PURE Bioscience, Inc. Stock Forecast
Volatile ride for PURE Bioscience, Inc. stock price on Friday moving between $0.0710 and $0.0989
(Updated on May 10, 2024)
The PURE Bioscience, Inc. stock price gained 33.65% on the last trading day (Friday, 10th May 2024), rising from $0.0740 to $0.0989. During the last trading day the stock fluctuated 39.30% from a day low at $0.0710 to a day high of $0.0989. The price has risen in 4 of the last 10 days and is up by 39.3% over the past 2 weeks. Volume fell on the last day by -361 shares and in total, 23 thousand shares were bought and sold for approximately $2.31 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.
Given the current short-term trend, the stock is expected to fall -25.28% during the next 3 months and, with a 90% probability hold a price between $0.0428 and $0.0739 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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PURE Signals & Forecast
The PURE Bioscience, Inc. 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 $0.0795 and $0.0794. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 47.61%. 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 not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for PURE Bioscience, Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0900 and $0.0800. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, PURE Bioscience, Inc. finds support just below today's level at $0.0900. If this is broken, then the next support from accumulated volume will be at $0.0800 and $0.0760.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0279 between high and low, or 39.30%. For the last week the stock has had daily average volatility of 11.31%.
Our recommended stop-loss: $0.0956 (-3.36%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 18 days ago.)
Trading Expectations (PURE) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect PURE Bioscience, Inc. to open at $0.0896, and during the day (based on 14 day Average True Range), to move between $0.0904 and $0.107, which gives a possible trading interval of +/-$0.0085 (+/-8.59%) up or down from last closing price. If PURE Bioscience, Inc. takes out the full calculated possible swing range there will be an estimated 17.17% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0990 (0.10%) than the support at $0.0900 (9.00%), 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 PURE Bioscience, Inc. 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 Strong Sell to a Buy candidate.
Current score: 4.221 Buy Candidate Upgraded
Predicted Opening Price for PURE Bioscience, Inc. of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| $0.0896 ( 9.40%) | $0.0989 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PURE
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.118 | 18.81 % | |
| R2 | 0.107 | 8.03 % | ||
| R1 | 0.100 | 1.37 % | ||
| Current price: | 0.0989 | |||
| Support | S1 | 0.0789 | -20.18 % | |
| S2 | 0.0724 | -26.84 % | ||
| S3 | 0.0617 | -37.61 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.103 | 4.45 % | |
| R2 | 0.100 | 1.11 % | ||
| R1 | 0.0990 | 0.101 % | ||
| Current price | 0.0989 | |||
| Support | S1 | 0.0900 | -9.00% | |
| S2 | 0.0800 | -19.11% | ||
| S3 | 0.0760 | -23.15% |
FAQ
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