TBC Bank Group Plc Stock Forecast

TBC Bank Group Plc stock upgraded to Hold/Accumulate.
(Updated on May 10, 2024)

TBCG.L Signals & Forecast

A buy signal was issued from a pivot bottom point on Wednesday, May 08, 2024, and so far it has risen 4.62%. Further rise is indicated until a new top pivot has been found. 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. The TBC Bank Group Plc 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 £3,050.00 and £3,149.71. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The stock had a Golden Star Signal on Monday, January 08, 2024 in the long-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 TBC Bank Group Plc stock

TBC Bank Group Plc finds support from accumulated volume at £2,995.00 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 £145.00 between high and low, or 5.03%. For the last week, the stock has had daily average volatility of 4.97%.

Our recommended stop-loss: £2,868.10 (-4.40%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 2 days ago.)

Trading Expectations (TBCG.L) For The Upcoming Trading Day Of Monday 13th

For the upcoming trading day on Monday, 13th we expect TBC Bank Group Plc to open at £2,968.33, and during the day (based on 14 day Average True Range), to move between £2,875.39 and £3,124.61, which gives a possible trading interval of +/-£124.61 (+/-4.15%) up or down from last closing price. If TBC Bank Group Plc takes out the full calculated possible swing range there will be an estimated 8.31% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at £2,995.00 (0.17%) than the resistance at £3,065.00 (2.17%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is TBC Bank Group Plc stock A Buy?

TBC Bank Group Plc holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: 0.000 Hold/Accumulate Upgraded

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for TBC Bank Group Plc of Monday, May 13, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.