Based

Resistance

Rise

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>PRTA stock price: The stock has been bearish from the beginning of May 2023.</a> </li> 
 <li> <span>2</span> <a>The company is developing an Alzheimer’s drug, which may influence the stock price.&nbsp;</a> </li> 
 <li> <span>3</span> <a>The current stock is near a pivot level and the RSI is showing a rise.</a> </li> 
</ul> 
<p>PRTA stock (NASDAQ: PRTA) caught the limelight when it rose more than 75% during the last September. This sudden and huge surge was a result of its Peer company’s positive clinical trial data. Biogen announced a successful trial for its Alzheimer’s disease treatment, ‘lecanemab’, which caused a surge in PRTA shares.&nbsp;</p> 
<p>Several analysts have increased price targets for BIIB, causing its share price to surge. Like its peers Prothena was also developing an Alzheimer’s drug, leading to similar stocks like PRTA gaining.</p> 
<h2 class="wp-block-heading" id="strong-the-rise-and-fall-strong"><strong>The Rise and Fall</strong></h2> 
<p>After this Gapup opening, the PRTA stock price consolidated until the end of that year. However, the start of 2023 was bearish for PRTA stock as it broke a major support level of $56.6 during the first month. The bulls were able to reclaim another support of $47.8. The support made the price break the 52-week high resistance and rise up to $79.6 in May. The stock has been on a downtrend since that price hike.&nbsp;</p> 
<h2 class="wp-block-heading" id="strong-technical-analysis-and-prediction-of-the-prta-stock-price-strong"><strong>Technical Analysis and Prediction of the PRTA Stock Price&nbsp;</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter">
  <img decoding="async" loading="lazy" width="1600" height="764" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-493.png" alt="PRTA Stock Surges 26%, Is It the Start of a Bullish Trend?" class="wp-image-176474" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-493.png 1600w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-493-300x143.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-493-1024x489.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-493-768x367.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-493-1536x733.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-493-750x358.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-493-1140x544.png 1140w" sizes="(max-width: 1600px) 100vw, 1600px">
  <figcaption class="wp-element-caption">
   Chart provided by<a href="https://in.tradingview.com/chart/X78t0Vyp/?symbol=NASDAQ%3APRTA"> TradingView </a>&nbsp;(Daily time frame)
  </figcaption>
 </figure>
</div> 
<p>The PRTA <a href="https://www.thecoinrepublic.com/2023/10/15/backed-by-strong-financials-cey-stock-price-rose-11-6-in-5-days/" target="_blank" rel="noreferrer noopener">stock price</a> is currently trading at the level of $52.3 after rising more than 26% on a single day. The bulls have reclaimed the support level of $47.8, which has resulted in this surge. This stock’s current candle’s shadow is already in the zone of immediate resistance, which is at the level of $31.4.&nbsp;</p> 
<p>If the PRTA stock price makes it past the current resistance level, it will go toward the 2nd supply zone, starting at $63. On the other side, if they break the current support level, the second support is at $31.4.</p> 
<h3 class="wp-block-heading" id="strong-what-does-the-rsi-indicate-strong"><strong>What does the RSI indicate?</strong></h3> 
<p>Moreover, indicators like the relative strength index show a rise in its levels. The RSI line touched its oversold level of 30 when the PRTA stock price touched its support. Currently, the RSI line is at 56, while its Simple Moving Average line (SMA) is at 34. The RSI is left with enough space for the bulls to break past the current resistance level.&nbsp;</p> 
<h3 class="wp-block-heading" id="strong-what-is-the-price-prediction-of-prta-strong"><strong>What is the price prediction of PRTA?</strong></h3> 
<p>Based on the recent surge in a day of the PRTA stock price, it is predicted to be bearish. The stock has reached a high till its resistance, while the RSI has also surged up. However, the gap between its SMA and current point level is high. It indicates that the stock will make some corrections before it attempts to sustain above the current resistance.</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p>The Prothena Corporation Plc stock (NASDAQ: PRTA)&nbsp; hiked more than 75% during the last September. After this gap-up opening, the PRTA stock showed some consolidation and broke the 52-week high. Since then, it has been in a downtrend. Today, it rose more than 26%, but the forecast is bearish.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<ul> 
 <li><strong>Support Levels:</strong> $47 and $31</li> 
 <li><strong>Resistance Levels: </strong>$57 and $63</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading in stocks or related indexes comes with a risk of financial loss.</p>

PRTA Stock Surges 26%, Is It the Start of a Bullish Trend?

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