Premier African Minerals Ltd Stock Forecast

Volatile ride for Premier African Minerals Ltd stock price on Monday moving between £0.185 and £0.210
(Updated on Apr 22, 2024)

PREM.L Signals & Forecast

A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 7.14%. Further rise is indicated until a new top pivot has been found. 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. The Premier African Minerals Ltd stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at £0.246. On a fall, the stock will find some support from the short-term average at £0.188. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Volume fell during the last trading day while price remained unchanged. This may be an early warning, but it may also not. We still recommend that you pay attention over the next couple of days.

Support, Risk & Stop-loss for Premier African Minerals Ltd stock

Premier African Minerals Ltd finds support from accumulated volume at £0.193 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move much during the 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 £0.0250 between high and low, or 13.51%. For the last week, the stock has had daily average volatility of 13.12%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (PREM.L) For The Upcoming Trading Day Of Tuesday 23rd

For the upcoming trading day on Tuesday, 23rd we expect Premier African Minerals Ltd to open at £0.197, and during the day (based on 14 day Average True Range), to move between £0.163 and £0.227, which gives a possible trading interval of +/-£0.0318 (+/-16.29%) up or down from last closing price. If Premier African Minerals Ltd takes out the full calculated possible swing range there will be an estimated 32.59% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at £0.193 (1.03%) than the resistance at £0.230 (17.95%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Premier African Minerals Ltd stock A Buy?

Premier African Minerals Ltd holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.

Current score: -4.024 Sell Candidate Unchanged

Predicted Opening Price for Premier African Minerals Ltd of Tuesday, April 23, 2024

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