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$993.40
+8.20 (+0.83%)
At Close: May 09, 2024
RSI low/high Values: [ 25 - 75 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of PLUSD
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Platinum commodity upgraded to Strong Buy Candidate.
(Updated on May 09, 2024)

Buy or Hold candidate since Apr 28, 2024 Gain 3.32% PDF

The Platinum commodity price gained 0.83% on the last trading day (Thursday, 9th May 2024), rising from $985.20 to $993.40. During the last trading day the commodity fluctuated 0.0201% from a day low at $993.20 to a day high of $993.40. The price has risen in 6 of the last 10 days and is up by 7.48% over the past 2 weeks. Volume fell on the last day by -3 shares and in total, 14 shares were bought and sold for approximately $13.91 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.

The commodity lies in the middle of a weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the commodity is expected to rise 8.65% during the next 3 months and, with a 90% probability hold a price between $1,011.21 and $1,107.96 at the end of this 3-month period.

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PLUSD Signals & Forecast

The Platinum commodity holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $975.63 and $951.97. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 23, 2024, and so far it has risen 8.47%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Platinum commodity

On the downside, the commodity finds support just below today's level from accumulated volume at $928.20 and $913.00. There is a natural risk involved when a commodity is testing a support level, since if this is broken, the commodity then may fall to the next support level. In this case, Platinum finds support just below today's level at $928.20. If this is broken, then the next support from accumulated volume will be at $913.00 and $901.10.

In general the commodity tends to have controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the commodity. During the last day, the commodity moved $0.200 between high and low, or 0.0201%. For the last week the commodity has had daily average volatility of 0.213%.

Our recommended stop-loss: $955.12 (-3.85%) (This commodity has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 13 days ago.)

Trading Expectations (PLUSD) For The Upcoming Trading Day Of Friday 10th

For the upcoming trading day on Friday, 10th we expect Platinum to open at $993.33, and during the day (based on 14 day Average True Range), to move between $981.10 and $1,005.70, which gives a possible trading interval of +/-$12.30 (+/-1.24%) up or down from last closing price. If Platinum takes out the full calculated possible swing range there will be an estimated 2.48% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $995.70 (0.23%) than the support at $928.20 (6.56%), 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 Platinum commodity A Buy?

Platinum holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this commodity since the last evaluation from a Buy to a Strong Buy candidate.

Current score: 5.352 Strong Buy Candidate Upgraded

Predicted Opening Price for Platinum of Friday, May 10, 2024

Fair opening price May 10, 2024 Current price
$993.33 ( 0.0067%) $993.40

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for PLUSD

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 993.53 0.0134 %
R2 993.46 0.0057 %
R1 993.41 0.0010 %
Current price: 993.40
Support S1 993.26 -0.0144 %
S2 993.21 -0.0192 %
S3 993.13 -0.0268 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 0 .
R2 0 .
R1 995.70 0.232 %
Current price 993.40
Support S1 928.20 -6.56%
S2 913.00 -8.09%
S3 901.10 -9.29%

FAQ

What is the symbol for Platinum Commodity and on which exchange is it traded?
The symbol for Platinum is PLUSD and it is traded on the COMMODITY (Commodities).

Should I buy or sell Platinum Commodity?
Platinum holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this commodity since the last evaluation from a Buy to a Strong Buy candidate.

How to buy Platinum Commodity?
Platinum Commodity can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Platinum Commodity.

What's the current price of Platinum Commodity?
As of the end of day on the May 09, 2024, the price of an Platinum (PLUSD) share was $993.40.

What is the 52-week high and low for Platinum Commodity?
The 52-week high for Platinum Commodity is $1,122.20 and the 52-week low is $838.60.
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