Pennymac Mortgage Investment Trust Stock Forecast

Red day on Wednesday for Pennymac Mortgage Investment Trust
(Updated on Jun 26, 2024)

PMT-PA Signals & Forecast

The Pennymac Mortgage Investment Trust stock 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 $24.09 and $23.65. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Monday, June 24, 2024, and so far it has fallen -0.490%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The stock had a Golden Star Signal on Thursday, June 13, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Monday, June 17, 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 stock in question.

Support, Risk & Stop-loss for Pennymac Mortgage Investment Trust stock

Pennymac Mortgage Investment Trust finds support from accumulated volume at $24.27 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock 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 stock During the last day, the stock moved $0.130 between high and low, or 0.535%. For the last week the stock has had daily average volatility of 1.01%

Our recommended stop-loss: $23.43 (-3.88%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 47 days ago.)

Trading Expectations (PMT-PA) For The Upcoming Trading Day Of Thursday 27th

For the upcoming trading day on Thursday, 27th we expect Pennymac Mortgage Investment Trust to open at $24.38, and during the day (based on 14 day Average True Range), to move between $24.10 and $24.66, which gives a possible trading interval of +/-$0.278 (+/-1.14%) up or down from last closing price. If Pennymac Mortgage Investment Trust takes out the full calculated possible swing range there will be an estimated 2.28% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $24.46 (0.33%) than the support at $24.27 (0.43%), 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 Pennymac Mortgage Investment Trust stock A Buy?

Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Pennymac Mortgage Investment Trust stock to perform well in the short-term period.

Current score: 2.115 Buy Candidate Unchanged

Predicted Opening Price for Pennymac Mortgage Investment Trust of Thursday, June 27, 2024

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