Bp Prudhoe Bay Royalty Trust Trust Forecast
Red day on Wednesday for Bp Prudhoe Bay Royalty Trust
(Updated on Jun 19, 2024)
The Bp Prudhoe Bay Royalty Trust trust price fell by -3.82% on the last day (Wednesday, 19th Jun 2024) from £2.56 to £2.47. During the last trading day the trust fluctuated 0% from a day low at £2.47 to a day high of £2.47. The price has been going up and down for this period, and there has been a 4.01% gain for the last 2 weeks. Volume fell on the last day along with the trust, which is actually a good sign as volume should follow the trust. On the last day, the trading volume fell by -30 shares and in total, 0 shares were bought and sold for approximately £0 .
The trust lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the trust is expected to fall -9.92% during the next 3 months and, with a 90% probability hold a price between £1.83 and £2.43 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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0S10.L Signals & Forecast
The Bp Prudhoe Bay Royalty Trust trust holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the trust has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at £2.40 and £2.42. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, June 18, 2024, and so far it has fallen -3.82%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this trust may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Bp Prudhoe Bay Royalty Trust trust
On the downside, the trust finds support just below today's level from accumulated volume at £2.32 and £2.30. There is a natural risk involved when a trust is testing a support level, since if this is broken, the trust then may fall to the next support level. In this case, Bp Prudhoe Bay Royalty Trust finds support just below today's level at £2.32. If this is broken, then the next support from accumulated volume will be at £2.30 and £2.24.
In general the trust tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the trust During the last day, the trust moved £0 between high and low, or 0%. For the last week the trust has had daily average volatility of 1.97%
Our recommended stop-loss: £2.35 (-4.49%) (This trust has low daily movements and this gives low risk. There is a sell signal from a pivot top found 12 days ago.)
Trading Expectations (0S10.L) For The Upcoming Trading Day Of Thursday 20th
For the upcoming trading day on Thursday, 20th we expect Bp Prudhoe Bay Royalty Trust to open at £2.47, and during the day (based on 14 day Average True Range), to move between £2.35 and £2.58, which gives a possible trading interval of +/-£0.113 (+/-4.58%) up or down from last closing price. If Bp Prudhoe Bay Royalty Trust takes out the full calculated possible swing range there will be an estimated 9.16% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £2.50 (1.56%) than the support at £2.32 (5.88%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Bp Prudhoe Bay Royalty Trust trust A Buy?
Several short-term signals are positive, despite the trust being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for trust to perform well in the short-term.
Current score: 1.238 Buy Candidate Unchanged
Predicted Opening Price for Bp Prudhoe Bay Royalty Trust of Thursday, June 20, 2024
| Fair opening price June 20, 2024 | Current price |
|---|---|
| £2.47 ( 0%) | £2.47 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0S10.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 2.47 | - |
| R2 | 2.47 | - |
| R1 | 2.47 | - |
| Price | 2.47 | |
| S1 | 2.47 | - |
| S2 | 2.47 | - |
| S3 | 2.47 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 2.80 | 13.59% |
| R2 | 2.79 | 13.18% |
| R1 | 2.50 | 1.56% |
| Price | 2.47 | |
| S1 | 2.32 | -5.88% |
| S2 | 2.30 | -6.69% |
| S3 | 2.24 | -9.13% |
FAQ
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