Pensana Plc Stock Forecast
Volatile ride for Pensana Plc stock price on Thursday moving between £25.08 and £28.50
(Updated on Apr 25, 2024)
The Pensana Plc stock price gained 7.14% on the last trading day (Thursday, 25th Apr 2024), rising from £25.20 to £27.00. During the last trading day the stock fluctuated 13.66% from a day low at £25.08 to a day high of £28.50. The price has risen in 6 of the last 10 days and is up by 8.22% over the past 2 weeks. Volume fell on the last day by -204 thousand shares and in total, 911 thousand shares were bought and sold for approximately £24.60 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 very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -17.77% during the next 3 months and, with a 90% probability hold a price between £17.30 and £24.17 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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PRE.L Signals & Forecast
Mostly positive signals in the chart today. The Pensana Plc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock 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 £23.47 and £26.23. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 25.29%. 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 Pensana Plc stock
On the downside, the stock finds support just below today's level from accumulated volume at £25.45 and £22.90. 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, Pensana Plc finds support just below today's level at £25.45. If this is broken, then the next support from accumulated volume will be at £22.90 and £21.65.
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 £3.43 between high and low, or 13.66%. For the last week, the stock has had daily average volatility of 9.11%.
Our recommended stop-loss: £26.10 (-3.34%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (PRE.L) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Pensana Plc to open at £26.86, and during the day (based on 14 day Average True Range), to move between £25.04 and £28.96, which gives a possible trading interval of +/-£1.96 (+/-7.24%) up or down from last closing price. If Pensana Plc takes out the full calculated possible swing range there will be an estimated 14.49% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £25.45 (5.74%) than the resistance at £29.00 (7.41%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Pensana Plc stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 3.803 Buy Candidate Upgraded
Predicted Opening Price for Pensana Plc of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| £26.86 ( 0.525%) | £27.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PRE.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 30.28 | 12.16 % | |
| R2 | 28.97 | 7.31 % | ||
| R1 | 28.17 | 4.32 % | ||
| Current price: | 27.00 | |||
| Support | S1 | 25.55 | -5.37 % | |
| S2 | 24.74 | -8.36 % | ||
| S3 | 23.43 | -13.21 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 30.00 | 11.11 % | |
| R2 | 29.50 | 9.26 % | ||
| R1 | 29.00 | 7.41 % | ||
| Current price | 27.00 | |||
| Support | S1 | 25.45 | -5.74% | |
| S2 | 22.90 | -15.19% | ||
| S3 | 21.65 | -19.81% |
FAQ
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