Pacific Current Group Limited Stock Forecast
Pacific Current Group Limited stock upgraded to Strong Buy Candidate.
(Updated on Mar 28, 2024)
The Pacific Current Group Limited stock price gained 0.99% on the last trading day (Thursday, 28th Mar 2024), rising from $10.10 to $10.20. During the last trading day the stock fluctuated 1.49% from a day low at $10.10 to a day high of $10.25. The price has been going up and down for this period, and there has been a 5.7% gain 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, 3 thousand more shares were traded than the day before. In total, 29 thousand shares were bought and sold for approximately $296.78 thousand.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 13.87% during the next 3 months and, with a 90% probability hold a price between $10.82 and $12.80 at the end of this 3-month period.
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PAC.AX Signals & Forecast
The Pacific Current Group Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $10.12 and $9.96. 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). Pacific Current Group 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. Higher liquidity also reduces the general risk. 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, March 26, 2024, and so far it has fallen -0.682%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Pacific Current Group Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at $9.68 and $9.65. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Pacific Current Group Limited finds support just below today's level at $9.68. If this is broken, then the next support from accumulated volume will be at $9.65 and $9.20.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.150 between high and low, or 1.49%. For the last week, the stock has had daily average volatility of 1.78%.
Our recommended stop-loss: $9.79 (-4.07%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (PAC.AX) For The Upcoming Trading Day Of Tuesday 2nd
For the upcoming trading day on Tuesday, 2nd we expect Pacific Current Group Limited to open at $10.18, and during the day (based on 14 day Average True Range), to move between $9.87 and $10.53, which gives a possible trading interval of +/-$0.326 (+/-3.20%) up or down from last closing price. If Pacific Current Group Limited takes out the full calculated possible swing range there will be an estimated 6.39% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $10.23 (0.29%) than the support at $9.68 (5.10%), 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 Pacific Current Group Limited stock A Buy?
Pacific Current Group Limited holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.424 Strong Buy Candidate Upgraded
Predicted Opening Price for Pacific Current Group Limited of Tuesday, April 2, 2024
Fair opening price April 2, 2024 | Current price |
---|---|
$10.18 ( 0.163%) | $10.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PAC.AX
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 10.33 | 1.31 % | |
R2 | 10.28 | 0.745 % | ||
R1 | 10.24 | 0.398 % | ||
Current price: | 10.20 | |||
Support | S1 | 10.13 | -0.725 % | |
S2 | 10.09 | -1.07 % | ||
S3 | 10.03 | -1.63 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 10.62 | 4.12 % | |
R2 | 10.57 | 3.63 % | ||
R1 | 10.23 | 0.294 % | ||
Current price | 10.20 | |||
Support | S1 | 9.68 | -5.10% | |
S2 | 9.65 | -5.39% | ||
S3 | 9.20 | -9.80% |
PAC Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 06, 2024 | Mar 06, 2024 | Apr 11, 2024 | $0.150 | 1.47% |
2 | Mar 08, 2023 | Mar 08, 2023 | Mar 08, 2023 | $0.150 | 2.08% |
3 | Sep 07, 2022 | Sep 07, 2022 | Sep 07, 2022 | $0.230 | 2.87% |
4 | Mar 03, 2022 | Mar 03, 2022 | Mar 03, 2022 | $0.150 | 2.01% |
5 | Sep 08, 2021 | Sep 08, 2021 | Sep 08, 2021 | $0.260 | 3.81% |
FAQ
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