Pancontinental Oil & Gas NL Stock Forecast

Pancontinental Oil & Gas NL stock price ended at A$0.0210 on Monday, after losing 4.55%.
(Updated on Jun 24, 2024)

PCL.AX Signals & Forecast

A buy signal was issued from a pivot bottom point on Thursday, June 20, 2024, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Pancontinental Oil & Gas NL 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 A$0.0219 and A$0.0234. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Pancontinental Oil & Gas NL stock

There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.

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 A$0.0010 between high and low, or 4.76%. For the last week the stock has had daily average volatility of 5.77%.

Pancontinental Oil & Gas NL is oversold on RSI14 (29). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (PCL.AX) For The Upcoming Trading Day Of Tuesday 25th

For the upcoming trading day on Tuesday, 25th we expect Pancontinental Oil & Gas NL to open at A$0.0213, and during the day (based on 14 day Average True Range), to move between A$0.0197 and A$0.0223, which gives a possible trading interval of +/-A$0.0013 (+/-6.05%) up or down from last closing price. If Pancontinental Oil & Gas NL takes out the full calculated possible swing range there will be an estimated 12.10% move between the lowest and the highest trading price during the day.

With no support below and resistance from accumulated volume @ A$0.0230, some A$0.0020 (9.52%) from the current price of A$0.0210, our system finds the risk reward not very attractive.

Is Pancontinental Oil & Gas NL stock A Buy?

Pancontinental Oil & Gas NL 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: -1.967 Sell Candidate Unchanged

Predicted Opening Price for Pancontinental Oil & Gas NL of Tuesday, June 25, 2024

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