Transmissora Aliança de Energia Stock Forecast

Stronger technical forecast for Transmissora Aliança de Energia stock price after Friday trading.
(Updated on May 17, 2024)

TAEE11.SA Signals & Forecast

There are mixed signals in the stock today. The Transmissora Aliança de Energia 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 R$34.90 and R$35.65. A break-up above any of these levels will issue buy signals. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. A buy signal was issued from a pivot bottom point on Friday, May 10, 2024, and so far it has risen 0.664%. 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).

Sell

Special Signal Notification

Double Top Formation

A sell signal from a double top formation was found on Friday, May 03, 2024 and based on theory for this formation the price should fall by -1.43% to R$34.35 within 16 trading days since signal was issued (Monday, May 20, 2024).

Support, Risk & Stop-loss for Transmissora Aliança de Energia stock

Transmissora Aliança de Energia finds support from accumulated volume at R$34.81 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved R$0.260 between high and low, or 0.746%. For the last week the stock has had daily average volatility of 0.90%.

Our recommended stop-loss: R$32.80 (-5.88%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 5 days ago.)

Trading Expectations (TAEE11.SA) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Transmissora Aliança de Energia Elétrica S.A. to open at R$34.94, and during the day (based on 14 day Average True Range), to move between R$34.34 and R$35.36, which gives a possible trading interval of +/-R$0.508 (+/-1.46%) up or down from last closing price. If Transmissora Aliança de Energia Elétrica S.A. takes out the full calculated possible swing range there will be an estimated 2.92% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at R$34.81 (0.11%) than the resistance at R$35.00 (0.43%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Transmissora Aliança de Energia Elétrica S.A. stock A Buy?

Transmissora Aliança de Energia holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.150 Hold/Accumulate Upgraded

Predicted Opening Price for Transmissora Aliança de Energia Elétrica S.A. of Monday, May 20, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.