Plum Acquisition Corp. I Stock Forecast
Big movements in Plum Acquisition Corp. I stock price on Tuesday moving 89.62% between high and low
(Updated on Jul 02, 2024)
The Plum Acquisition Corp. I stock price gained 59.80% on the last trading day (Tuesday, 2nd Jul 2024), rising from $0.0500 to $0.0799. During the last trading day the stock fluctuated 89.62% from a day low at $0.0501 to a day high of $0.0950. The price has fallen in 6 of the last 10 days and is down by -20.89% for this period. Volume fell on the last day by -131 thousand shares and in total, 17 thousand shares were bought and sold for approximately $1.35 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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. Due to the high volatility and the trend direction we are not able to give forecast range for this stock. 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.
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PLMIW Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, July 01, 2024, and so far it has risen 59.80%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Plum Acquisition Corp. I 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 $0.0888 and $0.171. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Plum Acquisition Corp. I 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 periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.0449 between high and low, or 89.62%. For the last week the stock has had daily average volatility of 57.84%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PLMIW) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Plum Acquisition Corp. I to open at $0.0750, and during the day (based on 14 day Average True Range), to move between $0.0084 and $0.151, which gives a possible trading interval of +/-$0.0715 (+/-89.48%) up or down from last closing price. If Plum Acquisition Corp. I takes out the full calculated possible swing range there will be an estimated 178.96% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $0.0840, some $0.0041 (5.13%) from the current price of $0.0799, our system finds the risk reward not very attractive.
Is Plum Acquisition Corp. I stock A Buy?
Plum Acquisition Corp. I 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -3.881 Sell Candidate Upgraded
Predicted Opening Price for Plum Acquisition Corp. I of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $0.0750 ( 6.13%) | $0.0799 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PLMIW
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.120 | 50.06% |
| R2 | 0.103 | 28.60% |
| R1 | 0.0922 | 15.33% |
| Price | 0.0799 | |
| S1 | 0.0578 | -27.60% |
| S2 | 0.0473 | -40.86% |
| S3 | 0.0301 | -62.33% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0851 | 6.51% |
| R2 | 0.0850 | 6.38% |
| R1 | 0.0840 | 5.13% |
| Price | 0.0799 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
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