % | |
R2 | 23.72 | 1.24 % | ||
R1 | 23.58 | 0.640 % | ||
Current price | 23.43 | |||
Support | S1 | 22.98 | -1.92% | |
S2 | 21.79 | -7.00% | ||
S3 | 20.48 | -12.59% |
FAQ
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