RSI low/high Values: [ 20 - 80 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of PREM.L
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Red day on Wednesday for Premier African Minerals Ltd stock after losing 2.17%
(Updated on Mar 27, 2024)

Sell candidate since Mar 13, 2024 Loss -16.67% PDF

The Premier African Minerals Ltd stock price fell by -2.17% on the last day (Wednesday, 27th Mar 2024) from £0.230 to £0.225. During the last trading day the stock fluctuated 9.09% from a day low at £0.220 to a day high of £0.240. The price has fallen in 6 of the last 10 days and is down by -16.67% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -50 million shares and in total, 62 million shares were bought and sold for approximately £13.96 million.

The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at £0.222 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 28.10% during the next 3 months and, with a 90% probability hold a price between £0.285 and £0.523 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, March 25, 2024, and so far it has risen 2.51%. Further rise is indicated until a new top pivot has been found. 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 sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at £0.236 and £0.292. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

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

On the downside, the stock finds support just below today's level from accumulated volume at £0.210 and £0.205. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Premier African Minerals Ltd finds support just below today's level at £0.210. If this is broken, then the next support from accumulated volume will be at £0.205 and £0.190.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved £0.0200 between high and low, or 9.09%. For the last week, the stock has had daily average volatility of 21.57%.

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 Thursday 28th

For the upcoming trading day on Thursday, 28th we expect Premier African Minerals Ltd to open at £0.228, and during the day (based on 14 day Average True Range), to move between £0.180 and £0.270, which gives a possible trading interval of +/-£0.0449 (+/-19.95%) 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 39.89% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at £0.230 (2.22%) than the support at £0.210 (6.67%), 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 Premier African Minerals Ltd stock A Buy?

The Premier African Minerals Ltd stock holds several negative signals and despite the positive trend, we believe Premier African Minerals Ltd will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Current score: -2.850 Sell Candidate Unchanged

Predicted Opening Price for Premier African Minerals Ltd of Thursday, March 28, 2024

Fair opening price March 28, 2024 Current price
£0.228 ( 1.48%) £0.225

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 0.248 10.37 %
R2 0.241 6.97 %
R1 0.236 4.88 %
Current price: 0.225
Support S1 0.221 -1.91 %
S2 0.216 -4.01 %
S3 0.208 -7.41 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 0.270 20.00 %
R2 0.240 6.67 %
R1 0.230 2.22 %
Current price 0.225
Support S1 0.210 -6.67%
S2 0.205 -8.89%
S3 0.190 -15.56%

FAQ

What is the symbol for Premier African Minerals Ltd Stock and on which exchange is it traded?
The symbol for Premier African Minerals Ltd is PREM.L and it is traded on the XLON (London Stock Exchange).

Should I buy or sell Premier African Minerals Ltd Stock?
The Premier African Minerals Ltd stock holds several negative signals and despite the positive trend, we believe Premier African Minerals Ltd will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

How to buy Premier African Minerals Ltd Stock?
Premier African Minerals Ltd Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Premier African Minerals Ltd Stock.

What's the current price of Premier African Minerals Ltd Stock?
As of the end of day on the 2024-03-27, the price of an Premier African Minerals Ltd (PREM.L) share was £0.225.

What is the 52-week high and low for Premier African Minerals Ltd Stock?
The 52-week high for Premier African Minerals Ltd Stock is £1.04 and the 52-week low is £0.150.

What is the market capitalization of Premier African Minerals Ltd Stock?
As of the 2024-03-27, the market capitalization of Premier African Minerals Ltd is 62.866M.

When is the next earnings date for Premier African Minerals Ltd?
The upcoming earnings date for Premier African Minerals Ltd is Jun 28, 2024.
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About Premier African Minerals Ltd

Premier African Minerals Ltd Premier African Minerals Limited, together with its subsidiaries, engages in the mining, exploration, evaluation, development, and investment of natural resource properties on the African continent. The company explores for tungsten, lithium, tantalum, fluorspar, potash, and gold deposits. It holds interests in various properties located in Zimbabwe and Mozambique. The company was formerly known as G&B African Resources Limited and changed its na... PREM.L Profile

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