Torrid Holdings Inc. 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
Torrid Holdings Inc. stock upgraded to Strong Buy Candidate.
(Updated on May 02, 2024)
The Torrid Holdings Inc. stock price gained 3.36% on the last trading day (Thursday, 2nd May 2024), rising from $5.06 to $5.23. During the last trading day the stock fluctuated 3.34% from a day low at $5.09 to a day high of $5.26. The price has risen in 7 of the last 10 days and is up by 12.72% over the past 2 weeks. Volume fell on the last day by -6 thousand shares and in total, 37 thousand shares were bought and sold for approximately $192.88 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
Given the current horizontal trend, you can expect Torrid Holdings Inc. stock with a 90% probability to be traded between $3.33 and $5.20 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. 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.
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CURV Signals & Forecast
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 $5.04 and $4.48. 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 55.19%. 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. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
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 periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.170 between high and low, or 3.34%. For the last week the stock has had daily average volatility of 6.45%.
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: $5.08 (-2.96%) (This stock has high daily movements and this gives high risk. The RSI14 is 77 and this increases the risk substantially. There is a buy signal from a pivot bottom found 31 days ago.)
Trading Expectations (CURV) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Torrid Holdings Inc. to open at $5.19, and during the day (based on 14 day Average True Range), to move between $4.83 and $5.63, which gives a possible trading interval of +/-$0.400 (+/-7.65%) up or down from last closing price. If Torrid Holdings Inc. takes out the full calculated possible swing range there will be an estimated 15.29% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $5.07, some $0.160 (3.06%) from the current price of $5.23, 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.960 Strong Buy Candidate Upgraded
Predicted Opening Price for Torrid Holdings Inc. of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $5.19 ( 0.701%) | $5.23 |
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 | 5.36 | 2.55 % | |
| R2 | 5.30 | 1.31 % | ||
| R1 | 5.26 | 0.541 % | ||
| Current price: | 5.23 | |||
| Support | S1 | 5.13 | -1.94 % | |
| S2 | 5.09 | -2.71 % | ||
| S3 | 5.02 | -3.95 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 5.23 | |||
| Support | S1 | 5.07 | -3.06% | |
| S2 | 5.00 | -4.40% | ||
| S3 | 4.26 | -18.55% |
FAQ
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