The Proterra Inc. $Proterra Inc.(PTRA)$ stock price fell by -88.31% on Tuesday, 8th Aug 2023 from $1.43 to $0.167. It has now fallen 5 days in a row. During the last trading day the stock fluctuated 190.62% from a day low at $0.152 to a day high of $0.443. The price has fallen in 6 of the last 10 days and is down by -88.31% for this period. Volume has increased on the last day by 184 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 186 million shares were bought and sold for approximately $31.14 million.
The stock has broken the very wide and strong rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at $1.20. A reaction back to this level may hold a second chance to get out before further falls.
PTRA Signals & Forecast
There are few to no technical positive signals at the moment. The Proterra 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 $1.47 and $1.34. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, August 01, 2023, and so far it has fallen -91.15%. 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). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Proterra Inc. stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.291 between high and low, or 190.62%. For the last week, the stock has had daily average volatility of 47.75%.
Proterra Inc. is oversold on RSI14 (23). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PTRA) For The Trading Day Of Wednesday 9th
For the trading day on Wednesday, 9th we expect Proterra Inc. to open at $0.254, and during the day (based on 14 day Average True Range), to move between -$0.0818 and $0.416, which gives a possible trading interval of +/-$0.249 (+/-148.92%) up or down from last closing price. If Proterra Inc. takes out the full calculated possible swing range there will be an estimated 297.84% move between the lowest and the highest trading price during the day.
Insiders are very positive buying more shares than they are selling in Proterra Inc.
In the last 100 trades there were 6.55 million shares bought and 620.41 thousand shares sold. The last trade was made 45 days ago by Embt Jeffrey Donald who bough 210.08 thousand shares. The large amount of stocks bought compared to stocks sold indicate that the insiders believe there is a potential good upside. In some cases larger purchases can be explained by due date for stock options.
Is Proterra Inc. stock A Buy?
The Proterra Inc. stock holds several negative signals and despite the positive trend, we believe Proterra Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.
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