PSC Insurance Group Limited Stock Forecast

Stronger technical forecast for PSC Insurance Group Limited stock price after Friday trading.
(Updated on May 03, 2024)

PSI.AX Signals & Forecast

Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". Some negative signals were issued as well, and these may have some influence on the near short-term development. The PSC Insurance Group Limited 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 $5.29 and $5.35. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 02, 2024, and so far it has fallen -6.12%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The stock had a Golden Star Signal on Tuesday, June 13, 2023 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for PSC Insurance Group Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at $4.95 and $4.73. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, PSC Insurance Group Limited finds support just below today's level at $4.95. If this is broken, then the next support from accumulated volume will be at $4.73 and $4.72.

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 $0.0600 between high and low, or 1.16%. For the last week the stock has had daily average volatility of 1.95%.

Our recommended stop-loss: $4.98 (-4.62%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 22 days ago.)

Trading Expectations (PSI.AX) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect PSC Insurance Group Limited to open at $5.22, and during the day (based on 14 day Average True Range), to move between $5.12 and $5.32, which gives a possible trading interval of +/-$0.0986 (+/-1.89%) up or down from last closing price. If PSC Insurance Group Limited takes out the full calculated possible swing range there will be an estimated 3.78% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $5.29 (1.34%) than the support at $4.95 (5.17%), 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 PSC Insurance Group Limited stock A Buy?

PSC Insurance Group Limited holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.721 Hold/Accumulate Upgraded

Predicted Opening Price for PSC Insurance Group Limited of Monday, May 6, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.