TuanChe Limited Stock Forecast
Green day on Wednesday for TuanChe Limited stock after gaining 2.40%
(Updated on Apr 24, 2024)
The TuanChe Limited stock price gained 2.40% on the last trading day (Wednesday, 24th Apr 2024), rising from $1.67 to $1.71. During the last trading day the stock fluctuated 9.62% from a day low at $1.56 to a day high of $1.71. The price has been going up and down for this period, and there has been a -5% loss for the last 2 weeks. Volume fell on the last day by -30 thousand shares and in total, 4 thousand shares were bought and sold for approximately $7.03 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 in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Due to the high volatility and the trend direction we are not able to give forecast range for this stock.
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TC Signals & Forecast
There are few to no technical positive signals at the moment. The TuanChe Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $1.76 and $1.75. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, February 15, 2024, and so far it has fallen -27.54%. 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 during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for TuanChe Limited stock
TuanChe Limited finds support from accumulated volume at $1.67 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 periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.150 between high and low, or 9.62%. For the last week the stock has had daily average volatility of 16.39%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (TC) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect TuanChe Limited to open at $1.66, and during the day (based on 14 day Average True Range), to move between $1.45 and $1.97, which gives a possible trading interval of +/-$0.261 (+/-15.26%) up or down from last closing price. If TuanChe Limited takes out the full calculated possible swing range there will be an estimated 30.52% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.67 (2.34%) than the resistance at $1.81 (5.85%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is TuanChe Limited stock A Buy?
TuanChe Limited 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.
Current score: -6.377 Strong Sell Candidate Unchanged
Predicted Opening Price for TuanChe Limited of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $1.66 ( 2.92%) | $1.71 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.81 | 5.85 % | |
| R2 | 1.75 | 2.50 % | ||
| R1 | 1.72 | 0.427 % | ||
| Current price: | 1.71 | |||
| Support | S1 | 1.60 | -6.27 % | |
| S2 | 1.57 | -8.35 % | ||
| S3 | 1.51 | -11.70 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.06 | 20.47 % | |
| R2 | 2.00 | 16.96 % | ||
| R1 | 1.81 | 5.85 % | ||
| Current price | 1.71 | |||
| Support | S1 | 1.67 | -2.34% | |
| S2 | 1.65 | -3.51% | ||
| S3 | 1.50 | -12.28% |
FAQ
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