Torrid Holdings Inc. Stock Forecast
Torrid Holdings Inc. stock price ended at $5.30 on Friday, after gaining 1.34%.
(Updated on May 03, 2024)
The Torrid Holdings Inc. stock price gained 1.34% on the last trading day (Friday, 3rd May 2024), rising from $5.23 to $5.30. During the last trading day the stock fluctuated 5.23% from a day low at $5.16 to a day high of $5.43. The price has risen in 7 of the last 10 days and is up by 9.73% 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, 41 thousand more shares were traded than the day before. In total, 77 thousand shares were bought and sold for approximately $410.65 thousand.
Given the current horizontal trend, you can expect Torrid Holdings Inc. stock with a 90% probability to be traded between $3.41 and $5.34 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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CURV Signals & Forecast
Mostly positive signals in the chart today. The Torrid Holdings Inc. 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 $5.09 and $4.52. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, March 19, 2024, and so far it has risen 57.27%. 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). Torrid Holdings Inc. has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk.
Support, Risk & Stop-loss for Torrid Holdings Inc. stock
Torrid Holdings Inc. finds support from accumulated volume at $5.07 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.270 between high and low, or 5.23%. For the last week, the stock has had daily average volatility of 5.81%.
The Torrid Holdings Inc. stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: $5.13 (-3.26%) (This stock has high daily movements and this gives high risk. The RSI14 is 87 and this increases the risk substantially. There is a buy signal from a pivot bottom found 32 days ago.)
Trading Expectations (CURV) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Torrid Holdings Inc. to open at $5.30, and during the day (based on 14 day Average True Range), to move between $4.91 and $5.69, which gives a possible trading interval of +/-$0.391 (+/-7.37%) up or down from last closing price. If Torrid Holdings Inc. takes out the full calculated possible swing range there will be an estimated 14.74% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $5.07, some $0.230 (4.34%) from the current price of $5.30, our system finds the risk reward attractive.
Is Torrid Holdings Inc. stock A Buy?
Torrid Holdings Inc. holds several positive signals and is considered to be a good choice at current levels. We expect the Torrid Holdings Inc. stock to perform great in the short-term period.
Current score: 7.144 Strong Buy Candidate Unchanged
Predicted Opening Price for Torrid Holdings Inc. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $5.30 ( 0.0629%) | $5.30 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CURV
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.57 | 5.03 % | |
| R2 | 5.46 | 3.09 % | ||
| R1 | 5.40 | 1.88 % | ||
| Current price: | 5.30 | |||
| Support | S1 | 5.19 | -2.01 % | |
| S2 | 5.13 | -3.21 % | ||
| S3 | 5.03 | -5.16 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 5.30 | |||
| Support | S1 | 5.07 | -4.34% | |
| S2 | 5.00 | -5.66% | ||
| S3 | 4.26 | -19.62% |
FAQ
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