PSC Insurance Group Limited Stock Forecast

Green day on Tuesday for PSC Insurance Group Limited stock after gaining 0.166%
(Updated on May 21, 2024)

PSI.AX Signals & Forecast

The PSC Insurance Group Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $6.02 and $5.55. 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). Volume is rising along with the price. This is considered to be a good technical signal. 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 Friday, May 17, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. 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

PSC Insurance Group Limited finds support from accumulated volume at $6.02 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 $0.0150 between high and low, or 0.249%. For the last week, the stock has had daily average volatility of 0.183%.

The PSC Insurance Group Limited stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.

Our recommended stop-loss: $5.85 (-3.02%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 99 and this increases the risk substantially. There is a sell signal from a pivot top found 14 days ago.)

Trading Expectations (PSI.AX) For The Upcoming Trading Day Of Wednesday 22nd

For the upcoming trading day on Wednesday, 22nd we expect PSC Insurance Group Limited to open at $6.03, and during the day (based on 14 day Average True Range), to move between $5.95 and $6.11, which gives a possible trading interval of +/-$0.0828 (+/-1.37%) 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 2.75% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $6.02, some $0.0100 (0.17%) from the current price of $6.03, our system finds the risk reward attractive.

Is PSC Insurance Group Limited stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for PSC Insurance Group Limited stock to perform well in the short-term.

Current score: 2.880 Buy Candidate Unchanged

Predicted Opening Price for PSC Insurance Group Limited of Wednesday, May 22, 2024

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