Pilbara Minerals Limited Stock Forecast
Red day on Tuesday for Pilbara Minerals Limited stock after losing 0.256%
(Updated on May 28, 2024)
The Pilbara Minerals Limited stock price fell by -0.256% on the last day (Tuesday, 28th May 2024) from $3.90 to $3.89. It has now fallen 6 days in a row. During the last trading day the stock fluctuated 1.29% from a day low at $3.87 to a day high of $3.92. The price has fallen in 6 of the last 10 days and is down by -2.02% for this period. 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 -1 million shares and in total, 9 million shares were bought and sold for approximately $35.77 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 Pilbara Minerals Limited stock with a 90% probability to be traded between $3.72 and $4.18 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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PLS.AX Signals & Forecast
There are few to no technical positive signals at the moment. The Pilbara Minerals Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $4.02 and $4.00. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, May 20, 2024, and so far it has fallen -7.38%. 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.
Support, Risk & Stop-loss for Pilbara Minerals Limited stock
Pilbara Minerals Limited finds support from accumulated volume at $3.86 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 $0.0500 (1.29%) between high and low. For the last week, the stock has had daily average volatility of 1.87%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PLS.AX) For The Upcoming Trading Day Of Wednesday 29th
For the upcoming trading day on Wednesday, 29th we expect Pilbara Minerals Limited to open at $3.89, and during the day (based on 14 day Average True Range), to move between $3.78 and $4.00, which gives a possible trading interval of +/-$0.106 (+/-2.72%) up or down from last closing price. If Pilbara Minerals Limited takes out the full calculated possible swing range there will be an estimated 5.43% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $3.92 (0.77%) than the support at $3.86 (0.77%), 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 Pilbara Minerals Limited stock A Buy?
Pilbara Minerals Limited holds several negative signals and is within a 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.
Current score: -3.087 Sell Candidate Unchanged
Predicted Opening Price for Pilbara Minerals Limited of Wednesday, May 29, 2024
| Fair opening price May 29, 2024 | Current price |
|---|---|
| $3.89 ( 0.0857%) | $3.89 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PLS.AX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.94 | 1.37 % | |
| R2 | 3.92 | 0.88 % | ||
| R1 | 3.91 | 0.577 % | ||
| Current price: | 3.89 | |||
| Support | S1 | 3.87 | -0.405 % | |
| S2 | 3.86 | -0.709 % | ||
| S3 | 3.84 | -1.20 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.17 | 7.20 % | |
| R2 | 4.10 | 5.40 % | ||
| R1 | 3.92 | 0.771 % | ||
| Current price | 3.89 | |||
| Support | S1 | 3.86 | -0.771% | |
| S2 | 3.83 | -1.54% | ||
| S3 | 3.77 | -3.08% |
PLS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 05, 2023 | Sep 05, 2023 | Sep 05, 2023 | $0.140 | 2.98% |
| 2 | Mar 02, 2023 | Mar 02, 2023 | Mar 02, 2023 | $0.110 | 2.70% |
FAQ
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