Palomar Holdings Inc. Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Stronger technical forecast for Palomar Holdings Inc. stock price after Wednesday trading.
(Updated on Jul 03, 2024)
The Palomar Holdings Inc. stock price fell by -0.158% on the last day (Wednesday, 3rd Jul 2024) from $82.40 to $82.27. During the last trading day the stock fluctuated 1.73% from a day low at $81.13 to a day high of $82.53. The price has been going up and down for this period, and there has been a 1.61% gain for the last 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 -45 thousand shares and in total, 69 thousand shares were bought and sold for approximately $5.67 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 5.38% during the next 3 months and, with a 90% probability hold a price between $82.61 and $94.19 at the end of this 3-month period.
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PLMR Signals & Forecast
There are mixed signals in the stock today. The Palomar Holdings Inc. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $82.88. On a fall, the stock will find some support from the short-term average at $81.13. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Monday, July 01, 2024, and so far it has fallen -1.12%. 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 together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
A sell signal from a double top formation was found on Friday, June 07, 2024 and based on theory for this formation the price should fall by -5.99% to $77.35 within 14 trading days (Friday, June 28, 2024) since signal was issued.
Support, Risk & Stop-loss for Palomar Holdings Inc. stock
Palomar Holdings Inc. finds support from accumulated volume at $81.15 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $1.40 between high and low, or 1.73%. For the last week, the stock has had daily average volatility of 2.60%.
Our recommended stop-loss: $78.56 (-4.52%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 5 days ago.)
Trading Expectations (PLMR) For The Upcoming Trading Day Of Friday 5th
For the upcoming trading day on Friday, 5th we expect Palomar Holdings Inc. to open at $81.98, and during the day (based on 14 day Average True Range), to move between $79.78 and $84.76, which gives a possible trading interval of +/-$2.49 (+/-3.02%) up or down from last closing price. If Palomar Holdings Inc. takes out the full calculated possible swing range there will be an estimated 6.04% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $81.15 (1.36%) than the resistance at $84.34 (2.52%), 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?
Palomar Holdings Inc. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.701 Hold/Accumulate Upgraded
Predicted Opening Price for Palomar Holdings Inc. of Friday, July 5, 2024
| Fair opening price July 5, 2024 | Current price |
|---|---|
| $81.98 ( 0.357%) | $82.27 |
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 | 83.38 | 1.35% |
| R2 | 82.84 | 0.695% |
| R1 | 82.51 | 0.294% |
| Price | 82.27 | |
| S1 | 81.44 | -1.01% |
| S2 | 81.11 | -1.41% |
| S3 | 80.58 | -2.06% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 87.10 | 5.87% |
| R2 | 86.86 | 5.58% |
| R1 | 84.34 | 2.52% |
| Price | 82.27 | |
| S1 | 81.15 | -1.36% |
| S2 | 80.82 | -1.76% |
| S3 | 78.16 | -5.00% |
FAQ
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