Primo Water Corporation Stock Forecast
Green day on Friday for Primo Water Corporation
(Updated on Apr 19, 2024)
The Primo Water Corporation stock price gained 1.71% on the last trading day (Friday, 19th Apr 2024), rising from $18.12 to $18.43. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.44% from a day low at $18.03 to a day high of $18.47. The price has risen in 6 of the last 10 days and is up by 2.85% over the past 2 weeks. Volume fell on the last day by -486 thousand shares and in total, 656 thousand shares were bought and sold for approximately $12.08 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 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 29.46% during the next 3 months and, with a 90% probability hold a price between $23.04 and $25.44 at the end of this 3-month period.
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PRMW Signals & Forecast
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 $17.82 and $17.58. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 5.25%. Further rise is indicated until a new top pivot has been found. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
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 $0.440 between high and low, or 2.44%. For the last week the stock has had daily average volatility of 1.87%.
Our recommended stop-loss: $17.75 (-3.70%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 4 days ago.)
Trading Expectations (PRMW) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Primo Water Corporation to open at $18.31, and during the day (based on 14 day Average True Range), to move between $18.09 and $18.77, which gives a possible trading interval of +/-$0.335 (+/-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.
With no resistance above and support from accumulated volume @ $17.58, some $0.85 (4.61%) from the current price of $18.43, our system finds the risk reward attractive.
Is Primo Water Corporation stock A Buy?
Primo Water Corporation holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
Current score: 5.649 Strong Buy Candidate Unchanged
Predicted Opening Price for Primo Water Corporation of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $18.31 ( 0.651%) | $18.43 |
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 | 18.75 | 1.74 % | |
| R2 | 18.58 | 0.82 % | ||
| R1 | 18.48 | 0.261 % | ||
| Current price: | 18.43 | |||
| Support | S1 | 18.14 | -1.56 % | |
| S2 | 18.04 | -2.13 % | ||
| S3 | 17.87 | -3.04 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 18.43 | |||
| Support | S1 | 17.58 | -4.61% | |
| S2 | 16.21 | -12.05% | ||
| S3 | 15.29 | -17.04% |
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
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