Photomyne Ltd Stock Forecast
Evaluation of Photomyne Ltd stock downgraded after the last trading session.
(Updated on Jun 26, 2024)
The Photomyne Ltd stock price fell by -3.55% on the last day (Wednesday, 26th Jun 2024) from ₪2,225.00 to ₪2,146.00. During the last trading day the stock fluctuated 3.92% from a day low at ₪2,141.00 to a day high of ₪2,225.00. The price has been going up and down for this period, and there has been a -6.53% loss for the last 2 weeks. Volume has increased on the last day by 102 shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 106 shares were bought and sold for approximately ₪227.48 thousand.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 2.61% during the next 3 months and, with a 90% probability hold a price between ₪2,039.42 and ₪2,397.22 at the end of this 3-month period.
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PHTM.TA Signals & Forecast
There are few to no technical positive signals at the moment. The Photomyne 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 ₪2,228.43 and ₪2,228.80. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, June 17, 2024, and so far it has fallen -7.86%. 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). Photomyne Ltd gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for Photomyne Ltd stock
Photomyne Ltd finds support from accumulated volume at ₪2,142.00 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 with good liquidity the risk is considered very low in this stock. During the last day, the stock moved ₪84.00 between high and low, or 3.92%. For the last week the stock has had daily average volatility of 1.51%.
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 Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Photomyne Ltd to open at ₪2,170.67, and during the day (based on 14 day Average True Range), to move between ₪2,094.77 and ₪2,197.23, which gives a possible trading interval of +/-₪51.23 (+/-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 4.77% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₪2,142.00 (0.19%) than the resistance at ₪2,205.00 (2.75%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Photomyne Ltd stock A Buy?
The Photomyne Ltd stock holds several negative signals and despite the positive trend, we believe Photomyne Ltd will perform weakly in the next couple of days or weeks. Therefore, we 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: -3.327 Sell Candidate Downgraded
Predicted Opening Price for Photomyne Ltd of Thursday, June 27, 2024
Fair opening price June 27, 2024 | Current price |
---|---|
₪2,170.67 ( 1.15%) | ₪2,146.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PHTM.TA
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 2,254.67 | 5.06% |
R2 | 2,222.58 | 3.57% |
R1 | 2,202.75 | 2.64% |
Price | 2,146.00 | |
S1 | 2,138.58 | -0.346% |
S2 | 2,118.75 | -1.27% |
S3 | 2,086.67 | -2.76% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 2,283.00 | 6.38% |
R2 | 2,272.00 | 5.87% |
R1 | 2,205.00 | 2.75% |
Price | 2,146.00 | |
S1 | 2,142.00 | -0.186% |
S2 | 2,065.00 | -3.77% |
S3 | 2,006.00 | -6.52% |
FAQ
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