Platinum Capital Ltd Fund Forecast

Stronger technical forecast for Platinum Capital Ltd fund price after Friday trading.
(Updated on Jun 28, 2024)

PMC.AX Signals & Forecast

A sell signal was issued from a pivot top point on Tuesday, May 28, 2024, and so far it has fallen -2.08%. 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 during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not. Some positive signals were issued as well, and these may have some influence on the near short-term development. The Platinum Capital Ltd fund holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the fund 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 A$1.39 and A$1.41. A breakdown below any of these levels will issue sell signals. The fund had a Golden Star Signal on Friday, April 05, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Wednesday, January 10, 2024.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the fund in question.

Support, Risk & Stop-loss for Platinum Capital Ltd fund

Platinum Capital Ltd finds support from accumulated volume at A$1.40 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the fund tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the fund During the last day, the fund moved A$0.0050 between high and low, or 0.356%. For the last week the fund has had daily average volatility of 0.649%

Our recommended stop-loss: A$1.35 (-4.46%) (This fund has low daily movements and this gives low risk. There is a sell signal from a pivot top found 41 days ago.)

Trading Expectations (PMC.AX) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Platinum Capital Ltd to open at A$1.41, and during the day (based on 14 day Average True Range), to move between A$1.40 and A$1.42, which gives a possible trading interval of +/-A$0.0128 (+/-0.91%) up or down from last closing price. If Platinum Capital Ltd takes out the full calculated possible swing range there will be an estimated 1.82% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at A$1.42 (0.71%) than the support at A$1.40 (0.71%), 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 Capital Ltd fund A Buy?

Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period. We have upgraded our analysis conclusion for this fund since the last evaluation from a Sell to a Buy candidate.

Current score: 1.546 Buy Candidate Upgraded

Predicted Opening Price for Platinum Capital Ltd of Monday, July 1, 2024

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