Teck Resources Limited Class A Stock Forecast

Green day on Friday for Teck Resources Limited Class A
(Updated on May 10, 2024)

TECK-A.TO Signals & Forecast

The Teck Resources Limited Class A 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 $68.56 and $65.12. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, May 01, 2024, and so far it has risen 7.71%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. 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 also not.

Support, Risk & Stop-loss for Teck Resources Limited Class A stock

On the downside, the stock finds support just below today's level from accumulated volume at $62.55 and $61.70. 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, Teck Resources Limited Class A finds support just below today's level at $62.55. If this is broken, then the next support from accumulated volume will be at $61.70 and $53.45.

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 $0.95 between high and low, or 1.35%. For the last week the stock has had daily average volatility of 1.54%.

Our recommended stop-loss: $68.48 (-3.10%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 7 days ago.)

Trading Expectations (TECK-A.TO) For The Upcoming Trading Day Of Monday 13th

For the upcoming trading day on Monday, 13th we expect Teck Resources Limited Class A to open at $70.77, and during the day (based on 14 day Average True Range), to move between $68.95 and $72.39, which gives a possible trading interval of +/-$1.72 (+/-2.43%) up or down from last closing price. If Teck Resources Limited Class A takes out the full calculated possible swing range there will be an estimated 4.86% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $62.55, some $8.12 (11.49%) from the current price of $70.67, our system finds the risk reward attractive.

Is Teck Resources Limited Class A stock A Buy?

Teck Resources Limited Class A holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.

Current score: 6.690 Strong Buy Candidate Unchanged

Predicted Opening Price for Teck Resources Limited Class A of Monday, May 13, 2024

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