Penske Automotive Group, Inc Forecast and Stock Analysis
Technical PAG.L stock analysis for February 15, 2019.
|Shorts||11.03% ( 2019-01-31 )|
Penske Automotive Group, Inc gained 1.90% in the last trading day, rising from £411.00 to £418.80 The price has risen in 5 of the last 10 days and is up by 1.55% over the past 2 weeks. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 134 636 more shares were traded than the day before. In total, 389 056 shares bought and sold for approximately £162.94 million.
Close price at the end of the last trading day (Friday, 15th Feb 2019) of the PAG.L stock was £418.80. This is 1.9% more than the trading day before Thursday, 14th Feb 2019.
During day the stock fluctuated 3.24% from a day low at £407.60 to a day high of £420.80.
30 day high of the PAG.L stock price was £426.60 and low was £402.00.
90 day high was £458.60 and low was £379.20.
52 week high for the Penske Automotive Group, Inc - £558.50 and low - £379.20.
Given the current horizontal trend you can expect Penske Automotive Group, Inc with 90% probability to be traded between £378.16 and £451.00 at the end of this period with 90% probability. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the roof. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
Only positive signals in the chart today. Penske Automotive Group, Inc holds buy signals from both short- and long-term moving averages. In addition, 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 £414.23 and £411.43. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday February 14, 2019, which indicates further gains until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal.
Relative Strength Index (RSI)
RSI14 is 58 and the stock is currently not being overbought or oversold
Support & Resistance
Penske Automotive Group, Inc finds support from accumulated volume at £411.80.
This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved £13.20 (3.24%) between high and low. For the last week, the stock has had a daily average volatility of 2.19%.
Our recommended stoploss: £396.99 (-5.21%) (This stock has low daily movements and this gives low risk. There is a buy signal from pivot bottom found 1 days ago.)
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Evaluation: Buy Candidate
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for this stock to perform well in the short-term period. We have upgraded our recommendation for this stock since last evaluation from a Hold/Accumulate to a Buy Candidate.