Peninsula Energy Limited Stock Forecast

Red day on Wednesday for Peninsula Energy Limited stock after losing 0%
(Updated on Jul 03, 2024)

PEN.AX 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 Peninsula 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 $0.101 and $0.108. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, June 21, 2024, and so far it has fallen -13.04%. Further fall is indicated until a new bottom pivot has been found. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point".

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

Peninsula Energy Limited finds support from accumulated volume at $0.0980 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 $0.0050 between high and low, or 5.00%. For the last week the stock has had daily average volatility of 5.00%.

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

Trading Expectations (PEN.AX) For The Upcoming Trading Day Of Thursday 4th

For the upcoming trading day on Thursday, 4th we expect Peninsula Energy Limited to open at $0.102, and during the day (based on 14 day Average True Range), to move between $0.0930 and $0.107, which gives a possible trading interval of +/-$0.0070 (+/-7.00%) up or down from last closing price. If Peninsula Energy Limited takes out the full calculated possible swing range there will be an estimated 14.00% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.0980 (2.00%) than the resistance at $0.105 (5.00%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Peninsula Energy Limited stock A Buy?

Peninsula Energy Limited 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: -3.315 Sell Candidate Unchanged

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

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