Pentair plc Stock Forecast
Pentair plc stock downgraded to Sell Candidate
(Updated on Apr 18, 2024)
The Pentair plc stock price fell by -0.88% on the last day (Thursday, 18th Apr 2024) from $79.18 to $78.48. It has now fallen 7 days in a row. During the last trading day the stock fluctuated 1.58% from a day low at $78.28 to a day high of $79.52. The price has fallen in 8 of the last 10 days and is down by -5.22% for this period. Volume has increased on the last day by 143 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 1 million shares were bought and sold for approximately $80.41 million.
Given the current short-term trend, the stock is expected to rise 16.91% during the next 3 months and, with a 90% probability hold a price between $91.75 and $103.26 at the end of this 3-month period.
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PNR Signals & Forecast
There are few to no technical positive signals at the moment. The Pentair plc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $80.48 and $81.64. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 28, 2024, and so far it has fallen -8.15%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Pentair plc stock
On the downside, the stock finds support just below today's level from accumulated volume at $73.26 and $73.17. 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, Pentair plc finds support just below today's level at $73.26. If this is broken, then the next support from accumulated volume will be at $73.17 and $72.90.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $1.24 (1.58%) between high and low. For the last week, the stock has had daily average volatility of 2.10%.
Pentair plc is oversold on RSI14 (14). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PNR) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Pentair plc to open at $78.76, and during the day (based on 14 day Average True Range), to move between $76.85 and $80.11, which gives a possible trading interval of +/-$1.63 (+/-2.07%) up or down from last closing price. If Pentair plc takes out the full calculated possible swing range there will be an estimated 4.15% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $81.56 (3.92%) than the support at $73.26 (6.65%), 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
Pentair plc will release earnings BMO on Tuesday, April 23, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.90. We will update the financials statements for Pentair plc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.43% in the first trading day after earnings release.
Is Pentair plc stock A Buy?
The Pentair plc stock holds several negative signals and despite the positive trend, we believe Pentair plc will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.786 Sell Candidate Downgraded
Predicted Opening Price for Pentair plc of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $78.76 ( 0.357%) | $78.48 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PNR
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 80.00 | 1.94 % | |
| R2 | 79.53 | 1.33 % | ||
| R1 | 79.23 | 0.96 % | ||
| Current price: | 78.48 | |||
| Support | S1 | 78.29 | -0.247 % | |
| S2 | 77.99 | -0.620 % | ||
| S3 | 77.52 | -1.22 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 84.72 | 7.95 % | |
| R2 | 81.94 | 4.41 % | ||
| R1 | 81.56 | 3.92 % | ||
| Current price | 78.48 | |||
| Support | S1 | 73.26 | -6.65% | |
| S2 | 73.17 | -6.77% | ||
| S3 | 72.90 | -7.11% |
PNR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 19, 2024 | Apr 18, 2024 | May 03, 2024 | $0.230 | 0.293% |
| 2 | Dec 11, 2023 | Jan 18, 2024 | Feb 02, 2024 | $0.230 | 0.312% |
| 3 | Dec 11, 2023 | Jan 10, 2024 | Feb 02, 2024 | $0.230 | 0.312% |
| 4 | Sep 18, 2023 | Oct 19, 2023 | Nov 03, 2023 | $0.220 | 0.357% |
| 5 | May 08, 2023 | Jul 20, 2023 | Aug 04, 2023 | $0.220 | 0.315% |
FAQ
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