Petrus Resources Ltd. Stock Forecast
Evaluation of Petrus Resources Ltd. stock downgraded after the last trading session.
(Updated on Jun 25, 2024)
The Petrus Resources Ltd. stock price fell by -2.14% on the last day (Tuesday, 25th Jun 2024) from $1.40 to $1.37. During the last trading day the stock fluctuated 2.94% from a day low at $1.36 to a day high of $1.40. The price has risen in 5 of the last 10 days and is up by 2.24% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -124 thousand shares and in total, 43 thousand shares were bought and sold for approximately $58.83 thousand.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Petrus Resources Ltd. stock with a 90% probability to be traded between $1.33 and $1.47 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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PRQ.TO Signals & Forecast
The Petrus Resources 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 $1.33 and $1.36. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Monday, June 24, 2024, and so far it has fallen -2.14%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Petrus Resources Ltd. stock
Petrus Resources Ltd. finds support from accumulated volume at $1.34 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 controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the stock. During the last day, the stock moved $0.0400 between high and low, or 2.94%. For the last week the stock has had daily average volatility of 2.42%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PRQ.TO) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Petrus Resources Ltd. to open at $1.38, and during the day (based on 14 day Average True Range), to move between $1.33 and $1.41, which gives a possible trading interval of +/-$0.0448 (+/-3.27%) up or down from last closing price. If Petrus Resources Ltd. takes out the full calculated possible swing range there will be an estimated 6.54% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.38 (0.73%) than the support at $1.34 (2.19%), 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 Petrus Resources Ltd. stock A Buy?
Petrus Resources Ltd. holds several negative signals and we believe that 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 Buy to a Sell candidate.
Current score: -1.273 Sell Candidate Downgraded
Predicted Opening Price for Petrus Resources Ltd. of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $1.38 ( 0.487%) | $1.37 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PRQ.TO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.42 | 3.41% |
| R2 | 1.40 | 2.29% |
| R1 | 1.39 | 1.60% |
| Price | 1.37 | |
| S1 | 1.36 | -0.629% |
| S2 | 1.35 | -1.32% |
| S3 | 1.34 | -2.43% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.42 | 3.65% |
| R2 | 1.40 | 2.19% |
| R1 | 1.38 | 0.730% |
| Price | 1.37 | |
| S1 | 1.34 | -2.19% |
| S2 | 1.33 | -2.92% |
| S3 | 1.32 | -3.65% |
PRQ Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 17, 2024 | Jun 17, 2024 | Jun 28, 2024 | $0.0100 | 0.730% |
| 2 | May 14, 2024 | May 14, 2024 | May 31, 2024 | $0.0100 | 0.746% |
| 3 | Apr 12, 2024 | Apr 12, 2024 | Apr 30, 2024 | $0.0100 | 0.730% |
| 4 | Feb 29, 2024 | Mar 14, 2024 | Mar 28, 2024 | $0.0100 | 0.752% |
| 5 | Jan 30, 2024 | Feb 15, 2024 | Feb 29, 2024 | $0.0100 | 0.752% |
FAQ
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