Photomyne Ltd Stock Forecast

Photomyne Ltd stock downgraded from Hold/Accumulate to Sell Candidate after Thursday trading session.
(Updated on Jun 20, 2024)

PHTM.TA Signals & Forecast

The Photomyne Ltd stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ₪2,281.00. On a fall, the stock will find some support from the long-term average at approximately ₪2,211.26. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 Monday, June 17, 2024, and so far it has fallen -3.86%. 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 on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Photomyne Ltd stock

Photomyne Ltd finds support from accumulated volume at ₪2,205.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved ₪0 between high and low, or 0%. For the last week the stock has had daily average volatility of 2.25%

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (PHTM.TA) For The Upcoming Trading Day Of Friday 21st

For the upcoming trading day on Friday, 21st we expect Photomyne Ltd to open at ₪2,239.00, and during the day (based on 14 day Average True Range), to move between ₪2,185.41 and ₪2,292.59, which gives a possible trading interval of +/-₪53.59 (+/-2.39%) up or down from last closing price. If Photomyne Ltd takes out the full calculated possible swing range there will be an estimated 4.79% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ₪2,263.00 (1.07%) than the support at ₪2,205.00 (1.52%), 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 Photomyne Ltd stock A Buy?

Photomyne Ltd holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -1.671 Sell Candidate Downgraded

Predicted Opening Price for Photomyne Ltd of Friday, June 21, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.