Precipio, Inc. Stock Forecast
Green day on Monday for Precipio, Inc. stock after gaining 2.10%
(Updated on Apr 22, 2024)
The Precipio, Inc. stock price gained 2.10% on the last trading day (Monday, 22nd Apr 2024), rising from $6.20 to $6.33. During the last trading day the stock fluctuated 0% from a day low at $6.33 to a day high of $6.33. The price has risen in 4 of the last 10 days but is still down by -2.76% for this period. Volume fell on the last day by -1 thousand shares and in total, 482 shares were bought and sold for approximately $3.05 thousand. 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 is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Precipio, Inc. stock with a 90% probability to be traded between $6.05 and $7.00 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
A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 2.10%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Precipio, Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $6.58 and $6.36. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Precipio, Inc. stock
Precipio, Inc. finds support from accumulated volume at $6.20 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0 between high and low, or 0%. For the last week the stock has had daily average volatility of 1.77%.
Our recommended stop-loss: $6.03 (-4.80%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 1 day ago.)
Trading Expectations (PRPO) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect Precipio, Inc. to open at $6.33, and during the day (based on 14 day Average True Range), to move between $6.08 and $6.58, which gives a possible trading interval of +/-$0.250 (+/-3.95%) up or down from last closing price. If Precipio, Inc. takes out the full calculated possible swing range there will be an estimated 7.90% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $6.35 (0.32%) than the support at $6.20 (2.05%), 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 negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.778 Hold/Accumulate Unchanged
Predicted Opening Price for Precipio, Inc. of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| $6.33 ( 0.00000000%) | $6.33 |
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 | 6.33 | 0.00000000 % | |
| R2 | 6.33 | 0.00000000 % | ||
| R1 | 6.33 | 0.00000000 % | ||
| Current price: | 6.33 | |||
| Support | S1 | 6.33 | 0.00000000 % | |
| S2 | 6.33 | 0.00000000 % | ||
| S3 | 6.33 | 0.00000000 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.70 | 5.85 % | |
| R2 | 6.48 | 2.37 % | ||
| R1 | 6.35 | 0.316 % | ||
| Current price | 6.33 | |||
| Support | S1 | 6.20 | -2.05% | |
| S2 | 6.10 | -3.63% | ||
| S3 | 5.96 | -5.85% |
FAQ
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