Templeton Dragon Fund Inc Stock Forecast
Green day on Friday for Templeton Dragon Fund Inc
(Updated on May 03, 2024)
The Templeton Dragon Fund Inc stock price gained 1.06% on the last trading day (Friday, 3rd May 2024), rising from $8.51 to $8.60. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.53% from a day low at $8.50 to a day high of $8.63. The price has risen in 9 of the last 10 days and is up by 10.26% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 11 thousand more shares were traded than the day before. In total, 53 thousand shares were bought and sold for approximately $458.18 thousand.
The stock has broken the weak rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $8.33, a level that may pose a second chance to hit a runner. According to fan-theory $8.84 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
TDF Signals & Forecast
The Templeton Dragon Fund Inc 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 $8.29 and $7.97. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 11.40%. 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). Templeton Dragon Fund Inc 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. The stock had a Golden Star Signal on Monday, April 22, 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 Monday, April 22, 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 Templeton Dragon Fund Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at $7.98 and $7.92. 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, Templeton Dragon Fund Inc finds support just below today's level at $7.98. If this is broken, then the next support from accumulated volume will be at $7.92 and $7.75.
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 $0.130 between high and low, or 1.53%. For the last week, the stock has had daily average volatility of 1.41%.
The Templeton Dragon Fund Inc stock is extremely overbought on RSI14 (86). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Our recommended stop-loss: $8.28 (-3.68%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 86 and this increases the risk substantially. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (TDF) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Templeton Dragon Fund Inc to open at $8.58, and during the day (based on 14 day Average True Range), to move between $8.46 and $8.74, which gives a possible trading interval of +/-$0.137 (+/-1.59%) up or down from last closing price. If Templeton Dragon Fund Inc takes out the full calculated possible swing range there will be an estimated 3.18% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $7.98, some $0.620 (7.21%) from the current price of $8.60, our system finds the risk reward attractive.
Is Templeton Dragon Fund Inc stock A Buy?
Templeton Dragon Fund Inc 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: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Templeton Dragon Fund Inc of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $8.58 ( 0.271%) | $8.60 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TDF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.71 | 1.24 % | |
| R2 | 8.66 | 0.663 % | ||
| R1 | 8.63 | 0.306 % | ||
| Current price: | 8.60 | |||
| Support | S1 | 8.53 | -0.85 % | |
| S2 | 8.50 | -1.21 % | ||
| S3 | 8.45 | -1.78 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 8.60 | |||
| Support | S1 | 7.98 | -7.21% | |
| S2 | 7.92 | -7.91% | ||
| S3 | 7.75 | -9.88% |
TDF Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 08, 2022 | Aug 12, 2022 | Dec 31, 2018 | $1.30 | 7.65% |
| 2 | Aug 23, 2021 | Sep 02, 2021 | Sep 20, 2021 | $2.40 | 13.36% |
| 3 | Dec 03, 2020 | Dec 14, 2020 | Dec 31, 2020 | $3.20 | 13.69% |
| 4 | Aug 24, 2020 | Sep 03, 2020 | Sep 21, 2020 | $2.58 | 11.66% |
| 5 | Dec 04, 2019 | Dec 13, 2019 | Dec 31, 2019 | $0.680 | 3.50% |
FAQ
Click here for our free guide on how to buy Templeton Dragon Fund Inc Stock.
