Home
News
- 1 PZZA stock price is recovering from the lower trendline over the daily time frame chart.
- 2 PZZA shares are still below 20, 50, 100 and 200-days daily moving averages.
- 3 Papa John’s International Inc. (NASDAQ: PZZA) stock declined by 20.56% year to date.
PZZA stock price declined till the $61.81 support and recovered till the current level, but may slip now as sellers may approach, says analysts. Analysts suggest that PZZA shares may lose the uptrend momentum as it approaches the upper resistance level of $68.28 mark. Now, sellers may approach to sell PZZA shares during Tuesday’s trading session. Meanwhile, buyers need to accumulate at a higher rate if they want to oppose the accumulation of sellers.
PZZA share price fell from the $79.55 level in September 2023 and slumped till the $61.81. However, on October 6th, PZZA managed to gain support at the $61.81 support to initiate its recovery towards the primary resistance level at $68.28.
PZZA stock price was at $66.44 and gained around 1.36% of its market capitalization during Monday’s trading session. Trading volume was below average and needs to grow during Tuesday’s trading session. This confirms the facts that sellers may come during Tuesday’s trading session.
Will PZZA Stock Price Reach $68.28 Mark?
PZZA stock price may slip as it nears the upper trendline over the daily time frame chart. Meanwhile, volume change can be seen below average and needs to grow during Tuesday’s trading session to avoid falling from the current level. PZZA shares are still below 20, 50, 100 and 200-days daily moving averages.
Analysts predict that PZZA may enter a consolidation phase, creating a range-bound pattern on the daily time frame chart. Over the past week, PZZA shares increased by approximately 4.27%, but they experienced a decline of 15.15% over the last month.
Furthermore, PIZZA shares saw a decrease of 12.38% in the last three months and 13.48% in the last six months. Year to date, PIZZA’s share price declined by around 20.56%. These trends suggest that PZZA faced challenges in terms of its performance over various time frames throughout the year.
Technical indicators are showing an uptrend for PIZZA stock. The relative strength index (RSI) is currently at 39 and is moving towards neutrality. This suggests that there may be potential shifts in direction for Papa John’s International Inc. (NASDAQ: PZZA) shares, and investors should keep an eye on the daily time frame chart for any upcoming developments.
Summary
PZZA stock price declined till the $61.81 support and recovered till the current level, but may slip now as sellers may approach, says analysts. Now sellers may approach to sell PZZA shares during Tuesday’s trading session. Analysts predict that PZZA may enter a consolidation phase, creating a range-bound pattern on the daily time frame chart. Year to date, PIZZA’s share price has declined by around 20.56%. Technical indicators are showing an uptrend for PIZZA stock.
Technical Levels
Support Levels: $65.28 and $63.70
Resistance Levels: $68.28 and $69.40
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
