Penske Automotive Group, Inc Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Penske Automotive Group, Inc stock price ended at £685.50 on Thursday, after gaining 1.11%.
(Updated on Apr 18, 2024)
The Penske Automotive Group, Inc stock price gained 1.11% on the last trading day (Thursday, 18th Apr 2024), rising from £678.00 to £685.50. During the last trading day the stock fluctuated 3.81% from a day low at £669.50 to a day high of £695.00. The price has risen in 5 of the last 10 days but is still down by -0.07% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 144 thousand more shares were traded than the day before. In total, 363 thousand shares were bought and sold for approximately £248.50 million.
The stock is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Penske Automotive Group, Inc stock with a 90% probability to be traded between £642.63 and £706.30 at the end of this 3-month period. 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 top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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PAG.L Signals & Forecast
The Penske Automotive Group, Inc 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 £682.64 and £674.20. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. 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 Wednesday, April 10, 2024, and so far it has fallen -2.14%. 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 Penske Automotive Group, Inc stock
Penske Automotive Group, Inc finds support from accumulated volume at £671.50 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 very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved £25.50 between high and low, or 3.81%. For the last week the stock has had daily average volatility of 3.05%.
Our recommended stop-loss: £654.52 (-4.52%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 6 days ago.)
Trading Expectations (PAG.L) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Penske Automotive Group, Inc to open at £683.33, and during the day (based on 14 day Average True Range), to move between £664.97 and £706.03, which gives a possible trading interval of +/-£20.53 (+/-2.99%) up or down from last closing price. If Penske Automotive Group, Inc takes out the full calculated possible swing range there will be an estimated 5.99% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £686.00 (0.07%) than the support at £671.50 (2.04%), 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 Penske Automotive Group, Inc stock A Buy?
Penske Automotive Group, Inc holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.498 Hold/Accumulate Unchanged
Predicted Opening Price for Penske Automotive Group, Inc of Friday, April 19, 2024
Fair opening price April 19, 2024 | Current price |
---|---|
£683.33 ( 0.316%) | £685.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PAG.L
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 708.83 | 3.40 % | |
R2 | 699.09 | 1.98 % | ||
R1 | 693.07 | 1.10 % | ||
Current price: | 685.50 | |||
Support | S1 | 673.59 | -1.74 % | |
S2 | 667.57 | -2.61 % | ||
S3 | 657.83 | -4.04 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 705.00 | 2.84 % | |
R2 | 704.00 | 2.70 % | ||
R1 | 686.00 | 0.0729 % | ||
Current price | 685.50 | |||
Support | S1 | 671.50 | -2.04% | |
S2 | 644.00 | -6.05% | ||
S3 | 637.00 | -7.08% |
PAG Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 01, 2024 | Feb 01, 2024 | Feb 01, 2024 | £0 | 0% |
2 | Jul 06, 2023 | Jul 06, 2023 | Jul 06, 2023 | £11.00 | 2.16% |
3 | Dec 06, 2022 | Feb 02, 2023 | Mar 03, 2023 | £19.20 | 3.21% |
4 | Jun 14, 2022 | Jul 07, 2022 | Jul 29, 2022 | £9.40 | 1.76% |
5 | Dec 07, 2021 | Jan 27, 2022 | Mar 04, 2022 | £18.90 | 4.27% |
FAQ
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