Palatin Technologies Inc Stock Forecast
Big movements in Palatin Technologies Inc stock price on Thursday moving 19.25% between high and low
(Updated on Mar 28, 2024)
The Palatin Technologies Inc stock price gained 16.88% on the last trading day (Thursday, 28th Mar 2024), rising from $1.60 to $1.87. During the last trading day the stock fluctuated 19.25% from a day low at $1.61 to a day high of $1.92. The price has risen in 6 of the last 10 days and is up by 24.67% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 283 thousand more shares were traded than the day before. In total, 396 thousand shares were bought and sold for approximately $739.82 thousand.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -37.89% during the next 3 months and, with a 90% probability hold a price between $0.242 and $2.39 at the end of this 3-month period.
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PTN Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, March 14, 2024, and so far it has risen 24.67%. 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). Palatin Technologies Inc has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Palatin Technologies Inc 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 $2.44. On a fall, the stock will find some support from the short-term average at $1.62. 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 Palatin Technologies Inc stock
Palatin Technologies Inc finds support from accumulated volume at $1.86 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 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 $0.310 between high and low, or 19.25%. For the last week, the stock has had daily average volatility of 9.07%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PTN) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Palatin Technologies Inc to open at $1.80, and during the day (based on 14 day Average True Range), to move between $1.62 and $2.12, which gives a possible trading interval of +/-$0.253 (+/-13.55%) up or down from last closing price. If Palatin Technologies Inc takes out the full calculated possible swing range there will be an estimated 27.09% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.86 (0.53%) than the resistance at $1.98 (5.88%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Palatin Technologies Inc stock A Buy?
Palatin Technologies Inc 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: -1.583 Sell Candidate Unchanged
Predicted Opening Price for Palatin Technologies Inc of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$1.80 ( 3.74%) | $1.87 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PTN
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 2.11 | 12.83 % | |
R2 | 1.99 | 6.50 % | ||
R1 | 1.92 | 2.59 % | ||
Current price: | 1.87 | |||
Support | S1 | 1.68 | -10.08 % | |
S2 | 1.61 | -13.99 % | ||
S3 | 1.49 | -20.32 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 2.20 | 17.65 % | |
R2 | 2.01 | 7.49 % | ||
R1 | 1.98 | 5.88 % | ||
Current price | 1.87 | |||
Support | S1 | 1.86 | -0.535% | |
S2 | 1.84 | -1.60% | ||
S3 | 1.60 | -14.44% |
FAQ
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