Praemium Ltd Stock Forecast
Praemium Ltd stock upgraded from Buy Candidate to Strong Buy Candidate after Tuesday trading session.
(Updated on Jun 25, 2024)
The Praemium Ltd stock price gained 3.13% on the last trading day (Tuesday, 25th Jun 2024), rising from A$0.480 to A$0.495. During the last trading day the stock fluctuated 6.32% from a day low at A$0.475 to a day high of A$0.505. The price has risen in 5 of the last 10 days and is up by 7.61% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 million more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately A$1.13 million.
The stock lies in the upper part of a wide and weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at A$0.506 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 5.27% during the next 3 months and, with a 90% probability hold a price between A$0.447 and A$0.532 at the end of this 3-month period.
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PPS.AX Signals & Forecast
Mostly positive signals in the chart today. The Praemium 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 A$0.469 and A$0.452. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, June 17, 2024, and so far it has risen 13.79%. 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). Praemium 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.
A buy signal from a double bottom formation was found on Tuesday, April 16, 2024 with a target of A$0.421. Despite whether the objective of the signal formation has been reached the stock may continue to perform well.
Support, Risk & Stop-loss for Praemium Ltd stock
On the downside, the stock finds support just below today's level from accumulated volume at A$0.470 and A$0.450. 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, Praemium Ltd finds support just below today's level at A$0.470. If this is broken, then the next support from accumulated volume will be at A$0.450 and A$0.440.
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 A$0.0300 between high and low, or 6.32%. For the last week, the stock has had daily average volatility of 4.08%.
Our recommended stop-loss: A$0.477 (-3.62%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 9 days ago.)
Trading Expectations (PPS.AX) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Praemium Ltd to open at A$0.492, and during the day (based on 14 day Average True Range), to move between A$0.475 and A$0.515, which gives a possible trading interval of +/-A$0.0196 (+/-3.95%) up or down from last closing price. If Praemium Ltd takes out the full calculated possible swing range there will be an estimated 7.90% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ A$0.470, some A$0.0250 (5.05%) from the current price of A$0.495, our system finds the risk reward attractive.
Is Praemium Ltd stock A Buy?
Praemium Ltd holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.130 Strong Buy Candidate Upgraded
Predicted Opening Price for Praemium Ltd of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| A$0.492 ( 0.673%) | A$0.495 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PPS.AX
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.522 | 5.39% |
| R2 | 0.510 | 3.07% |
| R1 | 0.503 | 1.64% |
| Price | 0.495 | |
| S1 | 0.480 | -2.99% |
| S2 | 0.473 | -4.42% |
| S3 | 0.462 | -6.73% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 0.495 | |
| S1 | 0.470 | -5.05% |
| S2 | 0.450 | -9.09% |
| S3 | 0.440 | -11.11% |
PPS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 25, 2022 | Jul 25, 2022 | Jul 25, 2022 | A$0.0500 | 8.20% |
FAQ
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