Pangaea Logistics Solutions Stock Forecast
Pangaea Logistics Solutions stock upgraded to Buy Candidate.
(Updated on Apr 26, 2024)
The Pangaea Logistics Solutions stock price gained 1.16% on the last trading day (Friday, 26th Apr 2024), rising from $6.92 to $7.00. During the last trading day the stock fluctuated 1.59% from a day low at $6.94 to a day high of $7.05. The price has risen in 6 of the last 10 days and is up by 4.48% over the past 2 weeks. Volume fell on the last day by -29 thousand shares and in total, 157 thousand shares were bought and sold for approximately $1.10 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
Given the current short-term trend, the stock is expected to fall -28.40% during the next 3 months and, with a 90% probability hold a price between $4.41 and $5.01 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.
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PANL Signals & Forecast
The Pangaea Logistics Solutions stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $6.88 and $6.99. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 7.36%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for Pangaea Logistics Solutions stock
Pangaea Logistics Solutions finds support from accumulated volume at $6.97 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 therefore the general risk is considered very 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 $0.110 between high and low, or 1.59%. For the last week the stock has had daily average volatility of 2.50%
Our recommended stop-loss: $6.75 (-3.57%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 8 days ago.)
Trading Expectations (PANL) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Pangaea Logistics Solutions Ltd. to open at $7.00, and during the day (based on 14 day Average True Range), to move between $6.80 and $7.20, which gives a possible trading interval of +/-$0.202 (+/-2.89%) up or down from last closing price. If Pangaea Logistics Solutions Ltd. takes out the full calculated possible swing range there will be an estimated 5.77% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $6.97 (0.43%) than the resistance at $8.44 (20.57%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Pangaea Logistics Solutions Ltd. stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for 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: 2.531 Buy Candidate Upgraded
Predicted Opening Price for Pangaea Logistics Solutions Ltd. of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $7.00 ( 0.0476%) | $7.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PANL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.11 | 1.52 % | |
| R2 | 7.06 | 0.92 % | ||
| R1 | 7.04 | 0.553 % | ||
| Current price: | 7.00 | |||
| Support | S1 | 6.95 | -0.648 % | |
| S2 | 6.93 | -1.02 % | ||
| S3 | 6.89 | -1.62 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.52 | 21.71 % | |
| R2 | 8.51 | 21.57 % | ||
| R1 | 8.44 | 20.57 % | ||
| Current price | 7.00 | |||
| Support | S1 | 6.97 | -0.429% | |
| S2 | 6.93 | -1.00% | ||
| S3 | 6.84 | -2.29% |
PANL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 15, 2024 | Feb 29, 2024 | Mar 15, 2024 | $0.100 | 1.46% |
| 2 | Nov 08, 2023 | Nov 30, 2023 | Dec 15, 2023 | $0.100 | 1.27% |
| 3 | Aug 07, 2023 | Aug 31, 2023 | Sep 15, 2023 | $0.100 | 1.80% |
| 4 | May 09, 2023 | May 31, 2023 | Jun 15, 2023 | $0.100 | 1.59% |
| 5 | Feb 15, 2023 | Feb 28, 2023 | Mar 15, 2023 | $0.100 | 1.65% |
FAQ
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