Premier African Minerals Ltd Stock Forecast

Premier African Minerals Ltd stock price ended at £0.190 on Thursday, after gaining 0.529%.
(Updated on Apr 25, 2024)

PREM.L Signals & Forecast

A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 4.40%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Premier African Minerals Ltd stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at £0.192 and £0.233. A break-up above any of these levels will issue buy signals.

Support, Risk & Stop-loss for Premier African Minerals Ltd stock

Premier African Minerals Ltd finds support from accumulated volume at £0.189 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved £0.0150 between high and low, or 8.11%. For the last week, the stock has had daily average volatility of 11.98%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (PREM.L) For The Upcoming Trading Day Of Friday 26th

For the upcoming trading day on Friday, 26th we expect Premier African Minerals Ltd to open at £0.192, and during the day (based on 14 day Average True Range), to move between £0.161 and £0.219, which gives a possible trading interval of +/-£0.0292 (+/-15.35%) up or down from last closing price. If Premier African Minerals Ltd takes out the full calculated possible swing range there will be an estimated 30.70% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at £0.189 (0.53%) than the resistance at £0.193 (1.58%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Premier African Minerals Ltd stock A Buy?

Premier African Minerals Ltd holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.

Current score: -3.977 Sell Candidate Unchanged

Predicted Opening Price for Premier African Minerals Ltd of Friday, April 26, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.