Precipio, Inc. Stock Forecast
Volatile ride for Precipio, Inc. stock price on Thursday moving between $6.01 and $6.70
(Updated on Mar 28, 2024)
The Precipio, Inc. stock price gained 8.00% on the last trading day (Thursday, 28th Mar 2024), rising from $6.20 to $6.70. It has now gained 3 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 11.48% from a day low at $6.01 to a day high of $6.70. The price has risen in 5 of the last 10 days and is up by 11.67% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 7 thousand more shares were traded than the day before. In total, 10 thousand shares were bought and sold for approximately $67.96 thousand.
The stockis at the upper part of a very wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $6.93 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Precipio, Inc. stock with a 90% probability to be traded between $5.34 and $6.98 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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PRPO Signals & Forecast
The Precipio, Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $6.15 and $6.33. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Precipio, Inc. has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, February 07, 2024, and so far it has fallen -3.01%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Precipio, Inc. stock
Precipio, Inc. finds support from accumulated volume at $6.50 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.690 between high and low, or 11.48%. For the last week, the stock has had daily average volatility of 5.36%.
Our recommended stop-loss: $6.39 (-4.60%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 35 days ago.)
Trading Expectations (PRPO) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Precipio, Inc. to open at $6.47, and during the day (based on 14 day Average True Range), to move between $6.39 and $7.01, which gives a possible trading interval of +/-$0.311 (+/-4.65%) up or down from last closing price. If Precipio, Inc. takes out the full calculated possible swing range there will be an estimated 9.29% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $6.71 (0.15%) than the support at $6.50 (2.99%), 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 Precipio, Inc. stock A Buy?
Precipio, Inc. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.245 Hold/Accumulate Upgraded
Predicted Opening Price for Precipio, Inc. of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$6.47 ( 3.43%) | $6.70 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PRPO
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 7.16 | 6.86 % | |
R2 | 6.90 | 2.93 % | ||
R1 | 6.73 | 0.501 % | ||
Current price: | 6.70 | |||
Support | S1 | 6.21 | -7.37 % | |
S2 | 6.04 | -9.80 % | ||
S3 | 5.78 | -13.73 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 6.91 | 3.10 % | |
R2 | 6.89 | 2.84 % | ||
R1 | 6.71 | 0.149 % | ||
Current price | 6.70 | |||
Support | S1 | 6.50 | -2.99% | |
S2 | 6.48 | -3.28% | ||
S3 | 6.08 | -9.25% |
FAQ
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