Toughbuilt Stock Forecast
Toughbuilt stock price fell more than -9.19% Thursday closing at $2.52
(Updated on Apr 25, 2024)
The Toughbuilt stock price fell by -9.19% on the last day (Thursday, 25th Apr 2024) from $2.78 to $2.52. During the last trading day the stock fluctuated 7.98% from a day low at $2.50 to a day high of $2.70. The price has fallen in 6 of the last 10 days but is still up by 3.28% over the past 2 weeks. 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 -6 thousand shares and in total, 35 thousand shares were bought and sold for approximately $89.04 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 -57.44% during the next 3 months and, with a 90% probability hold a price between $0.727 and $1.26 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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TBLT Signals & Forecast
There are mixed signals in the stock today. The Toughbuilt 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 $2.54 and $2.87. A break-up above any of these levels will issue buy signals. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 16.67%. 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).
Support, Risk & Stop-loss for Toughbuilt stock
Toughbuilt finds support from accumulated volume at $2.40 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 periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.200 between high and low, or 7.98%. For the last week the stock has had daily average volatility of 13.13%.
Our recommended stop-loss: $2.42 (-3.94%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 7 days ago.)
Trading Expectations (TBLT) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Toughbuilt Industries Inc. to open at $2.57, and during the day (based on 14 day Average True Range), to move between $2.20 and $2.84, which gives a possible trading interval of +/-$0.319 (+/-12.67%) up or down from last closing price. If Toughbuilt Industries Inc. takes out the full calculated possible swing range there will be an estimated 25.33% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $2.40 (4.76%) than the resistance at $2.75 (9.13%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Toughbuilt Industries Inc. stock A Buy?
Toughbuilt holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.884 Hold/Accumulate Unchanged
Predicted Opening Price for Toughbuilt Industries Inc. of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $2.57 ( 2.12%) | $2.52 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TBLT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.77 | 10.04 % | |
| R2 | 2.70 | 7.02 % | ||
| R1 | 2.65 | 5.15 % | ||
| Current price: | 2.52 | |||
| Support | S1 | 2.50 | -0.90 % | |
| S2 | 2.45 | -2.77 % | ||
| S3 | 2.37 | -5.79 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.80 | 11.11 % | |
| R2 | 2.78 | 10.32 % | ||
| R1 | 2.75 | 9.13 % | ||
| Current price | 2.52 | |||
| Support | S1 | 2.40 | -4.76% | |
| S2 | 2.38 | -5.56% | ||
| S3 | 2.24 | -11.11% |
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