Penske Automotive Group Inc Stock Forecast
Red day on Tuesday for Penske Automotive Group Inc stock after losing 0.333%
(Updated on Jul 02, 2024)
The Penske Automotive Group Inc stock price fell by -0.333% on the last day (Tuesday, 2nd Jul 2024) from $147.12 to $146.63. During the last trading day the stock fluctuated 1.03% from a day low at $146.49 to a day high of $148.00. The price has fallen in 6 of the last 10 days and is down by -0.6% for this period. 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 -53 thousand shares and in total, 153 thousand shares were bought and sold for approximately $22.45 million.
The stock lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $143.95 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -2.84% during the next 3 months and, with a 90% probability hold a price between $139.86 and $154.64 at the end of this 3-month period.
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PAG Signals & Forecast
There are mixed signals in the stock today. The Penske Automotive Group Inc 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 $148.35 and $151.17. A break-up above any of these levels will issue buy signals. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has risen 1.28%. 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).
Support, Risk & Stop-loss for Penske Automotive Group Inc stock
Penske Automotive Group Inc finds support from accumulated volume at $144.77 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 very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $1.51 between high and low, or 1.03%. For the last week the stock has had daily average volatility of 1.25%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PAG) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Penske Automotive Group Inc to open at $147.04, and during the day (based on 14 day Average True Range), to move between $143.77 and $149.49, which gives a possible trading interval of +/-$2.86 (+/-1.95%) up or down from last closing price. If Penske Automotive Group Inc takes out the full calculated possible swing range there will be an estimated 3.90% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $144.77 (1.27%) than the resistance at $149.02 (1.63%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Penske Automotive Group Inc stock A Buy?
Penske Automotive Group Inc 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: -2.472 Sell Candidate Unchanged
Predicted Opening Price for Penske Automotive Group Inc of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $147.04 ( 0.280%) | $146.63 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PAG
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 148.55 | 1.31% |
| R2 | 147.97 | 0.92% |
| R1 | 147.62 | 0.673% |
| Price | 146.63 | |
| S1 | 146.46 | -0.114% |
| S2 | 146.11 | -0.357% |
| S3 | 145.53 | -0.750% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 152.91 | 4.28% |
| R2 | 150.28 | 2.49% |
| R1 | 149.02 | 1.63% |
| Price | 146.63 | |
| S1 | 144.77 | -1.27% |
| S2 | 0 | - |
| S3 | 0 | - |
PAG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 09, 2024 | May 17, 2024 | Jun 04, 2024 | $0.96 | 0.636% |
| 2 | Jan 17, 2024 | Feb 14, 2024 | Mar 01, 2024 | $0.87 | 0.563% |
| 3 | Oct 18, 2023 | Nov 09, 2023 | Dec 01, 2023 | $0.790 | 0.512% |
| 4 | Jul 19, 2023 | Aug 09, 2023 | Sep 01, 2023 | $0.720 | 0.433% |
| 5 | May 11, 2023 | May 19, 2023 | Jun 01, 2023 | $0.660 | 0.477% |
FAQ
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