PRA Group Stock Forecast
PRA Group stock downgraded from Hold/Accumulate to Sell Candidate after Thursday trading session.
(Updated on Apr 18, 2024)
The PRA Group stock price fell by -2.35% on the last day (Thursday, 18th Apr 2024) from $24.04 to $23.48. During the last trading day the stock fluctuated 3.38% from a day low at $23.36 to a day high of $24.15. The price has fallen in 6 of the last 10 days and is down by -7.32% for this period. 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 -141 thousand shares and in total, 140 thousand shares were bought and sold for approximately $3.29 million.
The stock lies in the lower part of a very wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $22.34 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 2.95% during the next 3 months and, with a 90% probability hold a price between $22.99 and $29.39 at the end of this 3-month period.
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PRAA Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 5.22%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The PRA Group 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 $23.96 and $24.78. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for PRA Group stock
PRA Group finds support from accumulated volume at $23.03 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.790 between high and low, or 3.38%. For the last week, the stock has had daily average volatility of 5.78%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PRAA) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect PRA Group to open at $23.66, and during the day (based on 14 day Average True Range), to move between $22.40 and $24.55, which gives a possible trading interval of +/-$1.07 (+/-4.56%) up or down from last closing price. If PRA Group takes out the full calculated possible swing range there will be an estimated 9.12% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $23.03 (1.90%) than the resistance at $25.56 (8.88%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is PRA Group stock A Buy?
The PRA Group stock holds several negative signals and despite the positive trend, we believe PRA Group 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: -1.471 Sell Candidate Downgraded
Predicted Opening Price for PRA Group of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $23.66 ( 0.795%) | $23.48 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PRAA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 24.45 | 4.16 % | |
| R2 | 24.15 | 2.87 % | ||
| R1 | 23.96 | 2.08 % | ||
| Current price: | 23.48 | |||
| Support | S1 | 23.36 | -0.490 % | |
| S2 | 23.17 | -1.28 % | ||
| S3 | 22.87 | -2.57 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 28.00 | 19.28 % | |
| R2 | 26.10 | 11.18 % | ||
| R1 | 25.56 | 8.88 % | ||
| Current price | 23.48 | |||
| Support | S1 | 23.03 | -1.90% | |
| S2 | 22.97 | -2.15% | ||
| S3 | 22.84 | -2.71% |
PRAA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 23, 2007 | May 07, 2007 | Jun 08, 2007 | $0.333 | 1.72% |
FAQ
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