Platinum Investment Management Limited Stock Forecast
Platinum Investment Management Limited stock price fell more than -5.31% Friday closing at $1.07
(Updated on Apr 26, 2024)
The Platinum Investment Management Limited stock price fell by -5.31% on the last day (Friday, 26th Apr 2024) from $1.13 to $1.07. During the last trading day the stock fluctuated 6.10% from a day low at $1.07 to a day high of $1.13. The price has been going up and down for this period, and there has been a -6.96% loss for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -91 thousand shares and in total, 1 million shares were bought and sold for approximately $1.57 million.
The stock lies in the lower part of a very wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $1.04 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 3.83% during the next 3 months and, with a 90% probability hold a price between $1.08 and $1.38 at the end of this 3-month period.
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PTM.AX Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 0.469%. 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 Platinum Investment Management 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 $1.09 and $1.16. 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). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Platinum Investment Management Limited stock
Platinum Investment Management Limited finds support from accumulated volume at $1.05 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 $0.0650 between high and low, or 6.10%. For the last week, the stock has had daily average volatility of 3.85%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PTM.AX) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Platinum Investment Management Limited to open at $1.09, and during the day (based on 14 day Average True Range), to move between $1.02 and $1.12, which gives a possible trading interval of +/-$0.0462 (+/-4.32%) up or down from last closing price. If Platinum Investment Management Limited takes out the full calculated possible swing range there will be an estimated 8.64% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.08 (0.93%) than the support at $1.05 (1.87%), 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 Platinum Investment Management Limited stock A Buy?
The Platinum Investment Management Limited stock holds several negative signals and despite the positive trend, we believe Platinum Investment Management Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -3.261 Sell Candidate Unchanged
Predicted Opening Price for Platinum Investment Management Limited of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $1.09 ( 1.71%) | $1.07 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PTM.AX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.15 | 7.79 % | |
| R2 | 1.13 | 5.47 % | ||
| R1 | 1.11 | 4.03 % | ||
| Current price: | 1.07 | |||
| Support | S1 | 1.06 | -0.607 % | |
| S2 | 1.05 | -2.04 % | ||
| S3 | 1.02 | -4.36 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.20 | 12.15 % | |
| R2 | 1.15 | 7.01 % | ||
| R1 | 1.08 | 0.93 % | ||
| Current price | 1.07 | |||
| Support | S1 | 1.05 | -1.87% | |
| S2 | 1.03 | -3.74% | ||
| S3 | 1.02 | -4.67% |
PTM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 07, 2024 | Mar 07, 2024 | Mar 22, 2024 | $0.0600 | 4.55% |
| 2 | Mar 02, 2023 | Mar 02, 2023 | Mar 02, 2023 | $0.0700 | 3.89% |
| 3 | Sep 01, 2022 | Sep 01, 2022 | Sep 01, 2022 | $0.0700 | 4.12% |
| 4 | Mar 02, 2022 | Mar 02, 2022 | Mar 02, 2022 | $0.100 | 4.31% |
| 5 | Sep 02, 2021 | Sep 02, 2021 | Sep 02, 2021 | $0.120 | 3.13% |
FAQ
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