Toughbuilt Stock Forecast
Volatile ride for Toughbuilt stock price on Tuesday moving between $2.60 and $2.99
(Updated on Apr 23, 2024)
The Toughbuilt stock price gained 1.82% on the last trading day (Tuesday, 23rd Apr 2024), rising from $2.75 to $2.80. During the last trading day the stock fluctuated 14.91% from a day low at $2.60 to a day high of $2.99. The price has fallen in 6 of the last 10 days but is still up by 10.24% over the past 2 weeks. Volume fell on the last day by -179 thousand shares and in total, 150 thousand shares were bought and sold for approximately $419.44 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $2.88 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -59.55% during the next 3 months and, with a 90% probability hold a price between $0.670 and $1.17 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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TBLT Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 29.63%. 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 Toughbuilt stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $2.94. On a fall, the stock will find some support from the short-term average at $2.41. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for Toughbuilt stock
Toughbuilt finds support from accumulated volume at $2.78 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 very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.388 between high and low, or 14.91%. For the last week the stock has had daily average volatility of 18.67%.
Our recommended stop-loss: $2.70 (-3.50%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (TBLT) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Toughbuilt Industries Inc. to open at $2.80, and during the day (based on 14 day Average True Range), to move between $2.47 and $3.13, which gives a possible trading interval of +/-$0.330 (+/-11.77%) up or down from last closing price. If Toughbuilt Industries Inc. takes out the full calculated possible swing range there will be an estimated 23.55% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $2.78 (0.71%) than the resistance at $2.96 (5.71%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Toughbuilt Industries Inc. stock A Buy?
Toughbuilt holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.957 Hold/Accumulate Unchanged
Predicted Opening Price for Toughbuilt Industries Inc. of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $2.80 ( 0.0952%) | $2.80 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TBLT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.19 | 13.76 % | |
| R2 | 3.04 | 8.47 % | ||
| R1 | 2.95 | 5.20 % | ||
| Current price: | 2.80 | |||
| Support | S1 | 2.65 | -5.39 % | |
| S2 | 2.56 | -8.66 % | ||
| S3 | 2.41 | -13.95 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.26 | 16.43 % | |
| R2 | 3.25 | 16.07 % | ||
| R1 | 2.96 | 5.71 % | ||
| Current price | 2.80 | |||
| Support | S1 | 2.78 | -0.714% | |
| S2 | 2.75 | -1.79% | ||
| S3 | 2.40 | -14.29% |
FAQ
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