Pantera Minerals Limited Stock Forecast
Green day on Monday for Pantera Minerals Limited
(Updated on May 20, 2024)
The Pantera Minerals Limited stock price gained 4.08% on the last trading day (Monday, 20th May 2024), rising from $0.0490 to $0.0510. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 8.33% from a day low at $0.0480 to a day high of $0.0520. The price has risen in 6 of the last 10 days and is up by 34.21% over the past 2 weeks. Volume fell on the last day by -1 million shares and in total, 617 thousand shares were bought and sold for approximately $31.47 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
Given the current short-term trend, the stock is expected to fall -19.31% during the next 3 months and, with a 90% probability hold a price between $0.0258 and $0.0412 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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PFE.AX Signals & Forecast
The Pantera Minerals 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 $0.0427 and $0.0403. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 23, 2024, and so far it has risen 41.67%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Pantera Minerals Limited stock
Pantera Minerals Limited finds support from accumulated volume at $0.0490 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 periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0040 between high and low, or 8.33%. For the last week the stock has had daily average volatility of 7.05%.
Our recommended stop-loss: $0.0495 (-3.00%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 32 days ago.)
Trading Expectations (PFE.AX) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Pantera Minerals Limited to open at $0.0503, and during the day (based on 14 day Average True Range), to move between $0.0483 and $0.0537, which gives a possible trading interval of +/-$0.0027 (+/-5.26%) up or down from last closing price. If Pantera Minerals Limited takes out the full calculated possible swing range there will be an estimated 10.52% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0490 (3.92%) than the resistance at $0.0530 (3.92%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Pantera Minerals Limited stock A Buy?
Pantera Minerals Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Pantera Minerals Limited of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| $0.0503 ( 1.31%) | $0.0510 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PFE.AX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0543 | 6.54 % | |
| R2 | 0.0528 | 3.54 % | ||
| R1 | 0.0519 | 1.69 % | ||
| Current price: | 0.0510 | |||
| Support | S1 | 0.0488 | -4.30 % | |
| S2 | 0.0479 | -6.15 % | ||
| S3 | 0.0463 | -9.15 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0550 | 7.84 % | |
| R2 | 0.0540 | 5.88 % | ||
| R1 | 0.0530 | 3.92 % | ||
| Current price | 0.0510 | |||
| Support | S1 | 0.0490 | -3.92% | |
| S2 | 0.0440 | -13.73% | ||
| S3 | 0.0400 | -21.57% |
FAQ
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