Premier African Minerals Ltd 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
Big movements in Premier African Minerals Ltd stock price on Friday moving 16.67% between high and low
(Updated on Apr 19, 2024)
The Premier African Minerals Ltd stock price gained 4.00% on the last trading day (Friday, 19th Apr 2024), rising from £0.188 to £0.195. During the last trading day the stock fluctuated 16.67% from a day low at £0.180 to a day high of £0.210. The price has fallen in 6 of the last 10 days and is down by -9.3% for this period. Volume fell on the last day by -12 million shares and in total, 156 million shares were bought and sold for approximately £30.48 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at £0.178 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -15.27% during the next 3 months and, with a 90% probability hold a price between £0.151 and £0.267 at the end of this 3-month period.
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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). 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. 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 £0.250. 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.
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 £0.0300 between high and low, or 16.67%. For the last week, the stock has had daily average volatility of 12.13%.
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 Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Premier African Minerals Ltd to open at £0.195, 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 +/-£0.0323 (+/-16.54%) 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 33.09% 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 £0.205 (5.13%), 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: -3.918 Sell Candidate Unchanged
Predicted Opening Price for Premier African Minerals Ltd of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| £0.195 ( 0.00000000%) | £0.195 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PREM.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.225 | 15.38 % | |
| R2 | 0.214 | 9.51 % | ||
| R1 | 0.206 | 5.88 % | ||
| Current price: | 0.195 | |||
| Support | S1 | 0.184 | -5.88 % | |
| S2 | 0.176 | -9.51 % | ||
| S3 | 0.165 | -15.38 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.240 | 23.08 % | |
| R2 | 0.230 | 17.95 % | ||
| R1 | 0.205 | 5.13 % | ||
| Current price | 0.195 | |||
| Support | S1 | 0.193 | -1.03% | |
| S2 | 0.185 | -5.13% | ||
| S3 | 0.182 | -6.67% |
FAQ
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