TTM Technologies Stock Forecast
On Thursday, TTM Technologies stock price gained an impressive 12.73%
(Updated on May 02, 2024)
The TTM Technologies stock price gained 12.73% on the last trading day (Thursday, 2nd May 2024), rising from $14.77 to $16.65. During the last trading day the stock fluctuated 7.18% from a day low at $15.68 to a day high of $16.80. The price has risen in 7 of the last 10 days and is up by 18.34% 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, 437 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $25.54 million.
The stockhas broken the wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $15.77, a level that may pose a second chance to hit a runner. According to fan-theory $17.89 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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TTMI Signals & Forecast
The TTM Technologies 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 $15.15 and $14.67. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 18.51%. 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.
Support, Risk & Stop-loss for TTM Technologies stock
On the downside, the stock finds support just below today's level from accumulated volume at $15.22 and $14.16. 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, TTM Technologies finds support just below today's level at $15.22. If this is broken, then the next support from accumulated volume will be at $14.16 and $14.08.
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 $1.13 (7.18%) between high and low. For the last week, the stock has had daily average volatility of 5.17%.
The TTM Technologies stock is extremely overbought on RSI14 (82). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Our recommended stop-loss: $16.09 (-3.36%) (This stock has low daily movements and this gives low risk. The RSI14 is 82 and this increases the risk substantially. There is a buy signal from a pivot bottom found 9 days ago.)
Trading Expectations (TTMI) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect TTM Technologies to open at $16.38, and during the day (based on 14 day Average True Range), to move between $16.08 and $17.22, which gives a possible trading interval of +/-$0.565 (+/-3.40%) up or down from last closing price. If TTM Technologies takes out the full calculated possible swing range there will be an estimated 6.79% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $15.22, some $1.43 (8.59%) from the current price of $16.65, our system finds the risk reward attractive.
Is TTM Technologies stock A Buy?
TTM Technologies 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Upgraded
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 TTM Technologies of Friday, May 3, 2024
Fair opening price May 3, 2024 | Current price |
---|---|
$16.38 ( 1.65%) | $16.65 |
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 | 17.50 | 5.11 % | |
R2 | 17.07 | 2.52 % | ||
R1 | 16.80 | 0.93 % | ||
Current price: | 16.65 | |||
Support | S1 | 15.95 | -4.23 % | |
S2 | 15.68 | -5.83 % | ||
S3 | 15.25 | -8.41 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 16.65 | |||
Support | S1 | 15.22 | -8.59% | |
S2 | 14.16 | -14.95% | ||
S3 | 14.08 | -15.44% |
FAQ
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