Peloton Minerals Corporation Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Big movements in Peloton Minerals Corporation stock price on Friday moving 14.29% between high and low
(Updated on Jun 21, 2024)
The Peloton Minerals Corporation stock price gained 14.29% on the last trading day (Friday, 21st Jun 2024), rising from $0.105 to $0.120. During the last trading day the stock fluctuated 14.29% from a day low at $0.105 to a day high of $0.120. The price has risen in 4 of the last 10 days and is up by 14.29% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 28 thousand more shares were traded than the day before. In total, 33 thousand shares were bought and sold for approximately $3.96 thousand.
The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $0.118, a level that may pose a second chance to hit a runner. According to fan-theory $0.150 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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PMC.CN Signals & Forecast
Mostly positive signals in the chart today. The Peloton Minerals Corporation 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 $0.104 and $0.110. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has risen 33.33%. 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). Peloton Minerals Corporation has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued.
A buy signal from a double bottom formation was found on Friday, June 14, 2024 with a target of $0.110. Despite whether the objective of the signal formation has been reached the stock may continue to perform well.
Support, Risk & Stop-loss for Peloton Minerals Corporation stock
Peloton Minerals Corporation finds support from accumulated volume at $0.115 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.0150 between high and low, or 14.29%. For the last week, the stock has had daily average volatility of 5.08%.
Our recommended stop-loss: $0.115 (-3.84%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 28 days ago.)
Trading Expectations (PMC.CN) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Peloton Minerals Corporation to open at $0.115, and during the day (based on 14 day Average True Range), to move between $0.114 and $0.126, which gives a possible trading interval of +/-$0.0055 (+/-4.59%) up or down from last closing price. If Peloton Minerals Corporation takes out the full calculated possible swing range there will be an estimated 9.19% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $0.115, some $0.0050 (4.17%) from the current price of $0.120, our system finds the risk reward attractive.
Is Peloton Minerals Corporation stock A Buy?
Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 3.923 Buy Candidate Upgraded
Predicted Opening Price for Peloton Minerals Corporation of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| $0.115 ( 4.17%) | $0.120 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PMC.CN
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.130 | 8.33% |
| R2 | 0.124 | 3.56% |
| R1 | 0.121 | 0.608% |
| Price | 0.120 | |
| S1 | 0.109 | -8.94% |
| S2 | 0.106 | -11.89% |
| S3 | 0.1000 | -16.67% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 0.120 | |
| S1 | 0.115 | -4.17% |
| S2 | 0.105 | -12.50% |
| S3 | 0.100 | -16.67% |
FAQ
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