Plum Acquisition Corp. I Stock Forecast

A very red day for Plum Acquisition Corp. I stock price after a -24.91% fall in the Wednesday trading session
(Updated on Jul 03, 2024)

PLMIW Signals & Forecast

There are few to no technical positive signals at the moment. 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 $0.0853 and $0.162. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, July 02, 2024, and so far it has fallen -24.91%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.

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

On the downside, the stock finds support just below today's level from accumulated volume at $0.0500. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $ may give a huge drop in the stock price.

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 between high and low, or 0%. For the last week the stock has had daily average volatility of 48.17%.

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 5th

For the upcoming trading day on Friday, 5th we expect Plum Acquisition Corp. I to open at $0.0600, and during the day (based on 14 day Average True Range), to move between -$0.0087 and $0.129, which gives a possible trading interval of +/-$0.0687 (+/-114.47%) 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 228.94% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $0.0500, some $0.0100 (16.67%) from the current price of $0.0600, our system finds the risk reward 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.

Current score: -6.238 Strong Sell Candidate Downgraded

Predicted Opening Price for Plum Acquisition Corp. I of Friday, July 5, 2024

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