Pinetree Capital Ltd. Stock Forecast
Stronger technical forecast for Pinetree Capital Ltd. stock price after Friday trading.
(Updated on May 10, 2024)
The Pinetree Capital Ltd. stock price gained 2.31% on the last trading day (Friday, 10th May 2024), rising from $5.63 to $5.76. During the last trading day the stock fluctuated 3.72% from a day low at $5.65 to a day high of $5.86. The price has fallen in 6 of the last 10 days and is down by -1.54% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 19 thousand more shares were traded than the day before. In total, 21 thousand shares were bought and sold for approximately $121.78 thousand.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 31.70% during the next 3 months and, with a 90% probability hold a price between $7.17 and $8.02 at the end of this 3-month period.
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PNP.TO Signals & Forecast
The Pinetree Capital Ltd. 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 $5.76 and $5.68. 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). Pinetree Capital Ltd. 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. Higher liquidity also reduces the general risk. 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 Wednesday, May 01, 2024, and so far it has fallen -1.87%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Pinetree Capital Ltd. stock
Pinetree Capital Ltd. finds support from accumulated volume at $5.69 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 with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.210 between high and low, or 3.72%. For the last week the stock has had daily average volatility of 2.67%.
Our recommended stop-loss: $5.51 (-4.39%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 7 days ago.)
Trading Expectations (PNP.TO) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Pinetree Capital Ltd. to open at $5.76, and during the day (based on 14 day Average True Range), to move between $5.60 and $5.92, which gives a possible trading interval of +/-$0.157 (+/-2.72%) up or down from last closing price. If Pinetree Capital Ltd. takes out the full calculated possible swing range there will be an estimated 5.44% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $5.78 (0.35%) than the support at $5.69 (1.22%), 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 Pinetree Capital Ltd. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Pinetree Capital Ltd. stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 3.037 Buy Candidate Upgraded
Predicted Opening Price for Pinetree Capital Ltd. of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| $5.76 ( 0.0579%) | $5.76 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PNP.TO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.97 | 3.59 % | |
| R2 | 5.89 | 2.20 % | ||
| R1 | 5.84 | 1.33 % | ||
| Current price: | 5.76 | |||
| Support | S1 | 5.68 | -1.45 % | |
| S2 | 5.63 | -2.31 % | ||
| S3 | 5.55 | -3.70 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.85 | 1.56 % | |
| R2 | 5.80 | 0.694 % | ||
| R1 | 5.78 | 0.347 % | ||
| Current price | 5.76 | |||
| Support | S1 | 5.69 | -1.22% | |
| S2 | 5.54 | -3.82% | ||
| S3 | 4.95 | -14.06% |
PNP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 17, 2006 | Jul 17, 2006 | Apr 13, 2007 | $42.86 | 1.43% |
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