Peninsula Energy Limited Stock Forecast
Strong day for Peninsula Energy Limited stock price on Friday rising 6.85% to $0.0780
(Updated on May 10, 2024)
The Peninsula Energy Limited stock price gained 6.85% on the last trading day (Friday, 10th May 2024), rising from $0.0730 to $0.0780. During the last trading day the stock fluctuated 6.85% from a day low at $0.0730 to a day high of $0.0780. The price has been going up and down for this period, and there has been a 11.43% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 449 thousand more shares were traded than the day before. In total, 568 thousand shares were bought and sold for approximately $44.31 thousand.
The stockhas broken the wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $0.0776, a level that may pose a second chance to hit a runner. According to fan-theory $0.0930 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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PENMF 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 $0.0749 and $0.0742. 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). Peninsula Energy Limited has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. 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.
Support, Risk & Stop-loss for Peninsula Energy Limited stock
Peninsula Energy Limited finds support from accumulated volume at $0.0750 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.0050 between high and low, or 6.85%. For the last week, the stock has had daily average volatility of 13.66%.
Our recommended stop-loss: $0.0751 (-3.70%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 3 days ago.)
Trading Expectations (PENMF) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Peninsula Energy Limited to open at $0.0763, and during the day (based on 14 day Average True Range), to move between $0.0700 and $0.0860, which gives a possible trading interval of +/-$0.0080 (+/-10.23%) up or down from last closing price. If Peninsula Energy Limited takes out the full calculated possible swing range there will be an estimated 20.47% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0790 (1.28%) than the support at $0.0750 (3.85%), 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 Peninsula Energy Limited stock A Buy?
Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 1.117 Buy Candidate Upgraded
Predicted Opening Price for Peninsula Energy Limited of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| $0.0763 ( 2.14%) | $0.0780 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PENMF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0813 | 4.27 % | |
| R2 | 0.0794 | 1.82 % | ||
| R1 | 0.0782 | 0.312 % | ||
| Current price: | 0.0780 | |||
| Support | S1 | 0.0744 | -4.59 % | |
| S2 | 0.0732 | -6.10 % | ||
| S3 | 0.0713 | -8.55 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0841 | 7.82 % | |
| R2 | 0.0800 | 2.56 % | ||
| R1 | 0.0790 | 1.28 % | ||
| Current price | 0.0780 | |||
| Support | S1 | 0.0750 | -3.85% | |
| S2 | 0.0710 | -8.97% | ||
| S3 | 0.0645 | -17.31% |
FAQ
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