Platinum Asia Investments Limited Stock Forecast

Platinum Asia Investments Limited stock upgraded to Buy Candidate.
(Updated on May 02, 2024)

PAI.AX Signals & Forecast

The Platinum Asia Investments 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 $0.89 and $0.87. 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 Wednesday, May 01, 2024, and so far it has fallen -1.64%. Further fall is indicated until a new bottom pivot has been found. Platinum Asia Investments Limited gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".

Support, Risk & Stop-loss for Platinum Asia Investments Limited stock

Platinum Asia Investments Limited finds support from accumulated volume at $0.86 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.0150 (1.67%) between high and low. For the last week, the stock has had daily average volatility of 1.68%.

Our recommended stop-loss: $0.87 (-3.50%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 day ago.)

Trading Expectations (PAI.AX) For The Upcoming Trading Day Of Friday 3rd

For the upcoming trading day on Friday, 3rd we expect Platinum Asia Investments Limited to open at $0.91, and during the day (based on 14 day Average True Range), to move between $0.88 and $0.92, which gives a possible trading interval of +/-$0.0171 (+/-1.90%) up or down from last closing price. If Platinum Asia Investments Limited takes out the full calculated possible swing range there will be an estimated 3.80% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.91 (1.11%) than the support at $0.86 (4.44%), 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 Platinum Asia Investments Limited stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Platinum Asia Investments Limited stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 2.724 Buy Candidate Upgraded

Predicted Opening Price for Platinum Asia Investments Limited of Friday, May 3, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.