Transcontinental Inc. Class A Stock Forecast
Red day on Wednesday for Transcontinental Inc. Class A stock after losing 0.714%
(Updated on Apr 17, 2024)
The Transcontinental Inc. Class A stock price fell by -0.714% on the last day (Wednesday, 17th Apr 2024) from $14.00 to $13.90. During the last trading day the stock fluctuated 2.30% from a day low at $13.90 to a day high of $14.22. The price has fallen in 5 of the last 10 days and is down by -1.28% for this period. 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 -20 thousand shares and in total, 101 thousand shares were bought and sold for approximately $1.40 million.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $13.81 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 6.19% during the next 3 months and, with a 90% probability hold a price between $14.66 and $16.37 at the end of this 3-month period.
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TCL-A.TO Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 0.87%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Transcontinental Inc. Class A 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 $13.96 and $14.37. 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). 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.
Support, Risk & Stop-loss for Transcontinental Inc. Class A stock
Transcontinental Inc. Class A finds support from accumulated volume at $13.70 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.320 between high and low, or 2.30%. For the last week the stock has had daily average volatility of 2.81%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (TCL-A.TO) For The Upcoming Trading Day Of Thursday 18th
For the upcoming trading day on Thursday, 18th we expect Transcontinental Inc. Class A to open at $14.01, and during the day (based on 14 day Average True Range), to move between $13.58 and $14.22, which gives a possible trading interval of +/-$0.320 (+/-2.30%) up or down from last closing price. If Transcontinental Inc. Class A takes out the full calculated possible swing range there will be an estimated 4.60% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $14.04 (1.01%) than the support at $13.70 (1.44%), 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 Transcontinental Inc. Class A stock A Buy?
The Transcontinental Inc. Class A stock holds several negative signals and despite the positive trend, we believe Transcontinental Inc. Class A will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.810 Sell Candidate Unchanged
Predicted Opening Price for Transcontinental Inc. Class A of Thursday, April 18, 2024
| Fair opening price April 18, 2024 | Current price |
|---|---|
| $14.01 ( 0.767%) | $13.90 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TCL-A.TO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 14.33 | 3.07 % | |
| R2 | 14.20 | 2.19 % | ||
| R1 | 14.13 | 1.65 % | ||
| Current price: | 13.90 | |||
| Support | S1 | 13.88 | -0.112 % | |
| S2 | 13.81 | -0.655 % | ||
| S3 | 13.69 | -1.53 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 15.08 | 8.49 % | |
| R2 | 14.88 | 7.05 % | ||
| R1 | 14.04 | 1.01 % | ||
| Current price | 13.90 | |||
| Support | S1 | 13.70 | -1.44% | |
| S2 | 13.53 | -2.66% | ||
| S3 | 13.48 | -3.02% |
TCL-A Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 02, 2024 | Apr 02, 2024 | Apr 22, 2024 | $0 | 0% |
| 2 | Jan 05, 2024 | Jan 05, 2024 | Jan 05, 2024 | $0 | 0% |
| 3 | Jul 04, 2023 | Jul 04, 2023 | Jul 04, 2023 | $0.225 | 1.57% |
| 4 | Mar 29, 2023 | Mar 29, 2023 | Apr 17, 2023 | $0.225 | 1.57% |
| 5 | Jan 06, 2023 | Jan 06, 2023 | Jan 23, 2023 | $0.225 | 1.48% |
FAQ
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