Pershing Square Tontine Holdings Ltd. [NYSE:PSTH] shares are showing an active tape with a current price of $23.11 on Friday.
For the year, the stock is trading 5.32% and the five-day change stands at 0.31%. As a point of reference, the S&P 500 is trading 1.11% YTD.
Wait and see
Pershing Square Tontine Holdings Ltd. has seen a trading range over the last year of $21.50-$23.44.
For the last five days, PSTH is up from its last closing price. The average shares trading hands each day is 1.06M, with average 10-day volume coming in at 1.05 million.
Using a Force Index Indicator is a good way to look at how strong actual buying and selling pressure is for PSTH. When we apply the Elder Force Index to Pershing Square Tontine Holdings Ltd., we are seeing an Elder Force Indicator number of 207484.92.
Technical Analysis
Looking at popular technical indicators, the company’s 5-day moving average is 22.63 compared to the 50-day moving average of 22.51. So, we are clearly seeing an upward trajectory here.
The Relative Strength Index or RSI is an indicator ranging between 0 and 100 that traders use to determine if a stock is “overbought” or “oversold.” A strong uptrend tending to reach into the “overbought” status is above 70, while a downward trend will stay around the 30 mark. PSTH currently holds a 9-day RSI of 70.63%.
Another indicator we believe is worth keeping tabs on is the Moving Average Convergence Divergence or MACD. Similar to the concept of the Force Index — on the basis of price momentum — the MACD gives traders a tool to measure the turning point of a stock even during rapid fluctuations in price. Buy and sell signals are determined by a stock’s relation to the zero line, so if a stock is above a zero line for many weeks it might be a “buy.” On the other hand, if a stock is below the zero line consistently, it might be one to stay away from. Also, if the MACD line reaches a peak and dips, its momentum may be waning. PSTH’s 9-day MACD is 0.11.
Inside Moves
Another area that is important to analyze is insider moves and majority shareholders. While this is not always an error-free way to tell what the future holds for a stock, you can maybe gather important information from reading the tea leaves about who is buying and selling.
