Paramount Resources Ltd. Class A Stock Forecast
Paramount Resources Ltd. Class A stock price ended at $32.63 on Tuesday, after gaining 0.524%.
(Updated on May 07, 2024)
The Paramount Resources Ltd. Class A stock price gained 0.524% on the last trading day (Tuesday, 7th May 2024), rising from $32.46 to $32.63. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.14% from a day low at $32.30 to a day high of $32.99. The price has risen in 8 of the last 10 days and is up by 7.41% over the past 2 weeks. Volume fell on the last day by -88 thousand shares and in total, 187 thousand shares were bought and sold for approximately $6.09 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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 13.64% during the next 3 months and, with a 90% probability hold a price between $32.77 and $39.01 at the end of this 3-month period.
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POU.TO Signals & Forecast
Mostly positive signals in the chart today. The Paramount Resources Ltd. Class A 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 $31.86 and $29.32. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, March 15, 2024, and so far it has risen 23.55%. 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). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Paramount Resources Ltd. Class A stock
On the downside, the stock finds support just below today's level from accumulated volume at $30.11 and $28.81. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Paramount Resources Ltd. Class A finds support just below today's level at $30.11. If this is broken, then the next support from accumulated volume will be at $28.81 and $27.48.
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 $0.690 between high and low, or 2.14%. For the last week, the stock has had daily average volatility of 3.10%.
Our recommended stop-loss: $31.66 (-2.98%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 36 days ago.)
Trading Expectations (POU.TO) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Paramount Resources Ltd. Class A to open at $32.64, and during the day (based on 14 day Average True Range), to move between $31.79 and $33.47, which gives a possible trading interval of +/-$0.84 (+/-2.56%) up or down from last closing price. If Paramount Resources Ltd. Class A takes out the full calculated possible swing range there will be an estimated 5.12% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $30.11, some $2.52 (7.72%) from the current price of $32.63, our system finds the risk reward attractive.
Is Paramount Resources Ltd. Class A 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 Paramount Resources Ltd. Class A stock to perform well in the short-term.
Current score: 4.970 Buy Candidate Unchanged
Predicted Opening Price for Paramount Resources Ltd. Class A of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| $32.64 ( 0.0306%) | $32.63 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for POU.TO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 33.33 | 2.15 % | |
| R2 | 33.07 | 1.34 % | ||
| R1 | 32.90 | 0.84 % | ||
| Current price: | 32.63 | |||
| Support | S1 | 32.38 | -0.777 % | |
| S2 | 32.21 | -1.28 % | ||
| S3 | 31.95 | -2.08 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 32.63 | |||
| Support | S1 | 30.11 | -7.72% | |
| S2 | 28.81 | -11.71% | ||
| S3 | 27.48 | -15.78% |
POU Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 14, 2024 | May 14, 2024 | May 14, 2024 | $0 | 0% |
| 2 | Apr 12, 2024 | Apr 12, 2024 | Apr 30, 2024 | $0.125 | 0.401% |
| 3 | Mar 06, 2024 | Mar 14, 2024 | Mar 28, 2024 | $0.125 | 0.455% |
| 4 | Feb 14, 2024 | Feb 14, 2024 | Feb 29, 2024 | $0.125 | 0.420% |
| 5 | Jan 12, 2024 | Jan 12, 2024 | Jan 31, 2024 | $0.125 | 0.472% |
FAQ
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