Polski Koncern Naftowy ORLEN Spólka Stock Forecast

Green day on Wednesday for Polski Koncern Naftowy ORLEN Spólka
(Updated on Jun 19, 2024)

PKN.WA Signals & Forecast

A buy signal was issued from a pivot bottom point on Thursday, June 13, 2024, and so far it has risen 5.46%. 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). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Polski Koncern Naftowy ORLEN Spólka stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at 66.24zł. On a fall, the stock will find some support from the short-term average at 63.56zł. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.

Support, Risk & Stop-loss for Polski Koncern Naftowy ORLEN Spólka stock

Polski Koncern Naftowy ORLEN Spólka finds support from accumulated volume at 65.19zł and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved 1.30zł between high and low, or 2.02%. For the last week, the stock has had daily average volatility of 1.84%.

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

Trading Expectations (PKN.WA) For The Upcoming Trading Day Of Thursday 20th

For the upcoming trading day on Thursday, 20th we expect Polski Koncern Naftowy ORLEN Spólka Akcyjna to open at 65.32zł, and during the day (based on 14 day Average True Range), to move between 64.21zł and 67.09zł, which gives a possible trading interval of +/-1.44zł (+/-2.20%) up or down from last closing price. If Polski Koncern Naftowy ORLEN Spólka Akcyjna takes out the full calculated possible swing range there will be an estimated 4.39% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at 65.19zł (0.70%) than the resistance at 66.18zł (0.81%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Polski Koncern Naftowy ORLEN Spólka Akcyjna stock A Buy?

Polski Koncern Naftowy ORLEN Spólka 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.

Current score: -1.306 Sell Candidate Unchanged

Predicted Opening Price for Polski Koncern Naftowy ORLEN Spólka Akcyjna of Thursday, June 20, 2024

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