Palram Industries (1990) Ltd Stock Forecast
Green day on Thursday for Palram Industries (1990) Ltd
(Updated on Jun 27, 2024)
The Palram Industries (1990) Ltd stock price gained 1.92% on the last trading day (Thursday, 27th Jun 2024), rising from ₪4,954.00 to ₪5,049.00. 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 4.23% from a day low at ₪4,891.00 to a day high of ₪5,098.00. The price has fallen in 5 of the last 10 days and is down by -0.71% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 29 thousand more shares were traded than the day before. In total, 44 thousand shares were bought and sold for approximately ₪220.05 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Palram Industries (1990) Ltd stock with a 90% probability to be traded between ₪4,504.67 and ₪5,416.55 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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PLRM.TA Signals & Forecast
The Palram Industries (1990) Ltd stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at ₪4,886.00 and ₪4,959.97. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Tuesday, June 04, 2024, and so far it has fallen -5.50%. 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 Palram Industries (1990) Ltd stock
Palram Industries (1990) Ltd finds support from accumulated volume at ₪4,968.00 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 ₪207.00 between high and low, or 4.23%. For the last week, the stock has had daily average volatility of 2.14%.
Our recommended stop-loss: ₪4,732.93 (-6.26%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 40 days ago.)
Trading Expectations (PLRM.TA) For The Upcoming Trading Day Of Friday 28th
For the upcoming trading day on Friday, 28th we expect Palram Industries (1990) Ltd to open at ₪5,012.67, and during the day (based on 14 day Average True Range), to move between ₪4,930.59 and ₪5,167.41, which gives a possible trading interval of +/-₪118.41 (+/-2.35%) up or down from last closing price. If Palram Industries (1990) Ltd takes out the full calculated possible swing range there will be an estimated 4.69% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₪5,069.00 (0.40%) than the support at ₪4,968.00 (1.60%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Palram Industries (1990) Ltd stock A Buy?
Palram Industries (1990) Ltd 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.
Current score: -0.136 Hold/Accumulate Unchanged
Predicted Opening Price for Palram Industries (1990) Ltd of Friday, June 28, 2024
Fair opening price June 28, 2024 | Current price |
---|---|
₪5,012.67 ( 0.720%) | ₪5,049.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PLRM.TA
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 5,219.67 | 3.38% |
R2 | 5,140.59 | 1.81% |
R1 | 5,091.74 | 0.85% |
Price | 5,049.00 | |
S1 | 4,933.59 | -2.29% |
S2 | 4,884.74 | -3.25% |
S3 | 4,805.67 | -4.82% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 5,271.00 | 4.40% |
R2 | 5,146.00 | 1.92% |
R1 | 5,069.00 | 0.396% |
Price | 5,049.00 | |
S1 | 4,968.00 | -1.60% |
S2 | 4,934.00 | -2.28% |
S3 | 4,835.00 | -4.24% |
PLRM Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 11, 2024 | Apr 11, 2024 | Apr 18, 2024 | ₪233.23 | 4.70% |
2 | Apr 13, 2023 | Apr 13, 2023 | Apr 13, 2023 | ₪155.49 | 6.30% |
3 | Apr 26, 2022 | Apr 26, 2022 | Apr 26, 2022 | ₪272.10 | 5.84% |
4 | Apr 05, 2021 | Apr 05, 2021 | Apr 05, 2021 | ₪233.23 | 7.94% |
5 | Jun 22, 2020 | Jun 22, 2020 | Jun 22, 2020 | ₪77.74 | 3.47% |
FAQ
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