Petrus Resources Ltd. Stock Forecast

Red day on Wednesday for Petrus Resources Ltd.
(Updated on Jul 03, 2024)

PTRUF Signals & Forecast

The Petrus Resources Ltd. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $1.01. On a fall, the stock will find some support from the long-term average at approximately $1.00. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. A buy signal was issued from a pivot bottom point on Monday, June 17, 2024, and so far it has risen 5.26%. 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. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued. The stock had a Golden Star Signal on Tuesday, May 07, 2024 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Petrus Resources Ltd. stock

Petrus Resources Ltd. finds support from accumulated volume at $0.97 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 controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the stock. During the last day, the stock moved $0.0400 between high and low, or 4.04%. For the last week the stock has had daily average volatility of 1.20%.

Our recommended stop-loss: $0.95 (-4.95%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 30 days ago.)

Trading Expectations (PTRUF) For The Upcoming Trading Day Of Friday 5th

For the upcoming trading day on Friday, 5th we expect Petrus Resources Ltd. to open at $1.01, and during the day (based on 14 day Average True Range), to move between $0.98 and $1.02, which gives a possible trading interval of +/-$0.0166 (+/-1.66%) up or down from last closing price. If Petrus Resources Ltd. takes out the full calculated possible swing range there will be an estimated 3.32% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.97 (3.00%) than the resistance at $1.04 (3.75%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Petrus Resources Ltd. stock A Buy?

Petrus Resources Ltd. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.545 Hold/Accumulate Unchanged

Predicted Opening Price for Petrus Resources Ltd. of Friday, July 5, 2024

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