Plexus Corp. Stock Forecast
Plexus Corp. stock price up 1.20% on Friday
(Updated on Apr 26, 2024)
The Plexus Corp. stock price gained 1.20% on the last trading day (Friday, 26th Apr 2024), rising from $99.09 to $100.28. During the last trading day the stock fluctuated 2.11% from a day low at $99.05 to a day high of $101.14. The price has risen in 6 of the last 10 days and is up by 4.91% over the past 2 weeks. Volume fell on the last day by -40 thousand shares and in total, 125 thousand shares were bought and sold for approximately $12.50 million. 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 has broken the wide and horizontal trend up. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately. $100.13 is considered to be a "second chance" to hit a potential runner. It is, however, important that volume does follow the price as false breaks may appear and it may move back into the horizontal trend. Based on the rectangle-formation theory the stock is predicted to reach $109.51 sometime during the next 3 months.
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PLXS Signals & Forecast
The Plexus Corp. 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 $96.03 and $94.54. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, March 18, 2024, and so far it has risen 10.66%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Plexus Corp. stock
On the downside, the stock finds support just below today's level from accumulated volume at $94.72 and $94.40. 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, Plexus Corp. finds support just below today's level at $94.72. If this is broken, then the next support from accumulated volume will be at $94.40 and $91.76.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $2.09 between high and low, or 2.11%. For the last week the stock has had daily average volatility of 2.69%.
Our recommended stop-loss: $96.68 (-3.59%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 28 days ago.)
Trading Expectations (PLXS) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Plexus Corp. to open at $100.16, and during the day (based on 14 day Average True Range), to move between $98.08 and $102.48, which gives a possible trading interval of +/-$2.20 (+/-2.19%) up or down from last closing price. If Plexus Corp. takes out the full calculated possible swing range there will be an estimated 4.38% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $94.72, some $5.56 (5.54%) from the current price of $100.28, our system finds the risk reward attractive.
Is Plexus Corp. stock A Buy?
Several short-term signals are positive and the stock has broken the horizontal trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for Plexus Corp. stock to perform well in the short-term period.
Current score: 4.736 Buy Candidate Unchanged
Predicted Opening Price for Plexus Corp. of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $100.16 ( 0.123%) | $100.28 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PLXS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 102.25 | 1.96 % | |
| R2 | 101.45 | 1.17 % | ||
| R1 | 100.96 | 0.673 % | ||
| Current price: | 100.28 | |||
| Support | S1 | 99.36 | -0.92 % | |
| S2 | 98.87 | -1.41 % | ||
| S3 | 98.07 | -2.21 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 100.28 | |||
| Support | S1 | 94.72 | -5.54% | |
| S2 | 94.40 | -5.86% | ||
| S3 | 91.76 | -8.50% |
FAQ
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