Progressive Care Inc Stock Forecast
Strong day for Progressive Care Inc stock price on Friday rising 11.89% to $1.60
(Updated on Jun 28, 2024)
The Progressive Care Inc stock price gained 11.89% on the last trading day (Friday, 28th Jun 2024), rising from $1.43 to $1.60. During the last trading day the stock fluctuated 3.12% from a day low at $1.60 to a day high of $1.65. The price has fallen in 5 of the last 10 days. Volume fell on the last day by -531 shares and in total, 299 shares were bought and sold for approximately $478.40 . 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 lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -18.56% during the next 3 months and, with a 90% probability hold a price between $1.08 and $1.75 at the end of this 3-month period.
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RXMD Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, June 21, 2024, and so far it has risen 14.29%. 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. The Progressive Care Inc stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $1.81. On a fall, the stock will find some support from the short-term average at $1.52. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. 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.
A buy signal from a double bottom formation was found on Friday, June 21, 2024 and based on theory for this formation the price should go up by 9.38% to $1.75 within 4 trading days since signal was issued (Thursday, June 27, 2024).
Support, Risk & Stop-loss for Progressive Care Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at $1.50 and $1.43. 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, Progressive Care Inc finds support just below today's level at $1.50. If this is broken, then the next support from accumulated volume will be at $1.43 and $1.40.
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 $0.0500 between high and low, or 3.12%. For the last week the stock has had daily average volatility of 9.94%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (RXMD) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Progressive Care Inc to open at $1.62, and during the day (based on 14 day Average True Range), to move between $1.42 and $1.78, which gives a possible trading interval of +/-$0.178 (+/-11.12%) up or down from last closing price. If Progressive Care Inc takes out the full calculated possible swing range there will be an estimated 22.24% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.50 (6.25%) than the resistance at $1.90 (18.75%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Progressive Care Inc stock A Buy?
Progressive Care Inc holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -3.500 Sell Candidate Unchanged
Predicted Opening Price for Progressive Care Inc of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $1.62 ( 1.04%) | $1.60 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RXMD
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.67 | 4.17% |
| R2 | 1.65 | 2.97% |
| R1 | 1.64 | 2.24% |
| Price | 1.60 | |
| S1 | 1.60 | -0.152% |
| S2 | 1.59 | -0.89% |
| S3 | 1.57 | -2.08% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.99 | 24.38% |
| R2 | 1.93 | 20.63% |
| R1 | 1.90 | 18.75% |
| Price | 1.60 | |
| S1 | 1.50 | -6.25% |
| S2 | 1.43 | -10.63% |
| S3 | 1.40 | -12.50% |
FAQ
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