PRIM Forecast and Technical Stock Analysis
Buy candidate since 2019-07-19
Primoris Services Corporation gained 0.65% in the last trading day ( Friday, 19th Jul 2019 ), rising from $19.92 to $20.05 During the day the stock fluctuated 2.98% from a day low at $19.62 to a day high of $20.21. The price has fallen in 7 of the last 10 days and is down by -5.56% for this period. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 101 137 more shares were traded than the day before. In total, 207 133 shares bought and sold for approximately $4.15 million.
- 30 day high of the PRIM stock price was $21.62 and low was $19.12.
- 90 day high was $23.98 and low was $18.03.
- 52 week high for Primoris Services Corporation - $28.36 and low - $17.82.
Primoris Services Corporation lies in the middle of a 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 -6.77% during the next 3 months and, with 90% probability hold a price between $16.21 and $19.93 at the end of this period.
Only positive signals in the chart today. Primoris Services 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 $20.25. On a fall, the stock will find some support from the long-term average at approximately $19.82. 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. A buy signal was issued from a pivot bottom point on Thursday July 18, 2019, which indicates further gains until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal.
Relative Strength Index (RSI)
RSImin/max Values: [ 25 - 75 ]
RSI14 is 29 and the stock is currently not being overbought or oversold
* Stockinvest.us uses dynamical calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behaviour.
Support & Resistance
Primoris Services Corporation finds support from accumulated volume at $20.04.
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 $0.58 (2.98%) between high and low. For the last week, the stock has had daily average volatility of 2.18%.
Our recommended stop-loss: $18.74 (-6.51%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from pivot bottom found 1 days ago.)
2.18 %Average volatility
Very Low Low Medium High Very High
Several short-term signals are positive, despite the stock being in a falling trend, 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.
|PRIM $20.05 ($0.13 0.65%)|
PRIM is up $0.13 today, but where's it headed in 2019?
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