Platinum Investment Management Limited Stock Forecast
Platinum Investment Management Limited stock downgraded from Hold/Accumulate to Sell Candidate after Tuesday trading session.
(Updated on May 07, 2024)
The Platinum Investment Management Limited stock price fell by -0.95% on the last day (Tuesday, 7th May 2024) from $1.05 to $1.04. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 3.40% from a day low at $1.03 to a day high of $1.07. The price has been going up and down for this period, and there has been a -3.26% loss for the last 2 weeks. Volume has increased on the last day by 2 million 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, 3 million shares were bought and sold for approximately $2.80 million.
The stock has broken the very wide and weak rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at $1.05. A reaction back to this level may hold a second chance to get out before further falls.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
PTM.AX Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, March 27, 2024, and so far it has risen 0.97%. Further rise is indicated until a new top pivot has been found. 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 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 $1.07 and $1.14. A break-up above any of these levels will issue buy signals. 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 Platinum Investment Management Limited stock
Platinum Investment Management Limited finds support from accumulated volume at $1.03 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 $0.0350 between high and low, or 3.40%. For the last week, the stock has had daily average volatility of 2.57%.
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 Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Platinum Investment Management Limited to open at $1.05, and during the day (based on 14 day Average True Range), to move between $1.00 and $1.08, which gives a possible trading interval of +/-$0.0391 (+/-3.76%) 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 7.52% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.03 (0.96%) than the resistance at $1.08 (3.85%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
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. 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: -1.222 Sell Candidate Downgraded
Predicted Opening Price for Platinum Investment Management Limited of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| $1.05 ( 0.481%) | $1.04 |
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 | 1.08 | 3.85 % | |
| R2 | 1.07 | 2.56 % | ||
| R1 | 1.06 | 1.77 % | ||
| Current price: | 1.04 | |||
| Support | S1 | 1.03 | -0.80 % | |
| S2 | 1.02 | -1.60 % | ||
| S3 | 1.01 | -2.88 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.20 | 15.38 % | |
| R2 | 1.15 | 10.10 % | ||
| R1 | 1.08 | 3.85 % | ||
| Current price | 1.04 | |||
| Support | S1 | 1.03 | -0.96% | |
| S2 | 1.02 | -1.92% | ||
| S3 | 1.01 | -2.88% |
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
Click here for our free guide on how to buy Platinum Investment Management Limited Stock.
