TORM PLC Class A Stock Forecast
TORM PLC Class A stock price up 1.91% on Monday
(Updated on May 13, 2024)
The TORM PLC Class A stock price gained 1.91% on the last trading day (Monday, 13th May 2024), rising from $36.22 to $36.91. During the last trading day the stock fluctuated 1.45% from a day low at $36.62 to a day high of $37.15. The price has risen in 6 of the last 10 days and is up by 5.94% 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, 264 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $45.84 million.
The stock has broken the wide and weak rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $36.76, a level that may pose a second chance to hit a runner. According to fan-theory $41.01 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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TRMD Signals & Forecast
The TORM PLC Class A stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $35.67 and $34.55. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 14.73%. 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). Volume is rising along with the price. This is considered to be a good technical signal. The stock had a Golden Star Signal on Monday, September 18, 2023 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Monday, September 18, 2023 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for TORM PLC Class A stock
TORM PLC Class A finds support from accumulated volume at $35.80 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.530 between high and low, or 1.45%. For the last week, the stock has had daily average volatility of 2.37%.
Our recommended stop-loss: $35.24 (-4.52%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 17 days ago.)
Trading Expectations (TRMD) For The Upcoming Trading Day Of Tuesday 14th
For the upcoming trading day on Tuesday, 14th we expect TORM PLC Class A to open at $36.89, and during the day (based on 14 day Average True Range), to move between $36.02 and $37.80, which gives a possible trading interval of +/-$0.89 (+/-2.41%) up or down from last closing price. If TORM PLC Class A takes out the full calculated possible swing range there will be an estimated 4.82% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $35.80, some $1.11 (3.01%) from the current price of $36.91, our system finds the risk reward attractive.
Is TORM PLC Class A stock A Buy?
TORM PLC Class A 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: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for TORM PLC Class A of Tuesday, May 14, 2024
| Fair opening price May 14, 2024 | Current price |
|---|---|
| $36.89 ( 0.0451%) | $36.91 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TRMD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 37.42 | 1.39 % | |
| R2 | 37.22 | 0.84 % | ||
| R1 | 37.10 | 0.503 % | ||
| Current price: | 36.91 | |||
| Support | S1 | 36.69 | -0.593 % | |
| S2 | 36.57 | -0.93 % | ||
| S3 | 36.36 | -1.48 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 36.91 | |||
| Support | S1 | 35.80 | -3.01% | |
| S2 | 33.76 | -8.53% | ||
| S3 | 32.80 | -11.14% |
TRMD Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 21, 2024 | May 21, 2024 | Jun 04, 2024 | $1.50 | 4.07% |
| 2 | Mar 07, 2024 | Apr 15, 2024 | Apr 24, 2024 | $0.99 | 2.97% |
| 3 | Nov 09, 2023 | Nov 21, 2023 | Dec 05, 2023 | $1.46 | 5.32% |
| 4 | Aug 28, 2023 | Aug 28, 2023 | Sep 12, 2023 | $1.50 | 5.95% |
| 5 | May 11, 2023 | May 22, 2023 | Jun 06, 2023 | $1.46 | 6.13% |
FAQ
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