Tabcorp Holdings Limited Stock Forecast
Green day on Tuesday for Tabcorp Holdings Limited
(Updated on Apr 23, 2024)
The Tabcorp Holdings Limited stock price gained 3.50% on the last trading day (Tuesday, 23rd Apr 2024), rising from $0.715 to $0.740. During the last trading day the stock fluctuated 4.20% from a day low at $0.715 to a day high of $0.745. The price has fallen in 5 of the last 10 days and is down by -1.33% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 133 thousand more shares were traded than the day before. In total, 6 million shares were bought and sold for approximately $4.55 million.
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 -4.69% during the next 3 months and, with a 90% probability hold a price between $0.594 and $0.766 at the end of this 3-month period.
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TAH.AX Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 5.71%. 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). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Tabcorp Holdings Limited stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $0.755. On a fall, the stock will find some support from the short-term average at $0.720. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.
Support, Risk & Stop-loss for Tabcorp Holdings Limited stock
Tabcorp Holdings Limited finds support from accumulated volume at $0.735 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.0300 (4.20%) between high and low. For the last week, the stock has had daily average volatility of 3.45%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (TAH.AX) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Tabcorp Holdings Limited to open at $0.733, and during the day (based on 14 day Average True Range), to move between $0.716 and $0.764, which gives a possible trading interval of +/-$0.0241 (+/-3.26%) up or down from last closing price. If Tabcorp Holdings Limited takes out the full calculated possible swing range there will be an estimated 6.52% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.745 (0.68%) than the support at $0.735 (0.68%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Tabcorp Holdings Limited stock A Buy?
Tabcorp Holdings Limited holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -2.308 Sell Candidate Unchanged
Predicted Opening Price for Tabcorp Holdings Limited of Wednesday, April 24, 2024
Fair opening price April 24, 2024 | Current price |
---|---|
$0.733 ( 0.90%) | $0.740 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TAH.AX
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.763 | 3.15 % | |
R2 | 0.752 | 1.60 % | ||
R1 | 0.745 | 0.648 % | ||
Current price: | 0.740 | |||
Support | S1 | 0.722 | -2.45 % | |
S2 | 0.715 | -3.41 % | ||
S3 | 0.703 | -4.95 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.80 | 8.11 % | |
R2 | 0.750 | 1.35 % | ||
R1 | 0.745 | 0.676 % | ||
Current price | 0.740 | |||
Support | S1 | 0.735 | -0.676% | |
S2 | 0.725 | -2.03% | ||
S3 | 0.650 | -12.16% |
TAH Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 27, 2024 | Feb 27, 2024 | Mar 21, 2024 | $0.0100 | 1.28% |
2 | Aug 31, 2023 | Aug 31, 2023 | Aug 31, 2023 | $0.0100 | 0.91% |
3 | Feb 24, 2023 | Feb 24, 2023 | Feb 24, 2023 | $0.0130 | 1.29% |
4 | Aug 31, 2022 | Aug 31, 2022 | Aug 31, 2022 | $0.0650 | 6.77% |
5 | Feb 22, 2022 | Feb 22, 2022 | Feb 22, 2022 | $0.0650 | 9.43% |
FAQ
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