PAG.L Forecast and Technical Stock Analysis
Buy candidate since 2019-08-22
Penske Automotive Group, Inc gained 1.69% in the last trading day ( Thursday, 22nd Aug 2019 ), rising from £4.13 to £4.20 , and has now gained 6 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the day the stock fluctuated 2.68% from a day low at £4.10 to a day high of £4.21. The price has risen in 6 of the last 10 days and is up by 6.06% over the past 2 weeks. Volume fell in the last day by -29 350 shares and in total, 677 447 shares bought and sold for approximately £2.85 million. You should take into consideration that a falling volume on higher prices causes divergence and may be an early warning about possible changes for the next couple of days.
- 30 day high of the PAG.L stock price was £4.58 and low was £3.85.
- 90 day high was £4.58 and low was £3.85.
- 52 week high for Penske Automotive Group, Inc - £468.40 and low - £3.79.
Penske Automotive Group, Inc lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -8.60% during the next 3 months and, with 90% probability hold a price between £3.50 and £3.99 at the end of this period.
A buy signal was issued from a pivot bottom point on Wednesday August 14, 2019, which indicates further gains until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. Penske Automotive Group, Inc holds a buy signal from the short-term moving average; at the same time, however, a sales signal from the long-term average. Since the longterm average is above the short-term average there is a general sales signal in the stock. On further gains, the stock will meet resistance from the long-term moving average at £4.22. On a fall, the stock will find some support from the short-term average at £4.04. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sales signal and strengthen the general signal.
Relative Strength Index (RSI)
RSImin/max Values: [ 15 - 85 ]
RSI14 is 66 and the stock is currently not being overbought or oversold
* Stockinvest.us uses dynamical calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behaviour.
Support & Resistance
Penske Automotive Group, Inc finds support from accumulated volume at £4.17.
This stock may move much during a 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 £0.11 between high and low, or 2.68%. For the last week, the stock has had a daily average volatility of 2.58%.
Since the Penske Automotive Group, Inc has been rising for 6 days in a row, the risk for the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Our recommended stop-loss: £4.05 (-3.63%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from pivot bottom found 6 days ago.)
2.58 %Average volatility
Very Low Low Medium High Very High
Several short-term signals are positive, despite the stock being in a falling trend, 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. We have upgraded our recommendation for this stock since last evaluation from a Sell Candidate to a Buy Candidate.
Golden Star Signal
This unique signal uses moving averages and adds special requirements that convert the very good Golden Cross into a Golden Star.
This signal is rare and, in most cases, gives substantial returns. From 8.000 stocks usually only a few will trigger a Golden Star Signal per day!