Polyram Plastic Industries Ltd Stock Forecast
Polyram Plastic Industries Ltd stock price ended at ₪1,036.00 on Thursday, after losing 0.289%.
(Updated on Jun 27, 2024)
The Polyram Plastic Industries Ltd stock price fell by -0.289% on the last day (Thursday, 27th Jun 2024) from ₪1,039.00 to ₪1,036.00. During the last trading day the stock fluctuated 1.17% from a day low at ₪1,028.00 to a day high of ₪1,040.00. The price has fallen in 7 of the last 10 days and is down by -2.36% for this period. Volume has increased on the last day by 9 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 38 thousand shares were bought and sold for approximately ₪39.68 million.
The stock is at the lower part of a wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at ₪1,018.85 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Polyram Plastic Industries Ltd stock with a 90% probability to be traded between ₪1,026.10 and ₪1,152.84 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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POLP.TA Signals & Forecast
There are mixed signals in the stock today. The Polyram Plastic Industries Ltd stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at ₪1,080.69. On a fall, the stock will find some support from the short-term average at ₪1,028.71. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. A buy signal was issued from a pivot bottom point on Wednesday, June 19, 2024, and so far it has risen 1.77%. Further rise is indicated until a new top pivot has been found.
Support, Risk & Stop-loss for Polyram Plastic Industries Ltd stock
Polyram Plastic Industries Ltd finds support from accumulated volume at ₪1,033.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved ₪12.00 between high and low, or 1.17%. For the last week, the stock has had daily average volatility of 1.39%.
Polyram Plastic Industries Ltd is oversold on RSI14 (22). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: ₪980.60 (-5.35%) (This stock has medium daily movements and this gives medium risk. Low RSI14 is 22 which reduces the risk some. There is a buy signal from a pivot bottom found 26 days ago.)
Trading Expectations (POLP.TA) For The Upcoming Trading Day Of Friday 28th
For the upcoming trading day on Friday, 28th we expect Polyram Plastic Industries Ltd to open at ₪1,034.67, and during the day (based on 14 day Average True Range), to move between ₪1,013.73 and ₪1,058.27, which gives a possible trading interval of +/-₪22.27 (+/-2.15%) up or down from last closing price. If Polyram Plastic Industries Ltd takes out the full calculated possible swing range there will be an estimated 4.30% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₪1,033.00 (0.29%) than the resistance at ₪1,107.00 (6.85%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Polyram Plastic Industries Ltd 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 Polyram Plastic Industries Ltd stock to perform well in the short-term period.
Current score: 1.033 Buy Candidate Unchanged
Predicted Opening Price for Polyram Plastic Industries Ltd of Friday, June 28, 2024
| Fair opening price June 28, 2024 | Current price |
|---|---|
| ₪1,034.67 ( 0.129%) | ₪1,036.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for POLP.TA
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1,046.67 | 1.03% |
| R2 | 1,042.08 | 0.587% |
| R1 | 1,039.25 | 0.314% |
| Price | 1,036.00 | |
| S1 | 1,030.08 | -0.571% |
| S2 | 1,027.25 | -0.84% |
| S3 | 1,022.67 | -1.29% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1,141.00 | 10.14% |
| R2 | 1,133.00 | 9.36% |
| R1 | 1,107.00 | 6.85% |
| Price | 1,036.00 | |
| S1 | 1,033.00 | -0.290% |
| S2 | 1,031.00 | -0.483% |
| S3 | 1,029.00 | -0.676% |
POLP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 30, 2024 | May 30, 2024 | Jun 10, 2024 | ₪9.36 | 0.88% |
| 2 | Mar 20, 2024 | Mar 20, 2024 | Mar 31, 2024 | ₪9.36 | 0.90% |
| 3 | Dec 27, 2023 | Dec 27, 2023 | Jan 04, 2024 | ₪16.84 | 1.55% |
| 4 | Nov 23, 2023 | Nov 23, 2023 | Dec 04, 2023 | ₪9.36 | 0.90% |
| 5 | Sep 03, 2023 | Sep 03, 2023 | Sep 12, 2023 | ₪9.37 | 0.96% |
FAQ
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