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: -4.873Sell 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|
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