Pact Group Holdings Ltd Stock Forecast
Red day on Monday for Pact Group Holdings Ltd stock after losing 1.29%
(Updated on Jun 17, 2024)
The Pact Group Holdings Ltd stock price fell by -1.29% on the last day (Monday, 17th Jun 2024) from $0.775 to $0.765. During the last trading day the stock fluctuated 8.50% from a day low at $0.765 to a day high of $0.83. The price has been going up and down for this period, and there has been a -8.93% loss for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -18 thousand shares and in total, 18 thousand shares were bought and sold for approximately $13.91 thousand.
The stock has broken the wide and falling short-term trend down. Firstly a stronger fallrate is indicated, but false breaks and "sell-off" may occur. However, a further fall is realistic and any reactions back to the breaking point ($0.768) are considered to be a "second chance" to get out. According to the fan-theory $0.677 will represent the new bottom line of the next trend, but it is far too early to say this for certain.
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PGH.AX Signals & Forecast
There are few to no technical positive signals at the moment. The Pact Group Holdings Ltd 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 $0.794 and $0.83. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, June 13, 2024, and so far it has fallen -2.55%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Pact Group Holdings Ltd stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $0.0650 between high and low, or 8.50%. For the last week the stock has had daily average volatility of 4.55%.
Pact Group Holdings Ltd is oversold on RSI14 (17). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PGH.AX) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Pact Group Holdings Ltd to open at $0.787, and during the day (based on 14 day Average True Range), to move between $0.750 and $0.780, which gives a possible trading interval of +/-$0.0151 (+/-1.97%) up or down from last closing price. If Pact Group Holdings Ltd takes out the full calculated possible swing range there will be an estimated 3.94% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $0.84, some $0.0750 (9.80%) from the current price of $0.765, our system finds the risk reward not very attractive.
Is Pact Group Holdings Ltd stock A Buy?
Pact Group Holdings Ltd holds several negative signals and is within a 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: -3.734 Sell Candidate Unchanged
Predicted Opening Price for Pact Group Holdings Ltd of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| $0.787 ( 2.83%) | $0.765 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PGH.AX
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.85 | 11.33% |
| R2 | 0.83 | 8.08% |
| R1 | 0.81 | 6.08% |
| Price | 0.765 | |
| S1 | 0.762 | -0.414% |
| S2 | 0.746 | -2.42% |
| S3 | 0.722 | -5.66% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.86 | 11.76% |
| R2 | 0.85 | 10.46% |
| R1 | 0.84 | 9.80% |
| Price | 0.765 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
PGH Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 24, 2022 | Aug 24, 2022 | Aug 24, 2022 | $0.0150 | 0.93% |
| 2 | Feb 24, 2022 | Feb 24, 2022 | Feb 24, 2022 | $0.0350 | 1.44% |
| 3 | Aug 26, 2021 | Aug 26, 2021 | Aug 26, 2021 | $0.0600 | 1.47% |
| 4 | Feb 25, 2021 | Feb 25, 2021 | Feb 25, 2021 | $0.0500 | 1.52% |
| 5 | Aug 27, 2020 | Aug 27, 2020 | Aug 27, 2020 | $0.0300 | 1.28% |
FAQ
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