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High volatility in Toughbuilt stock price on Friday which ended trading at $2.70

StockInvest.us, 3 months ago

Toughbuilt

The Toughbuilt stock price gained 55.17% on the last trading day (Friday, 24th Jun 2022), rising from $1.74 to $2.70. , 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 48.50% from a day low at $2.66 to a day high of $3.95. The price has fallen in 7 of the last 10 days and is down by -40.66% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 171 million more shares were traded than the day before. In total, 177 million shares were bought and sold for approximately $478.43 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 in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $1.48 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift.Given the current short-term trend, the stock is expected to rise 22.77% during the next 3 months and, with a 90% probability hold a price between $1.82 and $20.46 at the end of this 3-month period.

Toughbuilt

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. The Toughbuilt stock holds a buy signal from the short-term moving average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term moving average at $5.66. On a fall, the stock will find some support from the short-term average at $2.20. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Monday, April 25, 2022, and so far it has fallen -81.47%. Further fall is indicated until a new bottom pivot has been found.

There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.

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 $1.29 between high and low, or 48.50%. For the last week, the stock has had a daily average volatility of 22.14%.

Toughbuilt 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.

Check full Toughbuilt forecast and analysis here.