PureTech Health Plc Stock Forecast
Stronger technical forecast for PureTech Health Plc stock price after Tuesday trading.
(Updated on Apr 23, 2024)
The PureTech Health Plc stock price gained 3.65% on the last trading day (Tuesday, 23rd Apr 2024), rising from £205.50 to £213.00. During the last trading day the stock fluctuated 4.25% from a day low at £206.50 to a day high of £215.28. The price has fallen in 8 of the last 10 days and is down by -0.93% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 348 thousand more shares were traded than the day before. In total, 670 thousand shares were bought and sold for approximately £142.79 million.
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 14.64% during the next 3 months and, with a 90% probability hold a price between £233.95 and £273.22 at the end of this 3-month period.
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PRTC.L Signals & Forecast
The PureTech Health Plc 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 £209.36 and £210.48. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. 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 Monday, March 25, 2024, and so far it has fallen -6.99%. 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).
Support, Risk & Stop-loss for PureTech Health Plc stock
On the downside, the stock finds support just below today's level from accumulated volume at £201.50 and £200.00. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, PureTech Health Plc finds support just below today's level at £201.50. If this is broken, then the next support from accumulated volume will be at £200.00 and £186.60.
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 £8.78 between high and low, or 4.25%. For the last week, the stock has had daily average volatility of 3.19%.
Our recommended stop-loss: £203.63 (-4.40%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 19 days ago.)
Trading Expectations (PRTC.L) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect PureTech Health Plc to open at £211.59, and during the day (based on 14 day Average True Range), to move between £206.08 and £219.92, which gives a possible trading interval of +/-£6.92 (+/-3.25%) up or down from last closing price. If PureTech Health Plc takes out the full calculated possible swing range there will be an estimated 6.49% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £213.50 (0.23%) than the support at £201.50 (5.40%), 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.
Earnings coming up
PureTech Health Plc will release earnings BMO on Thursday, April 25, 2024. We will update the financials statements for PureTech Health Plc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.40% in the first trading day after earnings release.
Is PureTech Health Plc 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 PureTech Health Plc stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 1.183 Buy Candidate Upgraded
Predicted Opening Price for PureTech Health Plc of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| £211.59 ( 0.660%) | £213.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PRTC.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 220.37 | 3.46 % | |
| R2 | 217.02 | 1.89 % | ||
| R1 | 214.95 | 0.91 % | ||
| Current price: | 213.00 | |||
| Support | S1 | 208.24 | -2.24 % | |
| S2 | 206.17 | -3.21 % | ||
| S3 | 202.81 | -4.78 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 229.00 | 7.51 % | |
| R2 | 223.00 | 4.69 % | ||
| R1 | 213.50 | 0.235 % | ||
| Current price | 213.00 | |||
| Support | S1 | 201.50 | -5.40% | |
| S2 | 200.00 | -6.10% | ||
| S3 | 186.60 | -12.39% |
FAQ
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