TuanChe Limited Stock Forecast

High volatility in TuanChe Limited stock price on Friday which ended trading at $2.18
(Updated on May 03, 2024)

TC Signals & Forecast

The TuanChe Limited 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 $1.75 and $1.73. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 45.33%. Further rise is indicated until a new top pivot has been found. TuanChe Limited has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for TuanChe Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at $2.06 and $2.00. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, TuanChe Limited finds support just below today's level at $2.06. If this is broken, then the next support from accumulated volume will be at $2.00 and $1.90.

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 $0.280 between high and low, or 14.74%. For the last week, the stock has had daily average volatility of 11.39%.

Our recommended stop-loss: $2.10 (-3.82%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 9 days ago.)

Trading Expectations (TC) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect TuanChe Limited to open at $2.09, and during the day (based on 14 day Average True Range), to move between $1.96 and $2.40, which gives a possible trading interval of +/-$0.222 (+/-10.17%) up or down from last closing price. If TuanChe Limited takes out the full calculated possible swing range there will be an estimated 20.35% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $2.20 (0.69%) than the support at $2.06 (5.50%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is TuanChe Limited stock A Buy?

Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period.

Current score: 3.948 Buy Candidate Unchanged

Predicted Opening Price for TuanChe Limited of Monday, May 6, 2024

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