PermRock Royalty Trust Stock Forecast
Red day on Wednesday for PermRock Royalty Trust stock after losing 1.99%
(Updated on May 01, 2024)
The PermRock Royalty Trust stock price fell by -1.99% on the last day (Wednesday, 1st May 2024) from $4.09 to $4.01. During the last trading day the stock fluctuated 1.00% from a day low at $4.01 to a day high of $4.05. The price has fallen in 5 of the last 10 days and is down by -1.47% for this period. Volume has increased on the last day by 14 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, 29 thousand shares were bought and sold for approximately $114.87 thousand.
The stock lies in the lower of a falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $3.94 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -8.77% during the next 3 months and, with a 90% probability hold a price between $3.59 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
A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 0.250%. Further rise is indicated until a new top pivot has been found. 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 $4.08 and $4.20. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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
PermRock Royalty Trust finds support from accumulated volume at $4.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.0400 (1.00%) between high and low. For the last week, the stock has had daily average volatility of 1.82%.
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 Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect PermRock Royalty Trust to open at $4.02, and during the day (based on 14 day Average True Range), to move between $3.90 and $4.12, which gives a possible trading interval of +/-$0.113 (+/-2.81%) up or down from last closing price. If PermRock Royalty Trust takes out the full calculated possible swing range there will be an estimated 5.62% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $4.00 (0.25%) than the resistance at $4.18 (4.24%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is PermRock Royalty Trust stock A Buy?
PermRock Royalty Trust holds several negative signals and is within a 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: -3.121 Sell Candidate Unchanged
Predicted Opening Price for PermRock Royalty Trust of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $4.02 ( 0.333%) | $4.01 |
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 | 4.06 | 1.33 % | |
| R2 | 4.05 | 0.95 % | ||
| R1 | 4.04 | 0.714 % | ||
| Current price: | 4.01 | |||
| Support | S1 | 4.01 | -0.0485 % | |
| S2 | 4.00 | -0.284 % | ||
| S3 | 3.98 | -0.665 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.24 | 5.74 % | |
| R2 | 4.19 | 4.49 % | ||
| R1 | 4.18 | 4.24 % | ||
| Current price | 4.01 | |||
| Support | S1 | 4.00 | -0.249% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
PRT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 19, 2024 | Apr 29, 2024 | May 14, 2024 | $0.0307 | 0.761% |
| 2 | Mar 18, 2024 | Mar 27, 2024 | Apr 12, 2024 | $0.0230 | 0.547% |
| 3 | Feb 16, 2024 | Feb 28, 2024 | Mar 14, 2024 | $0.0350 | 0.788% |
| 4 | Jan 19, 2024 | Jan 30, 2024 | Feb 14, 2024 | $0.0346 | 0.780% |
| 5 | Dec 18, 2023 | Dec 28, 2023 | Jan 16, 2024 | $0.0303 | 0.653% |
FAQ
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