S Physical Platinum ETF Forecast
S Physical Platinum ETF upgraded to Buy Candidate.
(Updated on Apr 29, 2024)
The S Physical Platinum ETF price gained 3.48% on the last trading day (Monday, 29th Apr 2024), rising from $84.28 to $87.21. It has now gained 3 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 ETF fluctuated 2.28% from a day low at $85.79 to a day high of $87.75. The price has fallen in 7 of the last 10 days and is down by -2.42% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 20 thousand more shares were traded than the day before. In total, 251 thousand shares were bought and sold for approximately $21.92 million.
The ETF lies in the middle of a weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the ETF is expected to rise 5.89% during the next 3 months and, with a 90% probability hold a price between $88.43 and $96.54 at the end of this 3-month period.
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PPLT Signals & Forecast
The S Physical Platinum ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the ETF 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 $84.76 and $85.58. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 24, 2024, and so far it has risen 4.74%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for S Physical Platinum ETF
S Physical Platinum finds support from accumulated volume at $86.26 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the ETF moved $1.96 between high and low, or 2.28%. For the last week, the ETF has had daily average volatility of 1.42%.
Our recommended stop-loss: $83.21 (-4.59%) (This ETF has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 3 days ago.)
Trading Expectations (PPLT) For The Upcoming Trading Day Of Tuesday 30th
For the upcoming trading day on Tuesday, 30th we expect ETFS Physical Platinum to open at $86.92, and during the day (based on 14 day Average True Range), to move between $85.53 and $88.89, which gives a possible trading interval of +/-$1.68 (+/-1.93%) up or down from last closing price. If ETFS Physical Platinum takes out the full calculated possible swing range there will be an estimated 3.86% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $86.26 (1.09%) than the resistance at $88.82 (1.85%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is ETFS Physical Platinum ETF 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 S Physical Platinum ETF to perform well in the short-term. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.011 Buy Candidate Upgraded
Predicted Opening Price for ETFS Physical Platinum of Tuesday, April 30, 2024
| Fair opening price April 30, 2024 | Current price |
|---|---|
| $86.92 ( 0.336%) | $87.21 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PPLT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 88.88 | 1.91 % | |
| R2 | 88.13 | 1.05 % | ||
| R1 | 87.67 | 0.522 % | ||
| Current price: | 87.21 | |||
| Support | S1 | 86.17 | -1.19 % | |
| S2 | 85.71 | -1.73 % | ||
| S3 | 84.96 | -2.58 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 89.94 | 3.13 % | |
| R2 | 89.89 | 3.07 % | ||
| R1 | 88.82 | 1.85 % | ||
| Current price | 87.21 | |||
| Support | S1 | 86.26 | -1.09% | |
| S2 | 84.28 | -3.36% | ||
| S3 | 81.51 | -6.54% |
FAQ
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