TopBuild Corp Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
TopBuild Corp stock downgraded to Sell Candidate
(Updated on May 03, 2024)
The TopBuild Corp stock price fell by -1.59% on the last day (Friday, 3rd May 2024) from $408.88 to $402.37. During the last trading day the stock fluctuated 5.88% from a day low at $401.86 to a day high of $425.50. The price has risen in 7 of the last 10 days and is up by 4.7% over the past 2 weeks. Volume has increased on the last day by 554 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, 789 thousand shares were bought and sold for approximately $317.30 million.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 5.06% during the next 3 months and, with a 90% probability hold a price between $407.46 and $476.92 at the end of this 3-month period.
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BLD Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 4.70%. 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. The TopBuild Corp stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $405.20 and $416.57. A break-up above any of these levels will issue buy signals. 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 TopBuild Corp stock
TopBuild Corp finds support from accumulated volume at $400.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $23.64 between high and low, or 5.88%. For the last week, the stock has had daily average volatility of 3.55%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BLD) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect TopBuild Corp to open at $409.91, and during the day (based on 14 day Average True Range), to move between $387.15 and $417.59, which gives a possible trading interval of +/-$15.22 (+/-3.78%) up or down from last closing price. If TopBuild Corp takes out the full calculated possible swing range there will be an estimated 7.57% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $400.00 (0.59%) than the resistance at $408.96 (1.64%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is TopBuild Corp stock A Buy?
The TopBuild Corp stock holds several negative signals and despite the positive trend, we believe TopBuild Corp will perform weakly in the next couple of days or weeks. Therefore, we 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: -1.141 Sell Candidate Downgraded
Predicted Opening Price for TopBuild Corp of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $409.91 ( 1.87%) | $402.37 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BLD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 433.55 | 7.75 % | |
| R2 | 424.52 | 5.50 % | ||
| R1 | 418.94 | 4.12 % | ||
| Current price: | 402.37 | |||
| Support | S1 | 400.88 | -0.370 % | |
| S2 | 395.30 | -1.76 % | ||
| S3 | 386.27 | -4.00 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 424.38 | 5.47 % | |
| R2 | 410.61 | 2.05 % | ||
| R1 | 408.96 | 1.64 % | ||
| Current price | 402.37 | |||
| Support | S1 | 400.00 | -0.589% | |
| S2 | 395.13 | -1.80% | ||
| S3 | 391.53 | -2.69% |
FAQ
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