TransAct Technologies Incorporated Stock Forecast
TransAct Technologies Incorporated stock downgraded from Hold/Accumulate to Sell Candidate after Friday trading session.
(Updated on Apr 26, 2024)
The TransAct Technologies Incorporated stock price gained 3.59% on the last trading day (Friday, 26th Apr 2024), rising from $4.73 to $4.90. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 4.68% from a day low at $4.73 to a day high of $4.95. The price has risen in 6 of the last 10 days and is up by 1.87% over the past 2 weeks. Volume fell on the last day by -29 thousand shares and in total, 20 thousand shares were bought and sold for approximately $96.91 thousand. 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 the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $4.93 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -43.22% during the next 3 months and, with a 90% probability hold a price between $2.33 and $2.80 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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TACT Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 23, 2024, and so far it has risen 7.69%. 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 TransAct Technologies Incorporated 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 $5.20. On a fall, the stock will find some support from the short-term average at $4.71. 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 the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for TransAct Technologies Incorporated stock
TransAct Technologies Incorporated finds support from accumulated volume at $4.73 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.221 between high and low, or 4.68%. For the last week the stock has had daily average volatility of 5.68%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (TACT) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect TransAct Technologies Incorporated to open at $4.86, and during the day (based on 14 day Average True Range), to move between $4.68 and $5.12, which gives a possible trading interval of +/-$0.219 (+/-4.46%) up or down from last closing price. If TransAct Technologies Incorporated takes out the full calculated possible swing range there will be an estimated 8.92% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $5.05 (3.06%) than the support at $4.73 (3.47%), 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 TransAct Technologies Incorporated stock A Buy?
TransAct Technologies Incorporated 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.496 Sell Candidate Downgraded
Predicted Opening Price for TransAct Technologies Incorporated of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $4.86 ( 0.83%) | $4.90 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TACT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.08 | 3.69 % | |
| R2 | 5.00 | 1.97 % | ||
| R1 | 4.94 | 0.90 % | ||
| Current price: | 4.90 | |||
| Support | S1 | 4.78 | -2.55 % | |
| S2 | 4.72 | -3.62 % | ||
| S3 | 4.64 | -5.34 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.88 | 20.00 % | |
| R2 | 5.30 | 8.16 % | ||
| R1 | 5.05 | 3.06 % | ||
| Current price | 4.90 | |||
| Support | S1 | 4.73 | -3.47% | |
| S2 | 4.67 | -4.69% | ||
| S3 | 4.55 | -7.14% |
TACT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Oct 31, 2019 | Nov 19, 2019 | Dec 16, 2019 | $0.0900 | 0.82% |
| 2 | Aug 02, 2019 | Aug 19, 2019 | Sep 16, 2019 | $0.0900 | 0.771% |
| 3 | May 01, 2019 | May 17, 2019 | Jun 14, 2019 | $0.0900 | 0.84% |
| 4 | Feb 14, 2019 | Feb 19, 2019 | Mar 15, 2019 | $0.0900 | 1.03% |
| 5 | Nov 05, 2018 | Nov 19, 2018 | Dec 14, 2018 | $0.0900 | 0.98% |
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