Phylogica Limited Stock Forecast

Evaluation of Phylogica Limited stock downgraded after the last trading session.
(Updated on May 24, 2024)

PYC.AX Signals & Forecast

The Phylogica Limited 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 $0.107 and $0.0986. A breakdown below any of these levels will issue sell signals. Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". 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 Thursday, May 23, 2024, and so far it has fallen 0%. 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).

Support, Risk & Stop-loss for Phylogica Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at $0.105 and $0.100. There is a 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, Phylogica Limited finds support just below today's level at $0.105. If this is broken, then the next support from accumulated volume will be at $0.100 and $0.0970.

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 $0.0100 between high and low, or 8.70%. For the last week, the stock has had daily average volatility of 11.00%.

Our recommended stop-loss: $0.115 (-3.84%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 6 days ago.)

Trading Expectations (PYC.AX) For The Upcoming Trading Day Of Monday 27th

For the upcoming trading day on Monday, 27th we expect Phylogica Limited to open at $0.120, and during the day (based on 14 day Average True Range), to move between $0.111 and $0.129, which gives a possible trading interval of +/-$0.0090 (+/-7.51%) up or down from last closing price. If Phylogica Limited takes out the full calculated possible swing range there will be an estimated 15.02% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $0.105, some $0.0150 (12.50%) from the current price of $0.120, our system finds the risk reward attractive.

Is Phylogica Limited 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 Phylogica Limited stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.

Current score: 2.332 Buy Candidate Downgraded

Predicted Opening Price for Phylogica Limited of Monday, May 27, 2024

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