Peninsula Energy Limited Stock Forecast
Peninsula Energy Limited stock price up 4.35% on Tuesday
(Updated on May 07, 2024)
The Peninsula Energy Limited stock price gained 4.35% on the last trading day (Tuesday, 7th May 2024), rising from $0.115 to $0.120. During the last trading day the stock fluctuated 9.09% from a day low at $0.110 to a day high of $0.120. The price has risen in 5 of the last 10 days and is up by 14.29% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 12 million more shares were traded than the day before. In total, 15 million shares were bought and sold for approximately $1.79 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -9.13% during the next 3 months and, with a 90% probability hold a price between $0.0862 and $0.120 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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PEN.AX Signals & Forecast
Mostly positive signals in the chart today. The Peninsula Energy Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $0.113 and $0.114. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 22.45%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Peninsula Energy Limited stock
Peninsula Energy Limited finds support from accumulated volume at $0.115 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 $0.0100 between high and low, or 9.09%. For the last week, the stock has had daily average volatility of 9.22%.
Our recommended stop-loss: $0.116 (-3.64%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 14 days ago.)
Trading Expectations (PEN.AX) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Peninsula Energy Limited to open at $0.117, and during the day (based on 14 day Average True Range), to move between $0.111 and $0.129, which gives a possible trading interval of +/-$0.0088 (+/-7.33%) up or down from last closing price. If Peninsula Energy Limited takes out the full calculated possible swing range there will be an estimated 14.66% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.115 (4.17%) than the resistance at $0.125 (4.17%), 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?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 3.674 Buy Candidate Unchanged
Predicted Opening Price for Peninsula Energy Limited of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| $0.117 ( 2.78%) | $0.120 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PEN.AX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.127 | 5.56 % | |
| R2 | 0.123 | 2.37 % | ||
| R1 | 0.120 | 0.406 % | ||
| Current price: | 0.120 | |||
| Support | S1 | 0.113 | -5.96 % | |
| S2 | 0.110 | -7.93 % | ||
| S3 | 0.107 | -11.11 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.135 | 12.50 % | |
| R2 | 0.130 | 8.33 % | ||
| R1 | 0.125 | 4.17 % | ||
| Current price | 0.120 | |||
| Support | S1 | 0.115 | -4.17% | |
| S2 | 0.110 | -8.33% | ||
| S3 | 0.105 | -12.50% |
FAQ
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