Primo Water Corporation (PRMW.CA) Stock Technical Analysis
Canada • Toronto Stock Exchange • TSX:PRMW • CA74167P1080
Overall PRMW gets a technical rating of 10 out of 10. Both in the recent history as in the last year, PRMW has proven to be a steady performer, scoring decent points in every aspect analyzed.
- The long term trend is positive and the short term trend is neutral. The long term trend gets the benefit of the doubt for now.
- When comparing the yearly performance of all stocks, we notice that PRMW is one of the better performing stocks in the market, outperforming 92% of all stocks. On top of that, PRMW also shows a nice and consistent pattern of rising prices.
- PRMW is one of the better performing stocks in the Beverages industry, it outperforms 100% of 10 stocks in the same industry.
- PRMW is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so PRMW is lagging the market slightly.
- In the last month PRMW has a been trading in the 29.90 - 38.76 range, which is quite wide. It is currently trading near the high of this range.
- Volume is considerably higher in the last couple of days.
Although PRMW has an excellent technical rating, it does not offer a high quality setup at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.
More info and screens
32.62
When analyzing the support we can see 2 important areas.
- A support zone ranging from 33.56 to 33.56. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @32.95 from a trend line in the daily time frame.
We found 1 important resistance area.
- A resistance zone ranging from 38.35 to 38.62. 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 | UP | POSITIVE | The long term trend for PRMW.CA is up. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for PRMW.CA is neutral. |
| ChartMill Relative Strength | 92.15 | POSITIVE | PRMW.CA has a high relative strength, it outperformed 92.15% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of PRMW.CA is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of PRMW.CA is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of PRMW.CA is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 57.8 | NEUTRAL | The RSI value for PRMW.CA is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.31 | NEGATIVE | The MACD value suggests PRMW.CA has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 62.68 | NEUTRAL | The Stochastics value for PRMW.CA is a neutral value. |
| Average True Range in percent/ATR (20) | 3.76 | MEDIUM VOLATILITY | The ATR as a percentage value for PRMW.CA suggests some volalility. |
| Average Directional Index/ADX (14) | 34.9 | POSITIVE | The high ADX value value for PRMW.CA suggests a strong trend. |
TSX:PRMW (11/12/2024, 7:00:00 PM)
37.4
+2.04 (+5.77%)
Primo Water Corporation / PRMW.CA FAQ
What is the technical rating for PRMW stock?
ChartMill assigns a technical rating of 10 / 10 to PRMW.CA.
What is the trend direction for PRMW stock?
The current trend direction for Primo Water Corporation (PRMW.CA) is Bullish.
What is the RSI signal for PRMW stock?
Primo Water Corporation (PRMW.CA) has an RSI value of 57.7989. This indicates that the stock is currently neutral.
Can you provide the MACD signal for Primo Water Corporation?
The MACD indicator for Primo Water Corporation (PRMW.CA) has a value of -0.308266, indicating a bearish trend.
What are the support and resistance levels for Primo Water Corporation (PRMW.CA) stock?
Primo Water Corporation (PRMW.CA) has a support level at 33.56 and a resistance level at 38.35. Check the full technical report for our detailed analysis of PRMW.CA support and resistance levels.