Tectonic Financial, Inc. Stock Forecast
Red day on Tuesday for Tectonic Financial, Inc.
(Updated on Jun 18, 2024)
The Tectonic Financial, Inc. stock price fell by -1.44% on the last day (Tuesday, 18th Jun 2024) from $10.41 to $10.26. During the last trading day the stock fluctuated 0% from a day low at $10.26 to a day high of $10.26. The price has fallen in 4 of the last 10 days but is still up by 0.34% over the past 2 weeks. Volume has increased on the last day by 233 shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 233 shares were bought and sold for approximately $2.39 thousand.
The stock is at the lower part of a narrow and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $10.20 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Tectonic Financial, Inc. stock with a 90% probability to be traded between $10.29 and $10.67 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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TECTP Signals & Forecast
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. The Tectonic Financial, Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $10.37 and $10.31. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, June 05, 2024, and so far it has fallen -2.19%. Further fall is indicated until a new bottom pivot has been found. Tectonic Financial, Inc. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued. The stock had a Golden Star Signal on Tuesday, November 14, 2023 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 Tuesday, November 14, 2023 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.
A buy signal from a double bottom formation was found on Thursday, May 23, 2024 and based on theory for this formation the price should go up by 4.14% to $10.69 within 8 trading days since signal was issued (Thursday, June 20, 2024).
Support, Risk & Stop-loss for Tectonic Financial, Inc. stock
Tectonic Financial, Inc. finds support from accumulated volume at $10.24 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0 between high and low, or 0%. For the last week the stock has had daily average volatility of 0%.
Our recommended stop-loss: $9.92 (-3.27%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 13 days ago.)
Trading Expectations (TECTP) For The Upcoming Trading Day Of Thursday 20th
For the upcoming trading day on Thursday, 20th we expect Tectonic Financial, Inc. to open at $10.26, and during the day (based on 14 day Average True Range), to move between $10.16 and $10.36, which gives a possible trading interval of +/-$0.104 (+/-1.01%) up or down from last closing price. If Tectonic Financial, Inc. takes out the full calculated possible swing range there will be an estimated 2.02% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $10.24 (0.19%) than the resistance at $10.48 (2.14%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Tectonic Financial, Inc. stock A Buy?
Tectonic Financial, Inc. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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 Tectonic Financial, Inc. of Thursday, June 20, 2024
| Fair opening price June 20, 2024 | Current price |
|---|---|
| $10.26 ( 0%) | $10.26 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TECTP
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 10.26 | - |
| R2 | 10.26 | - |
| R1 | 10.26 | - |
| Price | 10.26 | |
| S1 | 10.26 | - |
| S2 | 10.26 | - |
| S3 | 10.26 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 10.52 | 2.53% |
| R2 | 10.49 | 2.24% |
| R1 | 10.48 | 2.14% |
| Price | 10.26 | |
| S1 | 10.24 | -0.195% |
| S2 | 10.22 | -0.390% |
| S3 | 10.21 | -0.487% |
TECTP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 23, 2024 | May 02, 2024 | May 15, 2024 | $0.225 | 2.17% |
| 2 | Jan 26, 2024 | Feb 02, 2024 | Feb 15, 2024 | $0.225 | 2.21% |
| 3 | Oct 24, 2023 | Nov 02, 2023 | Nov 15, 2023 | $0.225 | 2.24% |
| 4 | Jul 25, 2023 | Aug 03, 2023 | Aug 15, 2023 | $0.225 | 2.24% |
| 5 | Apr 24, 2023 | May 04, 2023 | May 15, 2023 | $0.225 | 2.25% |
FAQ
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