S Physical Platinum ETF Forecast
S Physical Platinum ETF upgraded from Sell Candidate to Hold/Accumulate after Thursday trading session.
(Updated on Mar 28, 2024)
The S Physical Platinum ETF price gained 1.10% on the last trading day (Thursday, 28th Mar 2024), rising from $82.64 to $83.55. During the last trading day the ETF fluctuated 0.99% from a day low at $82.88 to a day high of $83.70. The price has fallen in 6 of the last 10 days and is down by -2.23% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 46 thousand more shares were traded than the day before. In total, 113 thousand shares were bought and sold for approximately $9.48 million.
The ETF lies in the middle of a falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the ETF is expected to fall -3.48% during the next 3 months and, with a 90% probability hold a price between $76.13 and $82.88 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
PPLT Signals & Forecast
The S Physical Platinum ETF 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 $83.12 and $82.95. 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, March 13, 2024, and so far it has fallen -3.32%. 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 S Physical Platinum ETF
S Physical Platinum finds support from accumulated volume at $83.49 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the ETF moved $0.82 (0.99%) between high and low. For the last week, the ETF has had daily average volatility of 1.13%.
Our recommended stop-loss: $79.69 (-4.62%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 11 days ago.)
Trading Expectations (PPLT) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect ETFS Physical Platinum to open at $83.38, and during the day (based on 14 day Average True Range), to move between $82.03 and $85.07, which gives a possible trading interval of +/-$1.52 (+/-1.82%) up or down from last closing price. If ETFS Physical Platinum takes out the full calculated possible swing range there will be an estimated 3.64% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $83.59 (0.05%) than the support at $83.49 (0.07%), 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 ETFS Physical Platinum ETF A Buy?
S Physical Platinum 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. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.070 Hold/Accumulate Upgraded
Predicted Opening Price for ETFS Physical Platinum of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$83.38 ( 0.207%) | $83.55 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PPLT
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 84.20 | 0.772 % | |
R2 | 83.88 | 0.398 % | ||
R1 | 83.69 | 0.167 % | ||
Current price: | 83.55 | |||
Support | S1 | 83.06 | -0.581 % | |
S2 | 82.87 | -0.81 % | ||
S3 | 82.56 | -1.19 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 86.26 | 3.24 % | |
R2 | 84.24 | 0.83 % | ||
R1 | 83.59 | 0.0479 % | ||
Current price | 83.55 | |||
Support | S1 | 83.49 | -0.0718% | |
S2 | 83.34 | -0.251% | ||
S3 | 81.51 | -2.44% |
FAQ
Click here for our free guide on how to buy ETFS Physical Platinum ETF.