TriMas Corporation Stock Forecast

Green day on Tuesday for TriMas Corporation
(Updated on Apr 23, 2024)

TRS Signals & Forecast

There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Thursday, March 28, 2024, and so far it has fallen -1.80%. 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). The TriMas Corporation 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 $25.61 and $25.59. A breakdown below any of these levels will issue sell signals. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. The stock had a Golden Star Signal on Monday, March 18, 2024 in the short-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 TriMas Corporation stock

On the downside, the stock finds support just below today's level from accumulated volume at $24.71 and $23.50. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, TriMas Corporation finds support just below today's level at $24.71. If this is broken, then the next support from accumulated volume will be at $23.50 and $23.48.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.510 between high and low, or 1.98%. For the last week the stock has had daily average volatility of 2.25%.

Our recommended stop-loss: $25.28 (-3.69%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 17 days ago.)

Trading Expectations (TRS) For The Upcoming Trading Day Of Wednesday 24th

For the upcoming trading day on Wednesday, 24th we expect TriMas Corporation to open at $26.10, and during the day (based on 14 day Average True Range), to move between $25.69 and $26.81, which gives a possible trading interval of +/-$0.557 (+/-2.12%) up or down from last closing price. If TriMas Corporation takes out the full calculated possible swing range there will be an estimated 4.25% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $26.38 (0.50%) than the support at $24.71 (5.87%), 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 TriMas Corporation stock A Buy?

TriMas Corporation 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: -0.267 Hold/Accumulate Unchanged

Predicted Opening Price for TriMas Corporation of Wednesday, April 24, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.