Phylogica Limited Stock Forecast

Green day on Wednesday for Phylogica Limited stock after gaining 4.17%
(Updated on Jun 26, 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 $0.122 and $0.108. 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 Friday, June 21, 2024, and so far it has fallen -7.41%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.

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 periodic low trading volume 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 8.27%.

Our recommended stop-loss: $0.118 (-5.28%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 4 days ago.)

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

For the upcoming trading day on Thursday, 27th we expect Phylogica Limited to open at $0.122, and during the day (based on 14 day Average True Range), to move between $0.116 and $0.134, which gives a possible trading interval of +/-$0.0093 (+/-7.43%) up or down from last closing price. If Phylogica Limited takes out the full calculated possible swing range there will be an estimated 14.85% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.135 (8.00%) than the support at $0.105 (16.00%), 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 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.

Current score: 2.786 Buy Candidate Unchanged

Predicted Opening Price for Phylogica Limited of Thursday, June 27, 2024

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