Platinum Asia Fund (quoted Managed Hedge Trust Forecast
Evaluation of Platinum Asia Fund (quoted Managed Hedge trust downgraded after the last trading session.
(Updated on Jun 26, 2024)
No changes to the price of Platinum Asia Fund (quoted Managed Hedge trust on the last trading day (Wednesday, 26th Jun 2024). During the last trading day the trust fluctuated 0.89% from a day low at $4.47 to a day high of $4.51. The price has fallen in 5 of the last 10 days and is down by -0.67% for this period.
The trust lies in the lower part of a weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $4.43 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the trust is expected to rise 5.11% during the next 3 months and, with a 90% probability hold a price between $4.66 and $5.07 at the end of this 3-month period.
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PAXX.AX Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the trust should be watched more closely at it may be a "turning point". Some negative signals were issued as well, and these may have some influence on the near short-term development. The Platinum Asia Fund (quoted Managed Hedge trust 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 $4.50 and $4.56. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 21, 2024, and so far it has fallen -5.50%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Platinum Asia Fund (quoted Managed Hedge trust
Platinum Asia Fund (quoted Managed Hedge finds support from accumulated volume at $4.40 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the trust tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the trust moved $0.0400 between high and low, or 0.89%. For the last week the trust has had daily average volatility of 0.89%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PAXX.AX) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Platinum Asia Fund (quoted Managed Hedge Fund) to open at $4.48, and during the day (based on 14 day Average True Range), to move between $4.42 and $4.52, which gives a possible trading interval of +/-$0.0454 (+/-1.02%) up or down from last closing price. If Platinum Asia Fund (quoted Managed Hedge Fund) takes out the full calculated possible swing range there will be an estimated 2.03% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $4.49 (0.45%) than the support at $4.40 (1.57%), 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 Fund (quoted Managed Hedge Fund) trust A Buy?
The Platinum Asia Fund (quoted Managed Hedge trust holds several negative signals and despite the positive trend, we believe Platinum Asia Fund (quoted Managed Hedge will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this trust. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this trust since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -3.175 Sell Candidate Downgraded
Predicted Opening Price for Platinum Asia Fund (quoted Managed Hedge Fund) of Thursday, June 27, 2024
Fair opening price June 27, 2024 | Current price |
---|---|
$4.48 ( 0.298%) | $4.47 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PAXX.AX
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 4.52 | 1.19% |
R2 | 4.51 | 0.85% |
R1 | 4.50 | 0.640% |
Price | 4.47 | |
S1 | 4.47 | -0.0435% |
S2 | 4.46 | -0.255% |
S3 | 4.44 | -0.597% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 4.53 | 1.34% |
R2 | 4.50 | 0.671% |
R1 | 4.49 | 0.447% |
Price | 4.47 | |
S1 | 4.40 | -1.57% |
S2 | 4.35 | -2.68% |
S3 | 4.34 | -2.91% |
FAQ
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