PROS Holdings Inc Stock Forecast
PROS Holdings Inc stock upgraded to Hold/Accumulate.
(Updated on Mar 27, 2024)
The PROS Holdings Inc stock price gained 2.48% on the last trading day (Wednesday, 27th Mar 2024), rising from $34.73 to $35.59. During the last trading day the stock fluctuated 2.71% from a day low at $34.69 to a day high of $35.63. The price has fallen in 6 of the last 10 days and is down by -0.34% for this period. Volume fell on the last day by -65 thousand shares and in total, 153 thousand shares were bought and sold for approximately $5.46 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 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 PROS Holdings Inc stock with a 90% probability to be traded between $32.54 and $37.32 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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PRO Signals & Forecast
The PROS Holdings 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 $35.21 and $35.51. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Thursday, February 15, 2024, and so far it has fallen -5.32%. 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 PROS Holdings Inc stock
PROS Holdings Inc finds support from accumulated volume at $35.10 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 $0.94 between high and low, or 2.71%. For the last week the stock has had daily average volatility of 2.80%.
Our recommended stop-loss: $34.00 (-4.47%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 28 days ago.)
Trading Expectations (PRO) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect PROS Holdings Inc to open at $35.30, and during the day (based on 14 day Average True Range), to move between $34.56 and $36.62, which gives a possible trading interval of +/-$1.03 (+/-2.90%) up or down from last closing price. If PROS Holdings Inc takes out the full calculated possible swing range there will be an estimated 5.79% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $35.61 (0.06%) than the support at $35.10 (1.38%), 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 PROS Holdings Inc stock A Buy?
PROS Holdings 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.083 Hold/Accumulate Upgraded
Predicted Opening Price for PROS Holdings Inc of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$35.30 ( 0.81%) | $35.59 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PRO
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 36.24 | 1.84 % | |
R2 | 35.88 | 0.83 % | ||
R1 | 35.66 | 0.203 % | ||
Current price: | 35.59 | |||
Support | S1 | 34.94 | -1.81 % | |
S2 | 34.72 | -2.44 % | ||
S3 | 34.36 | -3.45 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 36.75 | 3.26 % | |
R2 | 36.01 | 1.18 % | ||
R1 | 35.61 | 0.0562 % | ||
Current price | 35.59 | |||
Support | S1 | 35.10 | -1.38% | |
S2 | 34.77 | -2.30% | ||
S3 | 34.31 | -3.60% |
FAQ
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