Permianville Royalty Stock Forecast

Permianville Royalty stock price down 0.90% on Friday
(Updated on Jun 21, 2024)

PVL Signals & Forecast

There are few to no technical positive signals at the moment. The Permianville Royalty 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 $1.15 and $1.34. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, April 25, 2024, and so far it has fallen -33.73%. 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). Permianville Royalty 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 Permianville Royalty stock

There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.

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 7.48%. For the last week, the stock has had daily average volatility of 5.60%.

Permianville Royalty is oversold on RSI14 (9). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (PVL) For The Upcoming Trading Day Of Monday 24th

For the upcoming trading day on Monday, 24th we expect Permianville Royalty Trust to open at $1.11, and during the day (based on 14 day Average True Range), to move between $1.04 and $1.16, which gives a possible trading interval of +/-$0.0571 (+/-5.19%) up or down from last closing price. If Permianville Royalty Trust takes out the full calculated possible swing range there will be an estimated 10.39% move between the lowest and the highest trading price during the day.

With no support below and resistance from accumulated volume @ $1.25, some $0.150 (13.64%) from the current price of $1.10, our system finds the risk reward not very attractive.

Is Permianville Royalty Trust stock A Buy?

Permianville Royalty 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: -6.727 Strong Sell Candidate Unchanged

Predicted Opening Price for Permianville Royalty Trust of Monday, June 24, 2024

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