Prodways Group S.A. Stock Forecast
Red day on Friday for Prodways Group S.A. stock after losing 1.30%
(Updated on May 17, 2024)
The Prodways Group S.A. stock price fell by -1.30% on the last day (Friday, 17th May 2024) from 0.770€ to 0.760€. During the last trading day the stock fluctuated 5.37% from a day low at 0.745€ to a day high of 0.785€. The price has risen in 6 of the last 10 days and is up by 12.09% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -405 thousand shares and in total, 76 thousand shares were bought and sold for approximately 57.62€ thousand.
The stock lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at 0.765€ will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -28.95% during the next 3 months and, with a 90% probability hold a price between 0.445€ and 0.543€ 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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PWG.PA Signals & Forecast
The Prodways Group S.A. 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 0.712€ and 0.715€. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, May 03, 2024, and so far it has risen 12.09%. 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 along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Prodways Group S.A. stock
Prodways Group S.A. finds support from accumulated volume at 0.759€ 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 0.0400€ between high and low, or 5.37%. For the last week the stock has had daily average volatility of 4.43%.
The Prodways Group S.A. stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: 0.733€ (-3.56%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 72 and this increases the risk substantially. There is a buy signal from a pivot bottom found 10 days ago.)
Trading Expectations (PWG.PA) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Prodways Group S.A. to open at 0.763€, and during the day (based on 14 day Average True Range), to move between 0.739€ and 0.781€, which gives a possible trading interval of +/-0.0215€ (+/-2.83%) up or down from last closing price. If Prodways Group S.A. takes out the full calculated possible swing range there will be an estimated 5.65% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at 0.759€ (0.13%) than the resistance at 0.770€ (1.32%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Prodways Group S.A. stock A Buy?
Prodways Group S.A. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.636 Hold/Accumulate Unchanged
Predicted Opening Price for Prodways Group S.A. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| 0.763€ ( 0.439%) | 0.760€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PWG.PA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.80 | 5.70 % | |
| R2 | 0.788 | 3.69 % | ||
| R1 | 0.779 | 2.45 % | ||
| Current price: | 0.760 | |||
| Support | S1 | 0.748 | -1.57 % | |
| S2 | 0.739 | -2.81 % | ||
| S3 | 0.723 | -4.82 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.94 | 23.68 % | |
| R2 | 0.86 | 12.89 % | ||
| R1 | 0.770 | 1.32 % | ||
| Current price | 0.760 | |||
| Support | S1 | 0.759 | -0.132% | |
| S2 | 0.740 | -2.63% | ||
| S3 | 0.739 | -2.76% |
FAQ
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