Premier African Minerals Ltd Stock Forecast
Red day on Friday for Premier African Minerals Ltd stock after losing 0%
(Updated on Apr 26, 2024)
No changes to the price of Premier African Minerals Ltd stock on the last trading day (Friday, 26th Apr 2024). During the last trading day the stock fluctuated 8.11% from a day low at £0.185 to a day high of £0.200. The price has risen in 4 of the last 10 days and is up by 2.7% over the past 2 weeks.
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 -31.35% during the next 3 months and, with a 90% probability hold a price between £0.113 and £0.177 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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PREM.L Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 4.40%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Premier African Minerals Ltd 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 £0.192 and £0.229. A break-up above any of these levels will issue buy signals. Volume fell during the last trading day while price remained unchanged. This may be an early warning, but it may also not. We still recommend that you pay attention over the next couple of days.
Support, Risk & Stop-loss for Premier African Minerals Ltd stock
Premier African Minerals Ltd finds support from accumulated volume at £0.189 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved £0.0150 between high and low, or 8.11%. For the last week, the stock has had daily average volatility of 10.27%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PREM.L) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Premier African Minerals Ltd to open at £0.192, and during the day (based on 14 day Average True Range), to move between £0.162 and £0.218, which gives a possible trading interval of +/-£0.0281 (+/-14.81%) up or down from last closing price. If Premier African Minerals Ltd takes out the full calculated possible swing range there will be an estimated 29.63% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £0.189 (0.53%) than the resistance at £0.193 (1.58%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Premier African Minerals Ltd stock A Buy?
Premier African Minerals Ltd 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.
Current score: -4.442 Sell Candidate Unchanged
Predicted Opening Price for Premier African Minerals Ltd of Monday, April 29, 2024
Fair opening price April 29, 2024 | Current price |
---|---|
£0.192 ( 0.88%) | £0.190 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PREM.L
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.207 | 8.77 % | |
R2 | 0.201 | 5.76 % | ||
R1 | 0.197 | 3.89 % | ||
Current price: | 0.190 | |||
Support | S1 | 0.186 | -2.14 % | |
S2 | 0.182 | -4.00 % | ||
S3 | 0.177 | -7.02 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.230 | 21.05 % | |
R2 | 0.195 | 2.63 % | ||
R1 | 0.193 | 1.58 % | ||
Current price | 0.190 | |||
Support | S1 | 0.189 | -0.526% | |
S2 | 0.185 | -2.63% | ||
S3 | 0.182 | -4.21% |
FAQ
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