Plum Acquisition Corp. I Stock Forecast

Big movements in Plum Acquisition Corp. I stock price on Thursday moving 78.25% between high and low
(Updated on Jun 20, 2024)

PLMIW 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 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 $0.171 and $0.246. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, June 18, 2024, and so far it has fallen -34.37%. Further fall is indicated until a new bottom pivot has been found. Plum Acquisition Corp. I gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Plum Acquisition Corp. I stock

Plum Acquisition Corp. I finds support from accumulated volume at $0.160 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 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 $0.110 between high and low, or 78.25%. For the last week, the stock has had daily average volatility of 53.40%.

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 Friday 21st

For the upcoming trading day on Friday, 21st we expect Plum Acquisition Corp. I to open at $0.185, and during the day (based on 14 day Average True Range), to move between $0.0815 and $0.246, which gives a possible trading interval of +/-$0.0825 (+/-50.29%) 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 100.58% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.160 (2.44%) than the resistance at $0.170 (3.66%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Sell candidate.

Current score: -7.641 Strong Sell Candidate Downgraded

Predicted Opening Price for Plum Acquisition Corp. I of Friday, June 21, 2024

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