Pyxis Tankers Inc. Stock Forecast
Pyxis Tankers Inc. stock upgraded to Buy Candidate.
(Updated on Jul 02, 2024)
The Pyxis Tankers Inc. stock price fell by -0.0983% on the last day (Tuesday, 2nd Jul 2024) from $5.09 to $5.08. During the last trading day the stock fluctuated 1.18% from a day low at $5.07 to a day high of $5.13. The price has fallen in 5 of the last 10 days but is still up by 0.4% over the past 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 -4 thousand shares and in total, 18 thousand shares were bought and sold for approximately $89.37 thousand.
The stock lies in the middle of a wide and strong 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 11.83% during the next 3 months and, with a 90% probability hold a price between $5.49 and $6.27 at the end of this 3-month period.
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PXS Signals & Forecast
The Pyxis Tankers Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $5.04 and $5.07. 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, May 20, 2024, and so far it has fallen -4.60%. Further fall is indicated until a new bottom pivot has been found. 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.
Support, Risk & Stop-loss for Pyxis Tankers Inc. stock
Pyxis Tankers Inc. finds support from accumulated volume at $4.98 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 very controlled movements and therefore the general risk is considered very 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 $0.0600 between high and low, or 1.18%. For the last week the stock has had daily average volatility of 1.72%
Our recommended stop-loss: $4.77 (-6.02%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 47 days ago.)
Trading Expectations (PXS) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Pyxis Tankers Inc. to open at $5.09, and during the day (based on 14 day Average True Range), to move between $4.95 and $5.21, which gives a possible trading interval of +/-$0.128 (+/-2.52%) up or down from last closing price. If Pyxis Tankers Inc. takes out the full calculated possible swing range there will be an estimated 5.03% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $5.16 (1.57%) than the support at $4.98 (1.97%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Pyxis Tankers 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 Pyxis Tankers Inc. stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 1.040 Buy Candidate Upgraded
Predicted Opening Price for Pyxis Tankers Inc. of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $5.09 ( 0.262%) | $5.08 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PXS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 5.15 | 1.44% |
| R2 | 5.13 | 0.99% |
| R1 | 5.12 | 0.714% |
| Price | 5.08 | |
| S1 | 5.07 | -0.189% |
| S2 | 5.06 | -0.467% |
| S3 | 5.03 | -0.92% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 5.33 | 4.82% |
| R2 | 5.24 | 3.15% |
| R1 | 5.16 | 1.57% |
| Price | 5.08 | |
| S1 | 4.98 | -1.97% |
| S2 | 4.95 | -2.56% |
| S3 | 4.50 | -11.42% |
FAQ
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