Patrys Limited Stock Forecast
High volatility in Patrys Limited stock price on Tuesday which ended trading at $0.0080
(Updated on May 21, 2024)
The Patrys Limited stock price gained 14.29% on the last trading day (Tuesday, 21st May 2024), rising from $0.0070 to $0.0080. During the last trading day the stock fluctuated 14.29% from a day low at $0.0070 to a day high of $0.0080. The price has been going up and down for this period, and there has been a -11.11% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 588 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $15.37 thousand.
The stock 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 stock is expected to fall -16.57% during the next 3 months and, with a 90% probability hold a price between $0.0058 and $0.0077 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.
PAB.AX Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, May 16, 2024, and so far it has risen 14.29%. Further rise is indicated until a new top pivot has been found. Patrys Limited has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Patrys Limited stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $0.0085. On a fall, the stock will find some support from the short-term average at $0.0076. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Patrys Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0070. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $ may give a huge drop in the stock price.
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 $0.0010 between high and low, or 14.29%. For the last week, the stock has had daily average volatility of 5.71%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PAB.AX) For The Upcoming Trading Day Of Wednesday 22nd
For the upcoming trading day on Wednesday, 22nd we expect Patrys Limited to open at $0.0077, and during the day (based on 14 day Average True Range), to move between $0.0074 and $0.0086, which gives a possible trading interval of +/-$0.0006 (+/-7.05%) up or down from last closing price. If Patrys Limited takes out the full calculated possible swing range there will be an estimated 14.10% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0090 (12.50%) than the support at $0.0070 (12.50%), 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 Patrys Limited stock A Buy?
Patrys Limited holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -2.304 Sell Candidate Unchanged
Predicted Opening Price for Patrys Limited of Wednesday, May 22, 2024
| Fair opening price May 22, 2024 | Current price |
|---|---|
| $0.0077 ( 4.17%) | $0.0080 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PAB.AX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0087 | 8.33 % | |
| R2 | 0.0083 | 3.56 % | ||
| R1 | 0.0080 | 0.608 % | ||
| Current price: | 0.0080 | |||
| Support | S1 | 0.0073 | -8.94 % | |
| S2 | 0.0070 | -11.89 % | ||
| S3 | 0.0067 | -16.67 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0.0090 | 12.50 % | ||
| Current price | 0.0080 | |||
| Support | S1 | 0.0070 | -12.50% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
Click here for our free guide on how to buy Patrys Limited Stock.
