PURE Bioscience, Inc Stock Forecast

Red day on Wednesday for PURE Bioscience, Inc
(Updated on Jul 01, 2020)

PURE.L Signals & Forecast

Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The PURE Bioscience, Inc stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at £1.12. On a fall, the stock will find some support from the short-term average at £0.97. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Tuesday, June 30, 2020, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for PURE Bioscience, Inc stock

On the downside, the stock finds support just below today's level from accumulated volume at £0.90 and £0.88. 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, PURE Bioscience, Inc finds support just below today's level at £0.90. If this is broken, then the next support from accumulated volume will be at £0.88 and £0.760.

In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock 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 2.29%

Our recommended stop-loss: £0.95 (-3.70%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 day ago.)

Trading Expectations (PURE.L) For The Upcoming Trading Day Of Thursday 2nd

For the upcoming trading day on Thursday, 2nd we expect PURE Bioscience, Inc to open at £0.99, and during the day (based on 14 day Average True Range), to move between £0.92 and £1.06, which gives a possible trading interval of +/-£0.0650 (+/-6.57%) up or down from last closing price. If PURE Bioscience, Inc takes out the full calculated possible swing range there will be an estimated 13.13% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ £0.90, some £0.0900 (9.09%) from the current price of £0.99, our system finds the risk reward attractive.

Is PURE Bioscience, Inc stock A Buy?

PURE Bioscience, 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.

Current score: 0.000 Hold/Accumulate Unchanged

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for PURE Bioscience, Inc of Thursday, July 2, 2020

The predicted opening price is based on yesterday's movements between high, low, and closing price.