Pengana Capital Group Limited Stock Forecast

Pengana Capital Group Limited stock price ended at $0.89 on Friday, after losing 1.11%.
(Updated on May 24, 2024)

PCG.AX Signals & Forecast

The Pengana Capital Group Limited stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $0.90. On a fall, the stock will find some support from the long-term average at approximately $0.87. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 7.88%. 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 along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Pengana Capital Group Limited stock

Pengana Capital Group Limited finds support from accumulated volume at $0.88 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0150 between high and low, or 1.71%. For the last week the stock has had daily average volatility of 2.14%.

Our recommended stop-loss: $0.85 (-3.98%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 57 days ago.)

Trading Expectations (PCG.AX) For The Upcoming Trading Day Of Monday 27th

For the upcoming trading day on Monday, 27th we expect Pengana Capital Group Limited to open at $0.89, and during the day (based on 14 day Average True Range), to move between $0.87 and $0.91, which gives a possible trading interval of +/-$0.0230 (+/-2.58%) up or down from last closing price. If Pengana Capital Group Limited takes out the full calculated possible swing range there will be an estimated 5.17% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.90 (0.56%) than the support at $0.88 (1.12%), 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 Pengana Capital Group Limited stock A Buy?

Pengana Capital Group Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: -0.735 Hold/Accumulate Unchanged

Predicted Opening Price for Pengana Capital Group Limited of Monday, May 27, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.