Tullow Oil Plc Stock Forecast
Tullow Oil Plc stock price down 2.59% on Tuesday
(Updated on Apr 23, 2024)
The Tullow Oil Plc stock price fell by -2.59% on the last day (Tuesday, 23rd Apr 2024) from £35.52 to £34.60. It has now fallen 5 days in a row. During the last trading day the stock fluctuated 6.55% from a day low at £34.22 to a day high of £36.46. The price has fallen in 6 of the last 10 days and is down by -1.2% for this period. Volume has increased on the last day by 303 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 3 million shares were bought and sold for approximately £107.15 million.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 13.40% during the next 3 months and, with a 90% probability hold a price between £32.50 and £43.42 at the end of this 3-month period.
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TLW.L Signals & Forecast
A sell signal was issued from a pivot top point on Friday, April 12, 2024, and so far it has fallen -8.42%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. Some positive signals were issued as well, and these may have some influence on the near short-term development. The Tullow Oil Plc stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately £35.98. On a fall, the stock will find some support from the long-term average at approximately £31.77. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal.
Support, Risk & Stop-loss for Tullow Oil Plc stock
Tullow Oil Plc finds support from accumulated volume at £34.50 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 £2.24 between high and low, or 6.55%. For the last week, the stock has had daily average volatility of 4.92%.
Our recommended stop-loss: £32.91 (-4.88%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 7 days ago.)
Trading Expectations (TLW.L) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Tullow Oil Plc to open at £35.09, and during the day (based on 14 day Average True Range), to move between £32.86 and £36.34, which gives a possible trading interval of +/-£1.74 (+/-5.03%) up or down from last closing price. If Tullow Oil Plc takes out the full calculated possible swing range there will be an estimated 10.05% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £34.50 (0.29%) than the resistance at £36.14 (4.45%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Tullow Oil Plc stock A Buy?
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period.
Current score: 1.121 Buy Candidate Unchanged
Predicted Opening Price for Tullow Oil Plc of Wednesday, April 24, 2024
Fair opening price April 24, 2024 | Current price |
---|---|
£35.09 ( 1.43%) | £34.60 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TLW.L
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 37.33 | 7.90 % | |
R2 | 36.48 | 5.43 % | ||
R1 | 35.95 | 3.90 % | ||
Current price: | 34.60 | |||
Support | S1 | 34.24 | -1.05 % | |
S2 | 33.71 | -2.58 % | ||
S3 | 32.85 | -5.05 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 37.78 | 9.19 % | |
R2 | 37.00 | 6.94 % | ||
R1 | 36.14 | 4.45 % | ||
Current price | 34.60 | |||
Support | S1 | 34.50 | -0.289% | |
S2 | 31.50 | -8.96% | ||
S3 | 27.96 | -19.19% |
TLW Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jul 24, 2019 | Aug 29, 2019 | Oct 04, 2019 | £1.89 | 0.92% |
2 | Feb 13, 2019 | Apr 04, 2019 | May 10, 2019 | £3.73 | 1.75% |
3 | Jul 30, 2014 | Aug 27, 2014 | Oct 03, 2014 | £3.41 | 0.667% |
4 | Feb 12, 2014 | Apr 02, 2014 | May 09, 2014 | £6.81 | 0.89% |
5 | Jul 31, 2013 | Aug 28, 2013 | Oct 03, 2013 | £3.41 | 0.399% |
FAQ
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