Pacific Basin Shipping Limited Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Pacific Basin Shipping Limited stock price ended at $6.58 on Tuesday, after losing 2.53%.
(Updated on Jun 25, 2024)
The Pacific Basin Shipping Limited stock price fell by -2.53% on the last day (Tuesday, 25th Jun 2024) from $6.75 to $6.58. During the last trading day the stock fluctuated 0% from a day low at $6.58 to a day high of $6.58. The price has been going up and down for this period, and there has been a -2.53% loss for the last 2 weeks. Volume has increased on the last day by 2 shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 2 shares were bought and sold for approximately $13.16 .
Given the current short-term trend, the stock is expected to rise 16.82% during the next 3 months and, with a 90% probability hold a price between $7.69 and $9.40 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
PCFBY Signals & Forecast
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 Pacific Basin Shipping Limited 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 $6.73 and $6.98. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, May 09, 2024, and so far it has fallen -11.91%. Further fall is indicated until a new bottom pivot has been found. Pacific Basin Shipping 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". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Pacific Basin Shipping Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at $5.98 and $5.65. 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, Pacific Basin Shipping Limited finds support just below today's level at $5.98. If this is broken, then the next support from accumulated volume will be at $5.65 and $5.55.
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 (0%) between high and low. For the last week, the stock has had daily average volatility of 0%.
Our recommended stop-loss: $6.25 (-5.00%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 59 days ago.)
Trading Expectations (PCFBY) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Pacific Basin Shipping Limited to open at $6.58, and during the day (based on 14 day Average True Range), to move between $6.51 and $6.65, which gives a possible trading interval of +/-$0.0722 (+/-1.10%) up or down from last closing price. If Pacific Basin Shipping Limited takes out the full calculated possible swing range there will be an estimated 2.19% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $7.15 (8.66%) than the support at $5.98 (9.12%), 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 Pacific Basin Shipping Limited stock A Buy?
Pacific Basin Shipping Limited holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Pacific Basin Shipping Limited of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $6.58 ( 0.00000000%) | $6.58 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PCFBY
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 6.58 | 0.00000000% |
| R2 | 6.58 | 0.00000000% |
| R1 | 6.58 | 0.00000000% |
| Price | 6.58 | |
| S1 | 6.58 | 0.00000000% |
| S2 | 6.58 | 0.00000000% |
| S3 | 6.58 | 0.00000000% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7.46 | 13.37% |
| R2 | 7.37 | 12.01% |
| R1 | 7.15 | 8.66% |
| Price | 6.58 | |
| S1 | 5.98 | -9.12% |
| S2 | 5.65 | -14.13% |
| S3 | 5.55 | -15.65% |
PCFBY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 25, 2024 | Apr 25, 2024 | May 24, 2024 | $0.105 | 1.52% |
| 2 | Aug 01, 2023 | Aug 10, 2023 | Sep 11, 2023 | $0.167 | 2.98% |
| 3 | Jul 23, 2023 | Apr 24, 2023 | May 24, 2023 | $0.663 | 10.61% |
| 4 | Aug 02, 2022 | Aug 09, 2022 | Sep 08, 2022 | $1.33 | 19.95% |
| 5 | Apr 14, 2022 | Apr 20, 2022 | May 20, 2022 | $1.99 | 18.89% |
FAQ
Click here for our free guide on how to buy Pacific Basin Shipping Limited Stock.
