Primo Water Corporation 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
Green day on Wednesday for Primo Water Corporation stock after gaining 1.48%
(Updated on Apr 17, 2024)
The Primo Water Corporation stock price gained 1.48% on the last trading day (Wednesday, 17th Apr 2024), rising from $17.55 to $17.81. During the last trading day the stock fluctuated 1.48% from a day low at $17.60 to a day high of $17.86. The price has fallen in 6 of the last 10 days and is down by -1.38% for this period. Volume fell on the last day by -110 thousand shares and in total, 976 thousand shares were bought and sold for approximately $17.39 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $17.62 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 29.99% during the next 3 months and, with a 90% probability hold a price between $22.91 and $25.36 at the end of this 3-month period.
PRMW Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Monday, March 25, 2024, and so far it has fallen -2.94%. 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). The Primo Water Corporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $17.69 and $17.47. A breakdown below any of these levels will issue sell signals. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Primo Water Corporation stock
Primo Water Corporation finds support from accumulated volume at $17.58 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.260 between high and low, or 1.48%. For the last week the stock has had daily average volatility of 1.62%.
Our recommended stop-loss: $17.09 (-4.06%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 16 days ago.)
Trading Expectations (PRMW) For The Upcoming Trading Day Of Thursday 18th
For the upcoming trading day on Thursday, 18th we expect Primo Water Corporation to open at $17.76, and during the day (based on 14 day Average True Range), to move between $17.49 and $18.13, which gives a possible trading interval of +/-$0.324 (+/-1.82%) up or down from last closing price. If Primo Water Corporation takes out the full calculated possible swing range there will be an estimated 3.64% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $17.58 (1.29%) than the resistance at $18.20 (2.19%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Primo Water Corporation stock A Buy?
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 Primo Water Corporation stock to perform well in the short-term.
Current score: 3.694 Buy Candidate Unchanged
Predicted Opening Price for Primo Water Corporation of Thursday, April 18, 2024
| Fair opening price April 18, 2024 | Current price |
|---|---|
| $17.76 ( 0.299%) | $17.81 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PRMW
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 18.02 | 1.16 % | |
| R2 | 17.92 | 0.603 % | ||
| R1 | 17.86 | 0.258 % | ||
| Current price: | 17.81 | |||
| Support | S1 | 17.66 | -0.86 % | |
| S2 | 17.60 | -1.20 % | ||
| S3 | 17.50 | -1.76 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 18.35 | 3.03 % | |
| R2 | 18.21 | 2.25 % | ||
| R1 | 18.20 | 2.19 % | ||
| Current price | 17.81 | |||
| Support | S1 | 17.58 | -1.29% | |
| S2 | 16.21 | -8.98% | ||
| S3 | 15.29 | -14.15% |
PRMW Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 07, 2024 | Mar 07, 2024 | Mar 25, 2024 | $0.0900 | 0.490% |
| 2 | Nov 02, 2023 | Nov 20, 2023 | Dec 01, 2023 | $0.0800 | 0.549% |
| 3 | Aug 10, 2023 | Aug 23, 2023 | Sep 07, 2023 | $0.0800 | 0.533% |
| 4 | May 04, 2023 | Jun 01, 2023 | Jun 14, 2023 | $0.0800 | 0.618% |
| 5 | Feb 22, 2023 | Mar 09, 2023 | Mar 27, 2023 | $0.0800 | 0.549% |
FAQ
Click here for our free guide on how to buy Primo Water Corporation Stock.
