Tabcorp Holdings Limited Stock Forecast
Tabcorp Holdings Limited stock price ended at $0.625 on Friday, after losing 3.85%.
(Updated on May 24, 2024)
The Tabcorp Holdings Limited stock price fell by -3.85% on the last day (Friday, 24th May 2024) from $0.650 to $0.625. During the last trading day the stock fluctuated 2.40% from a day low at $0.625 to a day high of $0.640. The price has fallen in 7 of the last 10 days and is down by -11.97% for this period. Volume has increased on the last day by 2 million 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, 7 million shares were bought and sold for approximately $4.53 million.
The stock has broken the wide and falling short-term trend down. Firstly a stronger fallrate is indicated, but false breaks and "sell-off" may occur. However, a further fall is realistic and any reactions back to the breaking point ($0.639) are considered to be a "second chance" to get out. According to the fan-theory $0.561 will represent the new bottom line of the next trend, but it is far too early to say this for certain.
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TAH.AX Signals & Forecast
There are few to no technical positive signals at the moment. The Tabcorp Holdings Limited 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 $0.658 and $0.707. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, March 19, 2024, and so far it has fallen -21.88%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
A sell signal from a double top formation was found on Tuesday, March 19, 2024 with a target of $0.714. Despite whether the objective of the signal formation has been reached the stock may continue to fall.
Support, Risk & Stop-loss for Tabcorp Holdings Limited stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $0.0150 between high and low, or 2.40%. For the last week, the stock has had daily average volatility of 3.81%.
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 Monday 27th
For the upcoming trading day on Monday, 27th we expect Tabcorp Holdings Limited to open at $0.630, and during the day (based on 14 day Average True Range), to move between $0.603 and $0.647, which gives a possible trading interval of +/-$0.0219 (+/-3.50%) up or down from last closing price. If Tabcorp Holdings Limited takes out the full calculated possible swing range there will be an estimated 7.00% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $0.735, some $0.110 (17.60%) from the current price of $0.625, our system finds the risk reward not very attractive.
Is Tabcorp Holdings Limited stock A Buy?
Tabcorp Holdings Limited holds several negative signals and is within a 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.
Current score: -2.674 Sell Candidate Unchanged
Predicted Opening Price for Tabcorp Holdings Limited of Monday, May 27, 2024
| Fair opening price May 27, 2024 | Current price |
|---|---|
| $0.630 ( 0.80%) | $0.625 |
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 | 0.645 | 3.20 % | |
| R2 | 0.639 | 2.28 % | ||
| R1 | 0.636 | 1.72 % | ||
| Current price: | 0.625 | |||
| Support | S1 | 0.624 | -0.117 % | |
| S2 | 0.621 | -0.683 % | ||
| S3 | 0.615 | -1.60 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.750 | 20.00 % | |
| R2 | 0.745 | 19.20 % | ||
| R1 | 0.735 | 17.60 % | ||
| Current price | 0.625 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
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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