Tantech Holdings Ltd. Stock Forecast
High volatility in Tantech Holdings Ltd. stock price on Tuesday which ended trading at $0.780
(Updated on Jun 25, 2024)
The Tantech Holdings Ltd. stock price gained 2.63% on the last trading day (Tuesday, 25th Jun 2024), rising from $0.760 to $0.780. During the last trading day the stock fluctuated 33.58% from a day low at $0.711 to a day high of $0.95. The price has fallen in 7 of the last 10 days and is down by -4.65% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 3 million more shares were traded than the day before. In total, 4 million shares were bought and sold for approximately $2.76 million.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 15.51% during the next 3 months and, with a 90% probability hold a price between $0.696 and $1.18 at the end of this 3-month period.
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TANH Signals & Forecast
The Tantech Holdings Ltd. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.749 and $0.716. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Monday, May 20, 2024, and so far it has fallen -19.59%. 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).
Support, Risk & Stop-loss for Tantech Holdings Ltd. stock
Tantech Holdings Ltd. finds support from accumulated volume at $0.777 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.239 between high and low, or 33.58%. For the last week, the stock has had daily average volatility of 13.07%.
Our recommended stop-loss: $0.733 (-6.04%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 33 days ago.)
Trading Expectations (TANH) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Tantech Holdings Ltd. to open at $0.81, and during the day (based on 14 day Average True Range), to move between $0.669 and $0.89, which gives a possible trading interval of +/-$0.111 (+/-14.27%) up or down from last closing price. If Tantech Holdings Ltd. takes out the full calculated possible swing range there will be an estimated 28.54% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.777 (0.40%) than the resistance at $0.81 (3.85%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Tantech Holdings Ltd. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Tantech Holdings Ltd. stock to perform well in the short-term.
Current score: 3.243 Buy Candidate Unchanged
Predicted Opening Price for Tantech Holdings Ltd. of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $0.81 ( 4.32%) | $0.780 |
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 | |
|---|---|---|
| R3 | 1.05 | 34.94% |
| R2 | 0.96 | 23.25% |
| R1 | 0.90 | 16.02% |
| Price | 0.780 | |
| S1 | 0.723 | -7.37% |
| S2 | 0.666 | -14.60% |
| S3 | 0.575 | -26.29% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.97 | 24.36% |
| R2 | 0.84 | 7.79% |
| R1 | 0.81 | 3.85% |
| Price | 0.780 | |
| S1 | 0.777 | -0.397% |
| S2 | 0.670 | -14.10% |
| S3 | 0.657 | -15.77% |
FAQ
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