Taitron Components Incorporated Stock Forecast
Red day on Friday for Taitron Components Incorporated
(Updated on May 03, 2024)
The Taitron Components Incorporated stock price fell by -0.317% on the last day (Friday, 3rd May 2024) from $3.15 to $3.14. During the last trading day the stock fluctuated 1.27% from a day low at $3.14 to a day high of $3.18. The price has been going up and down for this period, and there has been a 0.32% gain for the last 2 weeks. Volume has increased on the last day by 112 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, 3 thousand shares were bought and sold for approximately $8.70 thousand.
The stock lies in the middle of a narrow 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 -2.99% during the next 3 months and, with a 90% probability hold a price between $2.98 and $3.13 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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TAIT Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 0.319%. 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. The Taitron Components Incorporated 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 $3.16 and $3.17. A break-up above any of these levels will issue buy signals. Taitron Components 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.
A buy signal from a double bottom formation was found on Wednesday, April 17, 2024 and based on theory for this formation the price should go up by 5.70% to $3.32 within 22 trading days since signal was issued (Monday, May 06, 2024).
Support, Risk & Stop-loss for Taitron Components Incorporated stock
Taitron Components Incorporated finds support from accumulated volume at $3.13 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 $0.0400 between high and low, or 1.27%. For the last week the stock has had daily average volatility of 1.14%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (TAIT) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Taitron Components Incorporated to open at $3.15, and during the day (based on 14 day Average True Range), to move between $3.09 and $3.19, which gives a possible trading interval of +/-$0.0480 (+/-1.53%) up or down from last closing price. If Taitron Components Incorporated takes out the full calculated possible swing range there will be an estimated 3.06% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $3.13 (0.32%) than the resistance at $3.17 (0.96%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Taitron Components Incorporated stock A Buy?
Taitron Components Incorporated holds several negative signals and is within a narrow 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: -3.355 Sell Candidate Unchanged
Predicted Opening Price for Taitron Components Incorporated of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $3.15 ( 0.425%) | $3.14 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TAIT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.19 | 1.70 % | |
| R2 | 3.18 | 1.21 % | ||
| R1 | 3.17 | 0.91 % | ||
| Current price: | 3.14 | |||
| Support | S1 | 3.14 | -0.0620 % | |
| S2 | 3.13 | -0.363 % | ||
| S3 | 3.11 | -0.85 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.22 | 2.55 % | |
| R2 | 3.19 | 1.59 % | ||
| R1 | 3.17 | 0.96 % | ||
| Current price | 3.14 | |||
| Support | S1 | 3.13 | -0.318% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
TAIT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 02, 2024 | Feb 15, 2024 | Feb 29, 2024 | $0.0500 | 1.54% |
| 2 | Oct 27, 2023 | Nov 09, 2023 | Nov 30, 2023 | $0.0500 | 1.49% |
| 3 | Jul 28, 2023 | Aug 10, 2023 | Aug 31, 2023 | $0.0500 | 1.40% |
| 4 | Apr 28, 2023 | May 11, 2023 | May 31, 2023 | $0.0500 | 1.28% |
| 5 | Jan 27, 2023 | Feb 09, 2023 | Feb 28, 2023 | $0.0500 | 1.31% |
FAQ
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