Paladin Energy Limited Stock Forecast

Strong day for Paladin Energy Limited stock price on Wednesday rising 6.13% to $13.15
(Updated on Jul 03, 2024)

PDN.AX Signals & Forecast

Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Paladin Energy Limited stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $14.73. On a fall, the stock will find some support from the short-term average at $12.56. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Tuesday, May 21, 2024, and so far it has fallen -26.12%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for Paladin Energy Limited stock

Paladin Energy Limited finds support from accumulated volume at $12.56 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

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 $0.785 between high and low, or 6.33%. For the last week, the stock has had daily average volatility of 3.97%.

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 Thursday 4th

For the upcoming trading day on Thursday, 4th we expect Paladin Energy Limited to open at $12.91, and during the day (based on 14 day Average True Range), to move between $12.63 and $13.67, which gives a possible trading interval of +/-$0.517 (+/-3.93%) up or down from last closing price. If Paladin Energy Limited takes out the full calculated possible swing range there will be an estimated 7.86% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $13.24 (0.68%) than the support at $12.56 (4.49%), 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 Paladin Energy Limited stock A Buy?

Paladin Energy Limited holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.

Current score: -1.288 Sell Candidate Unchanged

Predicted Opening Price for Paladin Energy Limited of Thursday, July 4, 2024

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