Taro Pharmaceutical Industries Ltd Stock Forecast
Taro Pharmaceutical Industries Ltd stock downgraded to Sell Candidate
(Updated on Apr 24, 2024)
The Taro Pharmaceutical Industries Ltd stock price fell by -0.0710% on the last day (Wednesday, 24th Apr 2024) from $42.23 to $42.20. During the last trading day the stock fluctuated 0.202% from a day low at $42.14 to a day high of $42.23. The price has been going up and down for this period, and there has been a 0.38% gain for the last 2 weeks. 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 -4 thousand shares and in total, 19 thousand shares were bought and sold for approximately $804.46 thousand.
The stock has broken the narrow and horizontal trend up. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately. $42.15 is considered to be a "second chance" to hit a potential runner. It is, however, important that volume does follow the price as false breaks may appear and it may move back into the horizontal trend. Based on the rectangle-formation theory the stock is predicted to reach $43.69 sometime during the next 3 months.
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TARO Signals & Forecast
The Taro Pharmaceutical Industries Ltd stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $42.20. On a fall, the stock will find some support from the long-term average at approximately $42.12. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell 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 Thursday, March 28, 2024, and so far it has fallen -0.331%. 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 stock had a Golden Star Signal on Tuesday, March 26, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star
The stock had a Golden Star Signal on Tuesday, March 26, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Taro Pharmaceutical Industries Ltd stock
Taro Pharmaceutical Industries Ltd finds support from accumulated volume at $42.13 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0.0850 between high and low, or 0.202%. For the last week the stock has had daily average volatility of 0.401%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (TARO) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Taro Pharmaceutical Industries Ltd to open at $42.19, and during the day (based on 14 day Average True Range), to move between $41.95 and $42.45, which gives a possible trading interval of +/-$0.254 (+/-0.60%) up or down from last closing price. If Taro Pharmaceutical Industries Ltd takes out the full calculated possible swing range there will be an estimated 1.20% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $42.13 (0.17%) than the resistance at $42.34 (0.33%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Taro Pharmaceutical Industries Ltd stock A Buy?
Taro Pharmaceutical Industries Ltd 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.217 Sell Candidate Downgraded
Predicted Opening Price for Taro Pharmaceutical Industries Ltd of Thursday, April 25, 2024
Fair opening price April 25, 2024 | Current price |
---|---|
$42.19 ( 0.0276%) | $42.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TARO
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 42.27 | 0.174 % | |
R2 | 42.24 | 0.0968 % | ||
R1 | 42.22 | 0.0493 % | ||
Current price: | 42.20 | |||
Support | S1 | 42.16 | -0.105 % | |
S2 | 42.14 | -0.152 % | ||
S3 | 42.10 | -0.229 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 43.33 | 2.68 % | |
R2 | 43.28 | 2.56 % | ||
R1 | 42.34 | 0.332 % | ||
Current price | 42.20 | |||
Support | S1 | 42.13 | -0.166% | |
S2 | 42.12 | -0.190% | ||
S3 | 40.97 | -2.91% |
TARO Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Nov 05, 2018 | Dec 10, 2018 | Dec 28, 2018 | $12.81 | 15.12% |
FAQ
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