Progress Software Corporation Forecast and Stock Analysis
Technical PRGS stock analysis for April 22, 2019.
Progress Software Corporation gained 1.30% in the last trading day, rising from $44.65 to $45.23 The price has fallen in 7 of the last 10 days , but is still up by 0.27% over the past 2 weeks. Volume fell in the last day by -27 894 shares, and in total, 287 241 shares bought and sold for approximately $12.99 million. You should take into consideration that a falling volume on higher prices causes divergence and may be an early warning about possible changes for the next couple of days.
Close price at the end of the last trading day (Monday, 22nd Apr 2019) of the PRGS stock was $45.23. This is 1.3% more than the trading day before Thursday, 18th Apr 2019.
During day the stock fluctuated 1.94% from a day low at $44.41 to a day high of $45.27.
30 day high of the PRGS stock price was $47.60 and low was $35.68.
90 day high was $47.60 and low was $34.14.
52 week high for the Progress Software Corporation - $47.60 and low - $30.23.
Progress Software Corporation lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 28.39% during the next 3 months and, with 90% probability hold a price between $50.34 and $60.02 at the end of this period.
There are mixed signals in the stock today. A sales signal was issued from a pivot top point on Friday April 12, 2019, which indicates further falls until a new bottom pivot has been found. Progress Software Corporation holds a sales signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock. On further gains, the stock will meet resistance from the short-term moving average at approximately $45.40. On a fall, the stock will find some support from the long-term average at approximately $40.60. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sales signal. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and may be an early warning. The stock should be watched closely.
Relative Strength Index (RSI)
RSI14 is 50 and the stock is currently not being overbought or oversold
Support & Resistance
Progress Software Corporation finds support from accumulated volume at $45.20.
This stock may move much during a day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.86 between high and low, or 1.94%. For the last week, the stock has had a daily average volatility of 1.90%.
Our recommended stoploss: $43.00 (-4.93%) (This stock has high daily movements and this gives high risk. There is a sell signal from pivot top found 5 days ago.)
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Evaluation: Buy Candidate
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for this stock to perform well in the short-term. We have upgraded our recommendation for this stock since last evaluation from a Hold/Accumulate to a Buy Candidate.
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|PRGS $45.23 ($0.58 1.30%)|
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