Peninsula Energy Limited Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Peninsula Energy Limited stock price ended at $0.120 on Wednesday, after losing 0%.
(Updated on May 08, 2024)
No changes to the price of Peninsula Energy Limited stock on the last trading day (Wednesday, 8th May 2024). During the last trading day the stock fluctuated 6.09% from a day low at $0.115 to a day high of $0.122. The price has risen in 5 of the last 10 days and is up by 20% over the past 2 weeks.
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 -7.23% during the next 3 months and, with a 90% probability hold a price between $0.0886 and $0.117 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
The Peninsula Energy Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.115 and $0.115. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Tuesday, May 07, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while price remained unchanged. This may be an early warning, but it may also not. We still recommend that you pay attention over the next couple of days.
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 $0.0070 between high and low, or 6.09%. For the last week, the stock has had daily average volatility of 7.58%.
Our recommended stop-loss: $0.116 (-3.66%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (PEN.AX) For The Upcoming Trading Day Of Thursday 9th
For the upcoming trading day on Thursday, 9th we expect Peninsula Energy Limited to open at $0.119, 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 +/-$0.0087 (+/-7.21%) up or down from last closing price. If Peninsula Energy Limited takes out the full calculated possible swing range there will be an estimated 14.42% 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: 1.025 Buy Candidate Unchanged
Predicted Opening Price for Peninsula Energy Limited of Thursday, May 9, 2024
| Fair opening price May 9, 2024 | Current price |
|---|---|
| $0.119 ( 0.83%) | $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 | 0.126 | 5.00 % | |
| R2 | 0.123 | 2.77 % | ||
| R1 | 0.122 | 1.40 % | ||
| Current price: | 0.120 | |||
| Support | S1 | 0.116 | -3.06 % | |
| S2 | 0.115 | -4.44 % | ||
| S3 | 0.112 | -6.67 % |
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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