Aroon Indicator for PROM.X shows an upward move is likely

PROM.X's Aroon Indicator triggered a bullish signal on June 06, 2024. Tickeron's A.I.dvisor detected that the AroonUp green line is above 70 while the AroonDown red line is below 30. When the up indicator moves above 70 and the down indicator remains below 30, it is a sign that the stock could be setting up for a bullish move. Traders may want to buy the stock or look to buy calls options. A.I.dvisor looked at 61 similar instances where the Aroon Indicator showed a similar pattern. In 54 of the 61 cases, the stock moved higher in the days that followed. This puts the odds of a move higher at 89%.

Technical Analysis (Indicators)

Bullish Trend Analysis

The Stochastic Oscillator shows that the ticker has stayed in the oversold zone for 4 days. The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an upward trend is expected.

PROM.X moved above its 50-day moving average on June 12, 2024 date and that indicates a change from a downward trend to an upward trend.

The 10-day moving average for PROM.X crossed bullishly above the 50-day moving average on May 28, 2024. This indicates that the trend has shifted higher and could be considered a buy signal. In 2 of 6 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are 33%.

Following a +4.43% 3-day Advance, the price is estimated to grow further. Considering data from situations where PROM.X advanced for three days, in 65 of 105 cases, the price rose further within the following month. The odds of a continued upward trend are 62%.

PROM.X may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.

$PROM

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