ParcelPal Technology Inc. Stock Forecast

ParcelPal Technology Inc. stock price down 0% on Friday
(Updated on May 10, 2024)

PKG.CN Signals & Forecast

The ParcelPal Technology Inc. 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 $0.0621. On a fall, the stock will find some support from the long-term average at approximately $0.0454. 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. Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". 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 Wednesday, May 08, 2024, and so far it has fallen -37.50%. 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).

Support, Risk & Stop-loss for ParcelPal Technology Inc. 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 may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.0050 between high and low, or 10.00%. For the last week, the stock has had daily average volatility of 29.92%.

Our recommended stop-loss: $0.0469 (-6.30%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 2 days ago.)

Trading Expectations (PKG.CN) For The Upcoming Trading Day Of Monday 13th

For the upcoming trading day on Monday, 13th we expect ParcelPal Technology Inc. to open at $0.0517, and during the day (based on 14 day Average True Range), to move between $0.0389 and $0.0611, which gives a possible trading interval of +/-$0.0111 (+/-22.21%) up or down from last closing price. If ParcelPal Technology Inc. takes out the full calculated possible swing range there will be an estimated 44.43% move between the lowest and the highest trading price during the day.

With no support below and resistance from accumulated volume @ $0.0550, some $0.0050 (10.00%) from the current price of $0.0500, our system finds the risk reward not very attractive.

Is ParcelPal Technology Inc. stock A Buy?

ParcelPal Technology Inc. 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: 0.472 Hold/Accumulate Unchanged

Predicted Opening Price for ParcelPal Technology Inc. of Monday, May 13, 2024

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