TE Connectivity Ltd stock price ended on $130.43 on Wednesday after gaining 0.184%
(Updated on Nov 29, 2023)
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The stockis at the upper part of a wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $131.74 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect TE Connectivity Ltd stock with a 90% probability to be traded between $115.22 and $131.50 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.
TEL Signals & Forecast
The TE Connectivity Ltd stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $130.80. On a fall, the stock will find some support from the long-term average at approximately $124.63. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, November 15, 2023, and so far it has fallen -1.02%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for TE Connectivity Ltd stock
TE Connectivity Ltd finds support from accumulated volume at $125.04 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 $1.35 between high and low, or 1.04%. For the last week, the stock has had daily average volatility of 0.88%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (TEL) For The Upcoming Trading Day Of Thursday 30th
For the upcoming trading day on Thursday, 30th we expect TE Connectivity Ltd to open at $130.85, and during the day (based on 14 day Average True Range), to move between $128.47 and $132.39, which gives a possible trading interval of +/-$1.96 (+/-1.50%) up or down from last closing price. If TE Connectivity Ltd takes out the full calculated possible swing range there will be an estimated 3.00% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $130.55 (0.09%) than the support at $125.04 (4.13%), 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 TE Connectivity Ltd stock A Buy?
TE Connectivity Ltd holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -1.381 Open Broker AccountSell Candidate Unchanged
Predicted Opening Price for TE Connectivity Ltd of Thursday, November 30, 2023
The predicted opening price is based on yesterday's movements between high, low, and closing price.
|Fair opening price November 30, 2023||Current price|
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Fibonacci Support & Resistance Levels
Accumulated Volume Support & Resistance Levels
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