PrairieSky Royalty Ltd. Stock Forecast
PrairieSky Royalty Ltd. stock price up 4.65% on Friday
(Updated on May 31, 2024)
The PrairieSky Royalty Ltd. stock price gained 4.65% on the last trading day (Friday, 31st May 2024), rising from $19.60 to $20.51. During the last trading day the stock fluctuated 6.82% from a day low at $19.20 to a day high of $20.51. The price has been going up and down for this period, and there has been a 8.01% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 5 thousand more shares were traded than the day before. In total, 6 thousand shares were bought and sold for approximately $124.74 thousand.
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 $20.91 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 2.13% during the next 3 months and, with a 90% probability hold a price between $19.07 and $21.35 at the end of this 3-month period.
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PREKF Signals & Forecast
Mostly positive signals in the chart today. The PrairieSky Royalty Ltd. 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 $19.31 and $19.38. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, May 23, 2024, and so far it has risen 10.03%. 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). PrairieSky Royalty 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.
Support, Risk & Stop-loss for PrairieSky Royalty Ltd. stock
PrairieSky Royalty Ltd. finds support from accumulated volume at $20.32 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $1.31 between high and low, or 6.82%. For the last week the stock has had daily average volatility of 3.40%.
Our recommended stop-loss: $19.77 (-3.62%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 38 days ago.)
Trading Expectations (PREKF) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect PrairieSky Royalty Ltd. to open at $20.07, and during the day (based on 14 day Average True Range), to move between $19.95 and $21.07, which gives a possible trading interval of +/-$0.558 (+/-2.72%) up or down from last closing price. If PrairieSky Royalty Ltd. takes out the full calculated possible swing range there will be an estimated 5.44% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $20.59 (0.41%) than the support at $20.32 (0.93%), 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.
Is PrairieSky Royalty Ltd. 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 PrairieSky Royalty Ltd. stock to perform well in the short-term.
Current score: 2.048 Buy Candidate Unchanged
Predicted Opening Price for PrairieSky Royalty Ltd. of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| $20.07 ( 2.13%) | $20.51 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PREKF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 21.38 | 4.26 % | |
| R2 | 20.88 | 1.82 % | ||
| R1 | 20.57 | 0.311 % | ||
| Current price: | 20.51 | |||
| Support | S1 | 19.57 | -4.57 % | |
| S2 | 19.26 | -6.08 % | ||
| S3 | 18.76 | -8.52 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 20.64 | 0.634 % | |
| R2 | 20.63 | 0.585 % | ||
| R1 | 20.59 | 0.408 % | ||
| Current price | 20.51 | |||
| Support | S1 | 20.32 | -0.93% | |
| S2 | 19.18 | -6.48% | ||
| S3 | 18.16 | -11.48% |
PREKF Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 28, 2024 | Mar 28, 2024 | Mar 28, 2024 | $0 | 0% |
| 2 | Mar 27, 2024 | Mar 27, 2024 | Apr 15, 2024 | $0.185 | 0.92% |
| 3 | Dec 28, 2023 | Dec 28, 2023 | Dec 28, 2023 | $0 | 0% |
| 4 | Sep 28, 2023 | Sep 28, 2023 | Oct 16, 2023 | $0.178 | 0.97% |
| 5 | Jun 29, 2023 | Jun 29, 2023 | Jul 17, 2023 | $0.181 | 0.93% |
FAQ
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