Paladin Energy Limited Stock Forecast
Paladin Energy Limited stock price down 1.04% on Tuesday
(Updated on Jul 02, 2024)
The Paladin Energy Limited stock price fell by -1.04% on the last day (Tuesday, 2nd Jul 2024) from $12.52 to $12.39. During the last trading day the stock fluctuated 1.87% from a day low at $12.27 to a day high of $12.50. The price has fallen in 5 of the last 10 days and is down by -8.56% for this period. Volume has increased on the last day by 66 thousand 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 million shares were bought and sold for approximately $28.04 million.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $10.72 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 stock is expected to rise 97.18% during the next 3 months and, with a 90% probability hold a price between $21.15 and $45.61 at the end of this 3-month period.
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PDN.AX Signals & Forecast
There are few to no technical positive signals at the moment. The Paladin Energy 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 $12.57 and $14.82. 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 -30.39%. 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). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Paladin Energy Limited 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 may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.230 between high and low, or 1.87%. For the last week, the stock has had daily average volatility of 3.35%.
Paladin Energy Limited is oversold on RSI14 (15). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PDN.AX) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Paladin Energy Limited to open at $12.39, and during the day (based on 14 day Average True Range), to move between $11.90 and $12.88, which gives a possible trading interval of +/-$0.494 (+/-3.98%) up or down from last closing price. If Paladin Energy Limited takes out the full calculated possible swing range there will be an estimated 7.97% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $12.42, some $0.0300 (0.24%) from the current price of $12.39, our system finds the risk reward not very attractive.
Is Paladin Energy Limited stock A Buy?
The Paladin Energy Limited stock holds several negative signals and despite the positive trend, we believe Paladin Energy Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.496 Sell Candidate Unchanged
Predicted Opening Price for Paladin Energy Limited of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $12.39 ( 0.0269%) | $12.39 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PDN.AX
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 12.62 | 1.83% |
| R2 | 12.53 | 1.12% |
| R1 | 12.47 | 0.682% |
| Price | 12.39 | |
| S1 | 12.30 | -0.736% |
| S2 | 12.24 | -1.17% |
| S3 | 12.16 | -1.88% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 13.24 | 6.86% |
| R2 | 12.56 | 1.37% |
| R1 | 12.42 | 0.242% |
| Price | 12.39 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
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