TTM Technologies Stock Forecast
High volatility in TTM Technologies stock price on Wednesday which ended trading at $14.77
(Updated on May 01, 2024)
The TTM Technologies stock price fell by -1.07% on the last day (Wednesday, 1st May 2024) from $14.93 to $14.77. During the last trading day the stock fluctuated 12.32% from a day low at $13.43 to a day high of $15.09. The price has risen in 6 of the last 10 days and is up by 4.68% over the past 2 weeks. Volume has increased on the last day by 422 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, 1 million shares were bought and sold for approximately $16.20 million.
The stock lies in the middle of a 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 -4.21% during the next 3 months and, with a 90% probability hold a price between $13.03 and $15.02 at the end of this 3-month period.
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TTMI Signals & Forecast
The TTM Technologies 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 $14.85. On a fall, the stock will find some support from the long-term average at approximately $14.61. 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. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 5.12%. 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. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for TTM Technologies stock
TTM Technologies finds support from accumulated volume at $14.46 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $1.66 (12.32%) between high and low. For the last week, the stock has had daily average volatility of 4.28%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (TTMI) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect TTM Technologies to open at $14.43, and during the day (based on 14 day Average True Range), to move between $14.32 and $15.22, which gives a possible trading interval of +/-$0.452 (+/-3.06%) up or down from last closing price. If TTM Technologies takes out the full calculated possible swing range there will be an estimated 6.12% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $14.91 (0.95%) than the support at $14.46 (2.10%), 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 TTM Technologies stock A Buy?
TTM Technologies 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: -1.530 Sell Candidate Downgraded
Predicted Opening Price for TTM Technologies of Thursday, May 2, 2024
Fair opening price May 2, 2024 | Current price |
---|---|
$14.43 ( 2.31%) | $14.77 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TTMI
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 16.08 | 8.89 % | |
R2 | 15.45 | 4.61 % | ||
R1 | 15.06 | 1.97 % | ||
Current price: | 14.77 | |||
Support | S1 | 13.80 | -6.59 % | |
S2 | 13.41 | -9.24 % | ||
S3 | 12.77 | -13.52 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 16.30 | 10.36 % | |
R2 | 15.22 | 3.05 % | ||
R1 | 14.91 | 0.95 % | ||
Current price | 14.77 | |||
Support | S1 | 14.46 | -2.10% | |
S2 | 14.16 | -4.13% | ||
S3 | 14.08 | -4.67% |
FAQ
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