TransAct Technologies Incorporated Stock Forecast
Weaker technical forecast for TransAct Technologies Incorporated as stock downgraded to Sell Candidate.
(Updated on Jul 02, 2024)
The TransAct Technologies Incorporated stock price fell by -2.41% on the last day (Tuesday, 2nd Jul 2024) from $3.74 to $3.65. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 3.28% from a day low at $3.60 to a day high of $3.72. The price has fallen in 5 of the last 10 days but is still up by 4.29% over the past 2 weeks. Volume has increased on the last day by 8 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, 13 thousand shares were bought and sold for approximately $46.56 thousand.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -28.44% during the next 3 months and, with a 90% probability hold a price between $1.93 and $3.00 at the end of this 3-month period. 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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TACT Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, May 28, 2024, and so far it has risen 9.28%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The TransAct Technologies Incorporated stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $3.74 and $3.68. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). TransAct Technologies Incorporated gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for TransAct Technologies Incorporated stock
TransAct Technologies Incorporated finds support from accumulated volume at $3.61 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 $0.118 between high and low, or 3.28%. For the last week, the stock has had daily average volatility of 3.62%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (TACT) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect TransAct Technologies Incorporated to open at $3.66, and during the day (based on 14 day Average True Range), to move between $3.46 and $3.84, which gives a possible trading interval of +/-$0.187 (+/-5.13%) up or down from last closing price. If TransAct Technologies Incorporated takes out the full calculated possible swing range there will be an estimated 10.26% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $3.61 (1.10%) than the resistance at $3.87 (6.03%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is TransAct Technologies Incorporated stock A Buy?
TransAct Technologies Incorporated holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore 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 Buy to a Sell candidate.
Current score: -3.859 Sell Candidate Downgraded
Predicted Opening Price for TransAct Technologies Incorporated of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $3.66 ( 0.164%) | $3.65 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TACT
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3.77 | 3.40% |
| R2 | 3.73 | 2.16% |
| R1 | 3.70 | 1.40% |
| Price | 3.65 | |
| S1 | 3.61 | -1.07% |
| S2 | 3.58 | -1.83% |
| S3 | 3.54 | -3.07% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 4.05 | 10.96% |
| R2 | 3.92 | 7.40% |
| R1 | 3.87 | 6.03% |
| Price | 3.65 | |
| S1 | 3.61 | -1.10% |
| S2 | 3.56 | -2.47% |
| S3 | 3.41 | -6.58% |
TACT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Oct 31, 2019 | Nov 19, 2019 | Dec 16, 2019 | $0.0900 | 0.82% |
| 2 | Aug 02, 2019 | Aug 19, 2019 | Sep 16, 2019 | $0.0900 | 0.771% |
| 3 | May 01, 2019 | May 17, 2019 | Jun 14, 2019 | $0.0900 | 0.84% |
| 4 | Feb 14, 2019 | Feb 19, 2019 | Mar 15, 2019 | $0.0900 | 1.03% |
| 5 | Nov 05, 2018 | Nov 19, 2018 | Dec 14, 2018 | $0.0900 | 0.98% |
FAQ
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