Palatin Technologies Inc Stock Forecast
Palatin Technologies Inc stock price down 0.578% on Thursday
(Updated on Apr 25, 2024)
The Palatin Technologies Inc stock price fell by -0.578% on the last day (Thursday, 25th Apr 2024) from $1.73 to $1.72. During the last trading day the stock fluctuated 4.82% from a day low at $1.66 to a day high of $1.74. The price has fallen in 7 of the last 10 days and is down by -14% for this period. Volume has increased on the last day by 16 thousand 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, 76 thousand shares were bought and sold for approximately $129.99 thousand.
The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $1.50, a level that may pose a second chance to hit a runner. According to fan-theory $2.90 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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PTN Signals & Forecast
There are few to no technical positive signals at the moment. The Palatin Technologies Inc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $1.79 and $1.74. 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 09, 2024, and so far it has fallen -17.31%. 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). Palatin Technologies Inc gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for Palatin Technologies Inc stock
Palatin Technologies Inc finds support from accumulated volume at $1.71 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.0800 between high and low, or 4.82%. For the last week, the stock has had daily average volatility of 6.27%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PTN) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Palatin Technologies Inc to open at $1.71, and during the day (based on 14 day Average True Range), to move between $1.53 and $1.91, which gives a possible trading interval of +/-$0.192 (+/-11.15%) up or down from last closing price. If Palatin Technologies Inc takes out the full calculated possible swing range there will be an estimated 22.29% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.71 (0.58%) than the resistance at $1.87 (8.72%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Palatin Technologies Inc stock A Buy?
Palatin Technologies Inc holds several negative signals and is within a very 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.
Current score: -3.732 Sell Candidate Unchanged
Predicted Opening Price for Palatin Technologies Inc of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $1.71 ( 0.775%) | $1.72 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PTN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.79 | 3.88 % | |
| R2 | 1.76 | 2.10 % | ||
| R1 | 1.74 | 1.00 % | ||
| Current price: | 1.72 | |||
| Support | S1 | 1.68 | -2.55 % | |
| S2 | 1.66 | -3.65 % | ||
| S3 | 1.63 | -5.43 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.02 | 17.44 % | |
| R2 | 2.01 | 16.86 % | ||
| R1 | 1.87 | 8.72 % | ||
| Current price | 1.72 | |||
| Support | S1 | 1.71 | -0.581% | |
| S2 | 1.60 | -6.98% | ||
| S3 | 1.54 | -10.47% |
FAQ
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