Tantech Holdings Ltd. Stock Forecast
Evaluation of Tantech Holdings Ltd. stock downgraded after the last trading session.
(Updated on Apr 24, 2024)
The Tantech Holdings Ltd. stock price fell by -1.93% on the last day (Wednesday, 24th Apr 2024) from $0.571 to $0.560. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 7.89% from a day low at $0.538 to a day high of $0.580. The price has fallen in 6 of the last 10 days and is down by -24.32% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -224 thousand shares and in total, 159 thousand shares were bought and sold for approximately $88.84 thousand.
Given the current horizontal trend, you can expect Tantech Holdings Ltd. stock with a 90% probability to be traded between $0.560 and $0.97 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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TANH Signals & Forecast
There are few to no technical positive signals at the moment. The Tantech Holdings Ltd. 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 $0.652 and $0.679. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, February 16, 2024, and so far it has fallen -42.27%. 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 fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Tantech Holdings Ltd. 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0424 between high and low, or 7.89%. For the last week the stock has had daily average volatility of 17.94%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (TANH) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Tantech Holdings Ltd. to open at $0.559, and during the day (based on 14 day Average True Range), to move between $0.480 and $0.640, which gives a possible trading interval of +/-$0.0800 (+/-14.29%) up or down from last closing price. If Tantech Holdings Ltd. takes out the full calculated possible swing range there will be an estimated 28.59% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $0.628, some $0.0675 (12.05%) from the current price of $0.560, our system finds the risk reward not very attractive.
Is Tantech Holdings Ltd. stock A Buy?
Tantech Holdings Ltd. 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 Sell to a Strong Sell candidate.
Current score: -5.494 Strong Sell Candidate Downgraded
Predicted Opening Price for Tantech Holdings Ltd. of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $0.559 ( 0.155%) | $0.560 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TANH
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.602 | 7.42 % | |
| R2 | 0.585 | 4.52 % | ||
| R1 | 0.575 | 2.74 % | ||
| Current price: | 0.560 | |||
| Support | S1 | 0.543 | -3.05 % | |
| S2 | 0.533 | -4.83 % | ||
| S3 | 0.517 | -7.73 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.670 | 19.64 % | |
| R2 | 0.640 | 14.29 % | ||
| R1 | 0.628 | 12.05 % | ||
| Current price | 0.560 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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