Palomar Holdings Inc. Stock Forecast
Palomar Holdings Inc. stock price up 0.420% on Thursday
(Updated on Jun 20, 2024)
The Palomar Holdings Inc. stock price gained 0.420% on the last trading day (Thursday, 20th Jun 2024), rising from $80.97 to $81.31. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.17% from a day low at $80.24 to a day high of $81.98. The price has risen in 6 of the last 10 days but is still down by -2.11% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 16 thousand more shares were traded than the day before. In total, 87 thousand shares were bought and sold for approximately $7.10 million.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 5.36% during the next 3 months and, with a 90% probability hold a price between $82.01 and $93.46 at the end of this 3-month period.
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PLMR Signals & Forecast
Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Palomar Holdings Inc. 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 $82.28 and $83.37. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, May 17, 2024, and so far it has fallen -6.65%. 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).
Support, Risk & Stop-loss for Palomar Holdings Inc. stock
Palomar Holdings Inc. finds support from accumulated volume at $80.82 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $1.74 (2.17%) between high and low. For the last week, the stock has had daily average volatility of 2.76%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PLMR) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect Palomar Holdings Inc. to open at $81.18, and during the day (based on 14 day Average True Range), to move between $78.60 and $84.02, which gives a possible trading interval of +/-$2.71 (+/-3.33%) up or down from last closing price. If Palomar Holdings Inc. takes out the full calculated possible swing range there will be an estimated 6.66% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $80.82 (0.60%) than the resistance at $83.83 (3.10%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Palomar Holdings Inc. stock A Buy?
The Palomar Holdings Inc. stock holds several negative signals and despite the positive trend, we believe Palomar Holdings Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -3.787 Sell Candidate Unchanged
Predicted Opening Price for Palomar Holdings Inc. of Friday, June 21, 2024
| Fair opening price June 21, 2024 | Current price |
|---|---|
| $81.18 ( 0.166%) | $81.31 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PLMR
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 82.92 | 1.98% |
| R2 | 82.25 | 1.16% |
| R1 | 81.84 | 0.654% |
| Price | 81.31 | |
| S1 | 80.51 | -0.99% |
| S2 | 80.10 | -1.49% |
| S3 | 79.43 | -2.31% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 87.10 | 7.12% |
| R2 | 86.86 | 6.83% |
| R1 | 83.83 | 3.10% |
| Price | 81.31 | |
| S1 | 80.82 | -0.603% |
| S2 | 79.50 | -2.23% |
| S3 | 77.97 | -4.11% |
FAQ
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