Paranovus Entertainment Technology Ltd. Stock Forecast
Strong day for Paranovus Entertainment Technology Ltd. stock price on Friday rising 6.31% to $1.18
(Updated on May 10, 2024)
The Paranovus Entertainment Technology Ltd. stock price gained 6.31% on the last trading day (Friday, 10th May 2024), rising from $1.11 to $1.18. During the last trading day the stock fluctuated 4.42% from a day low at $1.13 to a day high of $1.18. The price has risen in 6 of the last 10 days and is up by 18% over the past 2 weeks. Volume fell on the last day by -552 shares and in total, 596 shares were bought and sold for approximately $703.28 . 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 -56.52% during the next 3 months and, with a 90% probability hold a price between $0.327 and $0.513 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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PAVS Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 26, 2024, and so far it has risen 18.00%. 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. The Paranovus Entertainment Technology Ltd. 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 $1.33. On a fall, the stock will find some support from the short-term average at $1.10. 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. 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 not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Paranovus Entertainment Technology Ltd. stock
On the downside, the stock finds support just below today's level from accumulated volume at $1.10 and $1.06. 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, Paranovus Entertainment Technology Ltd. finds support just below today's level at $1.10. If this is broken, then the next support from accumulated volume will be at $1.06 and $1.00.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0500 between high and low, or 4.42%. For the last week the stock has had daily average volatility of 5.87%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PAVS) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Paranovus Entertainment Technology Ltd. to open at $1.16, and during the day (based on 14 day Average True Range), to move between $1.06 and $1.30, which gives a possible trading interval of +/-$0.116 (+/-9.84%) up or down from last closing price. If Paranovus Entertainment Technology Ltd. takes out the full calculated possible swing range there will be an estimated 19.68% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.10 (6.78%) than the resistance at $1.34 (13.39%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Paranovus Entertainment Technology Ltd. stock A Buy?
Paranovus Entertainment Technology Ltd. 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: -1.552 Sell Candidate Unchanged
Predicted Opening Price for Paranovus Entertainment Technology Ltd. of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| $1.16 ( 1.41%) | $1.18 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PAVS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.21 | 2.82 % | |
| R2 | 1.19 | 1.21 % | ||
| R1 | 1.18 | 0.206 % | ||
| Current price: | 1.18 | |||
| Support | S1 | 1.14 | -3.03 % | |
| S2 | 1.13 | -4.03 % | ||
| S3 | 1.11 | -5.65 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.43 | 21.19 % | |
| R2 | 1.40 | 18.64 % | ||
| R1 | 1.34 | 13.39 % | ||
| Current price | 1.18 | |||
| Support | S1 | 1.10 | -6.78% | |
| S2 | 1.06 | -10.17% | ||
| S3 | 1.00 | -15.25% |
PAVS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 07, 2020 | Aug 07, 2020 | Aug 17, 2020 | $0.300 | 0.649% |
FAQ
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