Planet 13 Holdings Inc. Stock Forecast
Planet 13 Holdings Inc. stock upgraded to Hold/Accumulate.
(Updated on May 17, 2024)
The Planet 13 Holdings Inc. stock price fell by -2.38% on the last day (Friday, 17th May 2024) from $0.84 to $0.82. During the last trading day the stock fluctuated 6.17% from a day low at $0.81 to a day high of $0.86. The price has been going up and down for this period, and there has been a -3.53% loss for the last 2 weeks. Volume has increased on the last day by 151 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 151 thousand shares were bought and sold for approximately $124.17 thousand.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Planet 13 Holdings Inc. stock with a 90% probability to be traded between $0.678 and $1.06 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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PLTH.CN Signals & Forecast
There are few to no technical positive signals at the moment. The Planet 13 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 $0.84 and $0.89. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 30, 2024, and so far it has fallen -21.15%. 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). Planet 13 Holdings Inc. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for Planet 13 Holdings Inc. stock
Planet 13 Holdings Inc. finds support from accumulated volume at $0.780 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 $0.0500 between high and low, or 6.17%. For the last week, the stock has had daily average volatility of 3.67%.
Our recommended stop-loss: $0.777 (-5.24%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 13 days ago.)
Trading Expectations (PLTH.CN) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Planet 13 Holdings Inc. to open at $0.83, and during the day (based on 14 day Average True Range), to move between $0.756 and $0.88, which gives a possible trading interval of +/-$0.0643 (+/-7.84%) up or down from last closing price. If Planet 13 Holdings Inc. takes out the full calculated possible swing range there will be an estimated 15.68% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.780 (4.88%) than the resistance at $0.89 (8.54%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Planet 13 Holdings Inc. stock A Buy?
Planet 13 Holdings Inc. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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: 0.000 Hold/Accumulate Upgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Planet 13 Holdings Inc. of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| $0.83 ( 1.22%) | $0.82 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PLTH.CN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.88 | 7.32 % | |
| R2 | 0.86 | 4.99 % | ||
| R1 | 0.85 | 3.55 % | ||
| Current price: | 0.82 | |||
| Support | S1 | 0.81 | -1.11 % | |
| S2 | 0.799 | -2.55 % | ||
| S3 | 0.780 | -4.88 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.00 | 21.95 % | |
| R2 | 0.99 | 20.73 % | ||
| R1 | 0.89 | 8.54 % | ||
| Current price | 0.82 | |||
| Support | S1 | 0.780 | -4.88% | |
| S2 | 0.710 | -13.41% | ||
| S3 | 0.700 | -14.63% |
FAQ
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