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Palatin Technologies Inc Stock Forecast NYSE:PTN

$0.62 (-0.50%)

Volume: 6M

Closed: Dec 08, 2021

Hollow Logo Score: 1.569

Palatin Technologies Inc Stock Forecast

$0.62 (-0.50%)

Volume: 6M

Closed: Dec 08, 2021

Score Hollow Logo 1.569
Which way will PTN go? Request
Stop-loss: $0.58 (-5.76%)
Key Stats
P/E Ratio -4.24
Beta 2.16
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
RSImin/max Values: [ 25 - 75 ] RSI14 is 62 and the stock is currently not being overbought or oversold

Volatile ride for Palatin Technologies Inc stock price on Wednesday moving between $0.57 and $0.64
(Updated on Dec 08, 2021)


Buy or Hold candidate since 2021-11-26 Gain 10.38%

The Palatin Technologies Inc stock price fell by -0.50% on the last day (Wednesday, 8th Dec 2021) from $0.62 to $0.62. During the day the stock fluctuated 12.05% from a day low at $0.57 to a day high of $0.64. The price has been going up and down for this period, and there has been a 78.72% gain 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 -15 million shares and in total, 6 million shares were bought and sold for approximately $3.74 million.

The stock lies in the middle of a very wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 8.87% during the next 3 months and, with a 90% probability hold a price between $0.39 and $0.94 at the end of this 3-month period.

Signals & Forecast

The Palatin Technologies Inc 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 $0.59 and $0.46. 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). 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 Monday, November 29, 2021, and so far it has fallen -28.01%. Further fall is indicated until a new bottom pivot has been found. 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

On the downside, the stock finds support just below today's level from accumulated volume at $0.57 and $0.56. There is natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Palatin Technologies Inc finds support just below today's level at $0.57. If this is broken, then the next support from accumulated volume will be at $0.56 and $0.51.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.0688 between high and low, or 12.05%. For the last week, the stock has had a daily average volatility of 16.04%.

Our recommended stop-loss: $0.58 (-5.76%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 7 days ago.)

Is Palatin Technologies Inc 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 Palatin Technologies Inc stock to perform well in the short-term.

Current score: 1.569

Predicted Opening Price for Palatin Technologies Inc of Thursday, December 9, 2021

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

Fair opening price December 9, 2021 Current price
$0.61 $0.62 (Overvalued)
Buy Candidate Unchanged

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Volatility and Risk
Daily Average Volatility: 16.04 %
Overall Risk: Very High High Medium Low Very Low
Volatility
16.04 %
Daily Average Volatility
Overall Risk

Very High
High
Medium
Low
Very Low

Support & Resistance

Resistance: $0.62
Price: $0.62
Support: $0.57

PTN Insider Trading Show all Trades

INSIDER POWER

31.528

Last 100 transactions
Buy: 11 463 788 | Sell: 363 608 (Shares)
Date Action Amount Person Type
Aug 13, 2021 Sell 61 628 Spana Carl Common Stock
Aug 13, 2021 Sell 48 070 Spana Carl Common Stock
Aug 13, 2021 Sell 22 497 Spana Carl Common Stock
Aug 13, 2021 Sell 20 180 Spana Carl Common Stock
Aug 13, 2021 Sell 13 847 Wills Stephen T Common stock
Show all Insider Trades
INSIDER POWER

31.528

Last 100 transactions
Buy: 11 463 788 | Sell: 363 608 (Shares)

Fibonacci Support & Resistance Levels

Level Price Change
Resistance 0.68 10.09 %
0.65 5.82 %
0.64 3.19 %
Current price: 0.62
Support 0.58 -5.35 %
0.57 -7.99 %
0.54 -12.26 %

Accumulated Volume Support & Resistance Levels

Level Price Chg %
Resistance 0 .
0.71 16.15 %
0.62 0.50 %
Current price 0.62
Support 0.57 -7.39%
0.56 -9.41%
0.51 -16.43%

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