Predator Oil & Gas Holdings Plc Stock Forecast
Volatile ride for Predator Oil & Gas Holdings Plc stock price on Monday moving between £8.50 and £9.50
(Updated on May 13, 2024)
The Predator Oil & Gas Holdings Plc stock price gained 2.86% on the last trading day (Monday, 13th May 2024), rising from £8.75 to £9.00. During the last trading day the stock fluctuated 11.76% from a day low at £8.50 to a day high of £9.50. The price has fallen in 4 of the last 10 days and is down by -10% for this period. Volume fell on the last day by -237 thousand shares and in total, 634 thousand shares were bought and sold for approximately £5.71 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 is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Predator Oil & Gas Holdings Plc stock with a 90% probability to be traded between £7.33 and £10.44 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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PRD.L Signals & Forecast
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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Predator Oil & Gas Holdings Plc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at £9.25 and £9.41. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 09, 2024, and so far it has fallen -14.29%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Predator Oil & Gas Holdings Plc stock
On the downside, the stock finds support just below today's level from accumulated volume at £8.50 and £8.00. 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, Predator Oil & Gas Holdings Plc finds support just below today's level at £8.50. If this is broken, then the next support from accumulated volume will be at £8.00 and £7.40.
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 £1.00 between high and low, or 11.76%. For the last week, the stock has had daily average volatility of 7.99%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PRD.L) For The Upcoming Trading Day Of Tuesday 14th
For the upcoming trading day on Tuesday, 14th we expect Predator Oil & Gas Holdings Plc to open at £9.00, and during the day (based on 14 day Average True Range), to move between £8.08 and £9.92, which gives a possible trading interval of +/-£0.92 (+/-10.17%) up or down from last closing price. If Predator Oil & Gas Holdings Plc takes out the full calculated possible swing range there will be an estimated 20.34% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £9.25 (2.78%) than the support at £8.50 (5.56%), 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.
Earnings coming up
Predator Oil & Gas Holdings Plc will release earnings BMO on Friday, May 17, 2024. We will update the financials statements for Predator Oil & Gas Holdings Plc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 15.76% in the first trading day after earnings release.
Is Predator Oil & Gas Holdings Plc stock A Buy?
Predator Oil & Gas Holdings Plc holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -3.051 Sell Candidate Downgraded
Predicted Opening Price for Predator Oil & Gas Holdings Plc of Tuesday, May 14, 2024
| Fair opening price May 14, 2024 | Current price |
|---|---|
| £9.00 ( 0%) | £9.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PRD.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.00 | 11.11 % | |
| R2 | 9.62 | 6.87 % | ||
| R1 | 9.38 | 4.24 % | ||
| Current price: | 9.00 | |||
| Support | S1 | 8.62 | -4.24 % | |
| S2 | 8.38 | -6.87 % | ||
| S3 | 8.00 | -11.11 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.00 | 11.11 % | |
| R2 | 9.75 | 8.33 % | ||
| R1 | 9.25 | 2.78 % | ||
| Current price | 9.00 | |||
| Support | S1 | 8.50 | -5.56% | |
| S2 | 8.00 | -11.11% | ||
| S3 | 7.40 | -17.78% |
FAQ
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