PermRock Royalty Trust Stock Forecast
Evaluation of PermRock Royalty Trust stock downgraded after the last trading session.
(Updated on Apr 18, 2024)
The PermRock Royalty Trust stock price fell by -1.72% on the last day (Thursday, 18th Apr 2024) from $4.07 to $4.00. During the last trading day the stock fluctuated 2.76% from a day low at $3.99 to a day high of $4.10. The price has fallen in 6 of the last 10 days and is down by -5.88% for this period. Volume has increased on the last day by 19 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 54 thousand shares were bought and sold for approximately $214.22 thousand.
The stock lies in the middle of a 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 -9.57% during the next 3 months and, with a 90% probability hold a price between $3.52 and $3.94 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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PRT Signals & Forecast
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 PermRock Royalty Trust 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 $4.12 and $4.30. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, March 26, 2024, and so far it has fallen -8.88%. Further fall is indicated until a new bottom pivot has been found. PermRock Royalty Trust gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for PermRock Royalty Trust stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $0.110 between high and low, or 2.76%. For the last week the stock has had daily average volatility of 2.73%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PRT) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect PermRock Royalty Trust to open at $4.03, and during the day (based on 14 day Average True Range), to move between $3.87 and $4.13, which gives a possible trading interval of +/-$0.133 (+/-3.32%) up or down from last closing price. If PermRock Royalty Trust takes out the full calculated possible swing range there will be an estimated 6.63% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $4.18, some $0.180 (4.50%) from the current price of $4.00, our system finds the risk reward not very attractive.
Is PermRock Royalty Trust stock A Buy?
PermRock Royalty Trust holds several negative signals and is within a 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -3.745 Sell Candidate Downgraded
Predicted Opening Price for PermRock Royalty Trust of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $4.03 ( 0.750%) | $4.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PRT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.14 | 3.50 % | |
| R2 | 4.10 | 2.45 % | ||
| R1 | 4.07 | 1.80 % | ||
| Current price: | 4.00 | |||
| Support | S1 | 3.99 | -0.300 % | |
| S2 | 3.96 | -0.95 % | ||
| S3 | 3.92 | -2.00 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.24 | 6.00 % | |
| R2 | 4.19 | 4.75 % | ||
| R1 | 4.18 | 4.50 % | ||
| Current price | 4.00 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
PRT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 18, 2024 | Mar 27, 2024 | Apr 12, 2024 | $0.0230 | 0.547% |
| 2 | Feb 16, 2024 | Feb 28, 2024 | Mar 14, 2024 | $0.0350 | 0.788% |
| 3 | Jan 19, 2024 | Jan 30, 2024 | Feb 14, 2024 | $0.0346 | 0.780% |
| 4 | Dec 18, 2023 | Dec 28, 2023 | Jan 16, 2024 | $0.0303 | 0.653% |
| 5 | Nov 17, 2023 | Nov 29, 2023 | Dec 14, 2023 | $0.0403 | 0.87% |
FAQ
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