Trican Well Service Ltd. Stock Forecast
Stronger technical forecast for Trican Well Service Ltd. stock price after Monday trading.
(Updated on May 06, 2024)
The Trican Well Service Ltd. stock price gained 0.239% on the last trading day (Monday, 6th May 2024), rising from $4.18 to $4.19. During the last trading day the stock fluctuated 1.67% from a day low at $4.18 to a day high of $4.25. The price has fallen in 5 of the last 10 days and is down by -1.87% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 596 thousand more shares were traded than the day before. In total, 867 thousand shares were bought and sold for approximately $3.63 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 $4.11 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 4.65% during the next 3 months and, with a 90% probability hold a price between $4.30 and $4.88 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
TCW.TO Signals & Forecast
The Trican Well Service Ltd. 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 $4.21 and $4.25. 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). Some positive signals were issued as well, and these may have some influence on the near short-term development. A buy signal was issued from a pivot bottom point on Wednesday, May 01, 2024, and so far it has risen 2.20%. 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. The stock had a Golden Star Signal on Thursday, March 28, 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.
Golden Star 12 Months
The stock had a Golden Star Signal on Thursday, March 28, 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 Trican Well Service Ltd. stock
Trican Well Service Ltd. finds support from accumulated volume at $4.16 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.0700 between high and low, or 1.67%. For the last week, the stock has had daily average volatility of 2.40%.
Our recommended stop-loss: $3.96 (-5.51%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 3 days ago.)
Trading Expectations (TCW.TO) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Trican Well Service Ltd. to open at $4.21, and during the day (based on 14 day Average True Range), to move between $4.08 and $4.30, which gives a possible trading interval of +/-$0.109 (+/-2.59%) up or down from last closing price. If Trican Well Service Ltd. takes out the full calculated possible swing range there will be an estimated 5.19% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $4.16 (0.72%) than the resistance at $4.23 (0.95%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Trican Well Service Ltd. will release earnings BMO on Monday, May 13, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.170. We will update the financials statements for Trican Well Service Ltd., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.97% in the first trading day after earnings release.
Is Trican Well Service Ltd. stock A Buy?
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.082 Buy Candidate Upgraded
Predicted Opening Price for Trican Well Service Ltd. of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| $4.21 ( 0.398%) | $4.19 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TCW.TO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.28 | 2.07 % | |
| R2 | 4.25 | 1.43 % | ||
| R1 | 4.23 | 1.04 % | ||
| Current price: | 4.19 | |||
| Support | S1 | 4.18 | -0.240 % | |
| S2 | 4.16 | -0.635 % | ||
| S3 | 4.14 | -1.27 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.34 | 3.58 % | |
| R2 | 4.24 | 1.19 % | ||
| R1 | 4.23 | 0.95 % | ||
| Current price | 4.19 | |||
| Support | S1 | 4.16 | -0.716% | |
| S2 | 4.10 | -2.15% | ||
| S3 | 4.04 | -3.58% |
TCW Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 21, 2024 | Mar 14, 2024 | Mar 29, 2024 | $0.0450 | 1.08% |
| 2 | Nov 09, 2023 | Dec 14, 2023 | Dec 29, 2023 | $0.0400 | 0.97% |
| 3 | Aug 01, 2023 | Sep 14, 2023 | Sep 30, 2023 | $0.0400 | 0.86% |
| 4 | Jun 14, 2023 | Jun 14, 2023 | Jun 30, 2023 | $0.0400 | 1.13% |
| 5 | Mar 14, 2023 | Mar 14, 2023 | Mar 31, 2023 | $0.0400 | 1.30% |
FAQ
Click here for our free guide on how to buy Trican Well Service Ltd. Stock.
