Permian Basin Royalty Trust Stock Forecast
Permian Basin Royalty Trust stock price ended at $11.58 on Thursday, after gaining 0.347%.
(Updated on Apr 18, 2024)
The Permian Basin Royalty Trust stock price gained 0.347% on the last trading day (Thursday, 18th Apr 2024), rising from $11.54 to $11.58. During the last trading day the stock fluctuated 3.20% from a day low at $11.33 to a day high of $11.69. The price has fallen in 8 of the last 10 days and is down by -10.23% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 15 thousand more shares were traded than the day before. In total, 117 thousand shares were bought and sold for approximately $1.36 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -17.07% during the next 3 months and, with a 90% probability hold a price between $8.07 and $11.15 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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PBT Signals & Forecast
Permian Basin Royalty Trust has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Permian Basin Royalty Trust 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 $12.00 and $12.53. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 20, 2024, and so far it has fallen -19.25%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Permian Basin Royalty Trust stock
Permian Basin Royalty Trust finds support from accumulated volume at $11.55 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.362 between high and low, or 3.20%. For the last week, the stock has had daily average volatility of 4.01%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PBT) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Permian Basin Royalty Trust to open at $11.53, and during the day (based on 14 day Average True Range), to move between $11.07 and $12.09, which gives a possible trading interval of +/-$0.512 (+/-4.42%) up or down from last closing price. If Permian Basin Royalty Trust takes out the full calculated possible swing range there will be an estimated 8.84% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $11.55 (0.26%) than the resistance at $12.04 (3.97%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Permian Basin Royalty Trust stock A Buy?
Permian Basin Royalty Trust holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -3.933 Sell Candidate Unchanged
Predicted Opening Price for Permian Basin Royalty Trust of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $11.53 ( 0.409%) | $11.58 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PBT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.89 | 2.72 % | |
| R2 | 11.76 | 1.52 % | ||
| R1 | 11.67 | 0.785 % | ||
| Current price: | 11.58 | |||
| Support | S1 | 11.39 | -1.60 % | |
| S2 | 11.31 | -2.34 % | ||
| S3 | 11.17 | -3.53 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 14.34 | 23.83 % | |
| R2 | 13.12 | 13.30 % | ||
| R1 | 12.04 | 3.97 % | ||
| Current price | 11.58 | |||
| Support | S1 | 11.55 | -0.259% | |
| S2 | 11.54 | -0.345% | ||
| S3 | 11.16 | -3.63% |
PBT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 18, 2024 | Mar 27, 2024 | Apr 12, 2024 | $0.0413 | 0.339% |
| 2 | Feb 16, 2024 | Feb 28, 2024 | Mar 14, 2024 | $0.0455 | 0.353% |
| 3 | Jan 30, 2024 | Jan 30, 2024 | Feb 14, 2024 | $0.0310 | 0.233% |
| 4 | Dec 18, 2023 | Dec 28, 2023 | Jan 16, 2024 | $0.106 | 0.743% |
| 5 | Nov 17, 2023 | Nov 29, 2023 | Dec 14, 2023 | $0.157 | 1.03% |
FAQ
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