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$1.73 (-3.35%)

Volume: 879k

Closed: Jan 21, 2022

Hollow Logo Score: -4.873

Platinum Group Metals Ltd Stock Forecast

$1.73 (-3.35%)

Volume: 879k

Closed: Jan 21, 2022

Score Hollow Logo -4.873
Which way will PLG go? Request
Key Stats
Beta 2.04
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
RSImin/max Values: [ 25 - 75 ] RSI14 is 56 and the stock is currently not being overbought or oversold

Red day on Friday for Platinum Group Metals Ltd
(Updated on Jan 21, 2022)


Sell candidate since 2022-01-20 Loss -3.35% PDF

The Platinum Group Metals Ltd stock price fell by -3.35% on the last day (Friday, 21st Jan 2022) from $1.79 to $1.73. and has now fallen 3 days in a row. During the day the stock fluctuated 7.78% from a day low at $1.67 to a day high of $1.80. The price has fallen in 5 of the last 10 days, but is still up by 8.12% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -1 million shares and in total, 879 thousand shares were bought and sold for approximately $1.52 million.

The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -36.85% during the next 3 months and, with a 90% probability hold a price between $0.82 and $1.34 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.

Signals & Forecast

Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Platinum Group Metals 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 $1.74 and $1.81. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, January 19, 2022, and so far it has fallen -12.63%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

Support, Risk & Stop-loss

Platinum Group Metals Ltd finds support from accumulated volume at $1.72 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.13 between high and low, or 7.78%. For the last week, the stock has had a daily average volatility of 12.13%.

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

Is Platinum Group Metals Ltd stock A Buy?

Platinum Group Metals Ltd holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.

Current score: -4.873

Sell Candidate Unchanged

Predicted Opening Price for Platinum Group Metals Ltd of Monday, January 24, 2022

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

Fair opening price January 24, 2022 Current price
$1.73 $1.73 (Undervalued)

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Volatility and Risk
Daily Average Volatility: 12.13 %
Overall Risk: Very High High Medium Low Very Low
Volatility
12.13 %
Daily Average Volatility
Overall Risk

Very High
High
Medium
Low
Very Low

Support & Resistance

Resistance: $1.79
Price: $1.73
Support: $1.72

Fibonacci Support & Resistance Levels

Level Price Change
Resistance 1.86 7.71 %
1.81 4.84 %
1.78 3.06 %
Current price: 1.73
Support 1.68 -2.68 %
1.65 -4.45 %
1.60 -7.32 %

Accumulated Volume Support & Resistance Levels

Level Price Chg %
Resistance 1.98 14.45 %
1.81 4.62 %
1.79 3.47 %
Current price 1.73
Support 1.72 -0.58%
1.69 -2.31%
1.58 -8.67%

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About Platinum Group Metals Ltd

Platinum Group Metals Ltd. operates as a platinum-focused exploration and development company in the Republic of South Africa and Canada. It primarily explores for platinum, palladium, rhodium, gold, ruthenium, iridium, nickel, copper, chromium, and vanadium deposits. The company’s key development project and exploration targets are located in the Bushveld Complex in South Africa. Platinum Group Metals Ltd. is headquartered in Vancouver, Canada.... Read more

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