Big movements in Toughbuilt stock price on Friday moving 35.76% between high and lowStockInvest.us, 1 month ago
The Toughbuilt stock price gained 20.99% on the last trading day (Friday, 29th Jul 2022), rising from $5.86 to $7.09. , and has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the day the stock fluctuated 35.76% from a day low at $6.60 to a day high of $8.96. The price has risen in 7 of the last 10 days and is up by 168.56% 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, 9 million more shares were traded than the day before. In total, 79 million shares were bought and sold for approximately $561.33 million.
HC Wainwright & Co. is very positive about TBLT and gave it a "" rating on Oct 19, 2021. The price target was set to 1.5.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $7.42 will firstly indicate a slower falling rate, but may be the first sign of a trend shift.Due to the high volatility and the trend direction we are not able to give forecast range for this stock. 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.
The Toughbuilt 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 $6.07 and $3.32. A breakdown below any of these levels will issue sell signals. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, July 22, 2022, and so far it has fallen -11.15%. Further fall is indicated until a new bottom pivot has been found.
On the downside, the stock finds support just below today's level from accumulated volume at $5.88 and $5.86.There is 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, Toughbuilt finds support just below today's level at $5.88. If this is broken, then the next support from accumulated volume will be at $5.86 and $5.72.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $2.36 between high and low, or 35.76%. For the last week, the stock has had a daily average volatility of 22.27%.
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.Check full Toughbuilt forecast and analysis here.