PZ Cormay S.A. Stock Forecast
Evaluation of PZ Cormay S.A. stock downgraded after the last trading session.
(Updated on May 17, 2024)
The PZ Cormay S.A. stock price fell by -1.59% on the last day (Friday, 17th May 2024) from 0.630zł to 0.620zł. During the last trading day the stock fluctuated 2.61% from a day low at 0.614zł to a day high of 0.630zł. The price has risen in 5 of the last 10 days and is up by 5.08% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -28 thousand shares and in total, 5 thousand shares were bought and sold for approximately 3.38zł thousand.
The stock lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at 0.630zł will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -4.20% during the next 3 months and, with a 90% probability hold a price between 0.539zł and 0.603zł 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
CRM.WA Signals & Forecast
The PZ Cormay S.A. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately 0.620zł. On a fall, the stock will find some support from the long-term average at approximately 0.598zł. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 Thursday, May 16, 2024, and so far it has fallen -1.59%. 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 stock 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 PZ Cormay S.A. stock
PZ Cormay S.A. finds support from accumulated volume at 0.610zł and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the stock. During the last day, the stock moved 0.0160zł between high and low, or 2.61%. For the last week the stock has had daily average volatility of 3.25%.
Our recommended stop-loss: 0.595zł (-3.98%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 25 days ago.)
Trading Expectations (CRM.WA) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect PZ Cormay S.A. to open at 0.621zł, and during the day (based on 14 day Average True Range), to move between 0.600zł and 0.640zł, which gives a possible trading interval of +/-0.0201zł (+/-3.24%) up or down from last closing price. If PZ Cormay S.A. takes out the full calculated possible swing range there will be an estimated 6.47% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at 0.628zł (1.29%) than the support at 0.610zł (1.61%), 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 PZ Cormay S.A. stock A Buy?
PZ Cormay S.A. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.276 Hold/Accumulate Downgraded
Predicted Opening Price for PZ Cormay S.A. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| 0.621zł ( 0.215%) | 0.620zł |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CRM.WA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.637 | 2.80 % | |
| R2 | 0.631 | 1.81 % | ||
| R1 | 0.627 | 1.20 % | ||
| Current price: | 0.620 | |||
| Support | S1 | 0.615 | -0.771 % | |
| S2 | 0.611 | -1.38 % | ||
| S3 | 0.605 | -2.37 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.648 | 4.52 % | |
| R2 | 0.630 | 1.61 % | ||
| R1 | 0.628 | 1.29 % | ||
| Current price | 0.620 | |||
| Support | S1 | 0.610 | -1.61% | |
| S2 | 0.604 | -2.58% | ||
| S3 | 0.588 | -5.16% |
FAQ
Click here for our free guide on how to buy PZ Cormay S.A. Stock.
