Precious Shipping Public Company Limited Stock Forecast

Precious Shipping Public Company Limited stock downgraded from Hold/Accumulate to Sell Candidate after Thursday trading session.
(Updated on Apr 25, 2024)

PSL.BK 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 Precious Shipping Public Company 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 ฿7.76 and ฿8.07. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, February 29, 2024, and so far it has fallen -14.61%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

Support, Risk & Stop-loss for Precious Shipping Public Company Limited stock

Precious Shipping Public Company Limited finds support from accumulated volume at ฿7.50 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

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 ฿0.200 between high and low, or 2.63%. For the last week the stock has had daily average volatility of 3.68%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (PSL.BK) For The Upcoming Trading Day Of Friday 26th

For the upcoming trading day on Friday, 26th we expect Precious Shipping Public Company Limited to open at ฿7.67, and during the day (based on 14 day Average True Range), to move between ฿7.36 and ฿7.84, which gives a possible trading interval of +/-฿0.239 (+/-3.14%) up or down from last closing price. If Precious Shipping Public Company Limited takes out the full calculated possible swing range there will be an estimated 6.29% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ฿7.50 (1.32%) than the resistance at ฿8.40 (10.53%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Precious Shipping Public Company Limited stock A Buy?

Precious Shipping Public Company Limited 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: -3.156 Sell Candidate Downgraded

Predicted Opening Price for Precious Shipping Public Company Limited of Friday, April 26, 2024

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