Patria Latin American Opportunity Stock Forecast

Patria Latin American Opportunity stock price up more than 15.89% on Monday
(Updated on Jun 17, 2024)

PLAOW Signals & Forecast

A buy signal was issued from a pivot bottom point on Friday, June 07, 2024, and so far it has risen 16.28%. Further rise is indicated until a new top pivot has been found. Patria Latin American Opportunity has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. 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. The Patria Latin American Opportunity 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 $0.0578. On a fall, the stock will find some support from the short-term average at $0.0330. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Patria Latin American Opportunity stock

On the downside, the stock finds support just below today's level from accumulated volume at $0.0302 and $0.0301. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $0.0301 may give a huge drop in the stock price.

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 $0.0008 between high and low, or 2.34%. For the last week, the stock has had daily average volatility of 3.80%.

Patria Latin American Opportunity is oversold on RSI14 (24). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: $0.0334 (-4.52%) (This stock has very high daily movements and this gives very high risk. Low RSI14 is 24 which reduces the risk some. There is a buy signal from a pivot bottom found 27 days ago.)

Trading Expectations (PLAOW) For The Upcoming Trading Day Of Tuesday 18th

For the upcoming trading day on Tuesday, 18th we expect Patria Latin American Opportunity Acquisition Corp. to open at $0.0347, and during the day (based on 14 day Average True Range), to move between $0.0248 and $0.0452, which gives a possible trading interval of +/-$0.0102 (+/-29.03%) up or down from last closing price. If Patria Latin American Opportunity Acquisition Corp. takes out the full calculated possible swing range there will be an estimated 58.05% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.0351 (0.29%) than the support at $0.0302 (13.71%), 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 Patria Latin American Opportunity Acquisition Corp. stock A Buy?

Patria Latin American Opportunity 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: 0.000 Hold/Accumulate Upgraded

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Patria Latin American Opportunity Acquisition Corp. of Tuesday, June 18, 2024

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