PRIMO BRANDS CORP (PRMB) Stock Technical Analysis
NYSE:PRMB • US7416231022
We assign a technical rating of 2 out of 10 to PRMB. PRMB scores bad on all fronts: it is a bad performer in the overall market and both the medium and short term pictures are negative.
- The short term trend is neutral, while the long term trend is still negative. We need to see a little more continued positive action to make this really interesting.
- When comparing the yearly performance of all stocks, PRMB is a bad performer in the overall market: 79% of all stocks are doing better.
- PRMB is one of the lesser performing stocks in the Beverages industry. 81% of 33 stocks in the same industry do better.
- PRMB is currently trading in the lower part of its 52 week range, which is not a good signal. Certainly not because the S&P500 Index is trading near new highs.
- In the last month PRMB has a been trading in the 17.96 - 19.83 range, which is quite wide. It is currently trading in the middle of this range where prices have been consolidating recently, this may present a good entry opportunity, but some resistance may be present above.
- PRMB has an average volume of 5771700 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
PRMB has a bad technical rating, but it does show a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is very little resistance above the current price. There is a support zone below the current price at 18.94, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for PRMB in the last couple of days, which is a good sign. Very recently a Pocket Pivot signal was observed. This is another positive sign.
- Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
- A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.
More info and screens
17.51
When analyzing the support we can see 3 important areas.
- A support zone ranging from 18.59 to 18.94. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @18.28 from a horizontal line in the daily time frame.
- A support zone ranging from 17.69 to 17.88. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
When analyzing the resistance we notice 2 important areas.
- Resistance @19.26 from a horizontal line in the daily time frame.
- A resistance zone ranging from 19.63 to 19.63. This zone is formed by a combination of multiple trend lines in multiple time frames.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | DOWN | NEGATIVE | The long term trend for PRMB is down. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for PRMB is neutral. |
| ChartMill Relative Strength | 21.24 | NEGATIVE | PRMB has a low relative strength, it was outperformed by 78.76% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | MIXED | The current price of PRMB is above a declining SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of PRMB is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of PRMB is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 55.67 | NEUTRAL | The RSI value for PRMB is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.1 | NEGATIVE | The MACD value suggests PRMB has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 45.31 | NEUTRAL | The Stochastics value for PRMB is a neutral value. |
| Average True Range in percent/ATR (20) | 3.11 | MEDIUM VOLATILITY | The ATR as a percentage value for PRMB suggests some volalility. |
| Average Directional Index/ADX (14) | 18.16 | NEGATIVE | The low ADX value for PRMB suggests a weak or negative trend. |
19.01
+0.28 (+1.49%)
PRIMO BRANDS CORP / PRMB FAQ
Can you provide the ChartMill technical rating for PRIMO BRANDS CORP?
ChartMill assigns a technical rating of 2 / 10 to PRMB.
What is the current trend direction of PRIMO BRANDS CORP (PRMB) stock?
The current trend direction for PRIMO BRANDS CORP (PRMB) is Bearish.
What is the RSI signal for PRMB stock?
PRIMO BRANDS CORP (PRMB) has an RSI value of 55.6738. This indicates that the stock is currently neutral.
What is the MACD signal for PRMB stock?
The MACD indicator for PRIMO BRANDS CORP (PRMB) has a value of -0.102281, indicating a bearish trend.