Primoris Services Corp Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Weaker technical forecast for Primoris Services Corp as stock downgraded to Sell Candidate.
(Updated on Apr 24, 2024)
No changes to the price of Primoris Services Corp stock on the last trading day (Wednesday, 24th Apr 2024). During the last trading day the stock fluctuated 6.25% from a day low at £4.00 to a day high of £4.25. The price has fallen in 5 of the last 10 days and is down by -5.56% for this period.
The stock lies in the middle of a very 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 10.23% during the next 3 months and, with a 90% probability hold a price between £3.47 and £6.54 at the end of this 3-month period.
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PRIM.L Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Primoris Services Corp 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 £4.44 and £4.68. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, March 22, 2024, and so far it has fallen -26.09%. Further fall is indicated until a new bottom pivot has been found. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point".
Support, Risk & Stop-loss for Primoris Services Corp stock
Primoris Services Corp finds support from accumulated volume at £4.10 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved £0.250 between high and low, or 6.25%. For the last week the stock has had daily average volatility of 9.49%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PRIM.L) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Primoris Services Corp to open at £4.17, and during the day (based on 14 day Average True Range), to move between £3.52 and £4.98, which gives a possible trading interval of +/-£0.727 (+/-17.10%) up or down from last closing price. If Primoris Services Corp takes out the full calculated possible swing range there will be an estimated 34.20% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £4.35 (2.35%) than the support at £4.10 (3.53%), 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.
Is Primoris Services Corp stock A Buy?
The Primoris Services Corp stock holds several negative signals and despite the positive trend, we believe Primoris Services Corp 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: -4.947 Sell Candidate Downgraded
Predicted Opening Price for Primoris Services Corp of Thursday, April 25, 2024
Fair opening price April 25, 2024 | Current price |
---|---|
£4.17 ( 1.96%) | £4.25 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PRIM.L
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 4.42 | 3.92 % | |
R2 | 4.32 | 1.67 % | ||
R1 | 4.26 | 0.286 % | ||
Current price: | 4.25 | |||
Support | S1 | 4.07 | -4.21 % | |
S2 | 4.01 | -5.60 % | ||
S3 | 3.92 | -7.84 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 5.25 | 23.53 % | |
R2 | 5.00 | 17.65 % | ||
R1 | 4.35 | 2.35 % | ||
Current price | 4.25 | |||
Support | S1 | 4.10 | -3.53% | |
S2 | 4.00 | -5.88% | ||
S3 | 3.90 | -8.24% |
PRIM Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 28, 2024 | Mar 28, 2024 | Apr 10, 2024 | £0.0150 | 0.333% |
2 | Mar 21, 2024 | Mar 21, 2024 | Apr 10, 2024 | £0.0150 | 0.333% |
3 | Mar 18, 2003 | Apr 23, 2003 | May 20, 2003 | £20.00 | 1.36% |
FAQ
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