Petrus Resources Ltd. Stock Forecast
Petrus Resources Ltd. stock upgraded from Sell Candidate to Buy Candidate after Monday trading session.
(Updated on Jun 10, 2024)
The Petrus Resources Ltd. stock price gained 1.49% on the last trading day (Monday, 10th Jun 2024), rising from $1.34 to $1.36. During the last trading day the stock fluctuated 3.70% from a day low at $1.35 to a day high of $1.40. The price has fallen in 5 of the last 10 days and is down by -4.23% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 126 thousand more shares were traded than the day before. In total, 170 thousand shares were bought and sold for approximately $230.61 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 $1.28 and $1.44 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
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. A buy signal was issued from a pivot bottom point on Tuesday, June 04, 2024, and so far it has risen 3.82%. Further rise is indicated until a new top pivot has been found. Petrus Resources 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
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.
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 $0.0500 between high and low, or 3.70%. For the last week, the stock has had daily average volatility of 4.01%.
Our recommended stop-loss: $1.28 (-5.74%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 14 days ago.)
Trading Expectations (PRQ.TO) For The Upcoming Trading Day Of Tuesday 11th
For the upcoming trading day on Tuesday, 11th we expect Petrus Resources Ltd. to open at $1.37, and during the day (based on 14 day Average True Range), to move between $1.31 and $1.41, which gives a possible trading interval of +/-$0.0502 (+/-3.69%) up or down from last closing price. If Petrus Resources Ltd. takes out the full calculated possible swing range there will be an estimated 7.38% 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 (1.47%) than the support at $1.34 (1.47%), 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?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Petrus Resources Ltd. stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 1.207 Buy Candidate Upgraded
Predicted Opening Price for Petrus Resources Ltd. of Tuesday, June 11, 2024
| Fair opening price June 11, 2024 | Current price |
|---|---|
| $1.37 ( 0.735%) | $1.36 |
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 | 4.41% |
| R2 | 1.40 | 3.01% |
| R1 | 1.39 | 2.14% |
| Price | 1.36 | |
| S1 | 1.35 | -0.669% |
| S2 | 1.34 | -1.54% |
| S3 | 1.32 | -2.94% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.41 | 3.68% |
| R2 | 1.40 | 2.94% |
| R1 | 1.38 | 1.47% |
| Price | 1.36 | |
| S1 | 1.34 | -1.47% |
| S2 | 1.33 | -2.21% |
| S3 | 1.31 | -3.68% |
PRQ Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 17, 2024 | Jun 17, 2024 | Jun 28, 2024 | $0.0100 | 0.735% |
| 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
Click here for our free guide on how to buy Petrus Resources Ltd. Stock.
