Sprott Physical Platinum and Palladium Stock Forecast

Red day on Friday for Sprott Physical Platinum and Palladium
(Updated on Apr 19, 2024)

SPPP Signals & Forecast

The Sprott Physical Platinum and Palladium 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 $9.90. On a fall, the stock will find some support from the long-term average at approximately $9.72. 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. 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 Tuesday, April 09, 2024, and so far it has fallen -4.97%. 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 stock had a Golden Star Signal on Tuesday, March 05, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Monday, April 01, 2024.

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 Sprott Physical Platinum and Palladium stock

Sprott Physical Platinum and Palladium finds support from accumulated volume at $9.62 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 $0.106 between high and low, or 1.09%. For the last week the stock has had daily average volatility of 1.58%.

Our recommended stop-loss: $9.25 (-5.09%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 8 days ago.)

Trading Expectations (SPPP) For The Upcoming Trading Day Of Monday 22nd

For the upcoming trading day on Monday, 22nd we expect Sprott Physical Platinum and Palladium Trust to open at $9.74, and during the day (based on 14 day Average True Range), to move between $9.52 and $9.98, which gives a possible trading interval of +/-$0.225 (+/-2.31%) up or down from last closing price. If Sprott Physical Platinum and Palladium Trust takes out the full calculated possible swing range there will be an estimated 4.62% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $9.62 (1.33%) than the resistance at $9.91 (1.64%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Sprott Physical Platinum and Palladium Trust 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 Sprott Physical Platinum and Palladium stock to perform well in the short-term.

Current score: 2.655 Buy Candidate Unchanged

Predicted Opening Price for Sprott Physical Platinum and Palladium Trust of Monday, April 22, 2024

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