Tellurian Stock Forecast
Volatile ride for Tellurian stock price on Tuesday moving between $0.603 and $0.675
(Updated on Jul 02, 2024)
The Tellurian stock price gained 2.26% on the last trading day (Tuesday, 2nd Jul 2024), rising from $0.628 to $0.642. During the last trading day the stock fluctuated 11.87% from a day low at $0.603 to a day high of $0.675. The price has been going up and down for this period, and there has been a 2.1% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 4 million more shares were traded than the day before. In total, 44 million shares were bought and sold for approximately $27.98 million.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.622 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 42.59% during the next 3 months and, with a 90% probability hold a price between $0.89 and $1.35 at the end of this 3-month period.
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TELL Signals & Forecast
The Tellurian 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 $0.708. On a fall, the stock will find some support from the long-term average at approximately $0.625. 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. Volume is rising along with the price. This is considered to be a good technical signal. 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 Tuesday, June 25, 2024, and so far it has fallen -19.53%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Tellurian stock
Tellurian finds support from accumulated volume at $0.627 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.0716 between high and low, or 11.87%. For the last week, the stock has had daily average volatility of 15.50%.
Our recommended stop-loss: $0.601 (-6.28%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 9 days ago.)
Trading Expectations (TELL) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Tellurian Inc. to open at $0.640, and during the day (based on 14 day Average True Range), to move between $0.544 and $0.739, which gives a possible trading interval of +/-$0.0978 (+/-15.24%) up or down from last closing price. If Tellurian Inc. takes out the full calculated possible swing range there will be an estimated 30.48% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.650 (1.29%) than the support at $0.627 (2.31%), 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 Tellurian Inc. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Tellurian stock to perform well in the short-term.
Current score: 2.783 Buy Candidate Unchanged
Predicted Opening Price for Tellurian Inc. of Wednesday, July 3, 2024
Fair opening price July 3, 2024 | Current price |
---|---|
$0.640 ( 0.291%) | $0.642 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TELL
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.711 | 10.87% |
R2 | 0.684 | 6.60% |
R1 | 0.667 | 3.97% |
Price | 0.642 | |
S1 | 0.612 | -4.55% |
S2 | 0.596 | -7.19% |
S3 | 0.568 | -11.45% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.748 | 16.63% |
R2 | 0.693 | 7.93% |
R1 | 0.650 | 1.29% |
Price | 0.642 | |
S1 | 0.627 | -2.31% |
S2 | 0.575 | -10.39% |
S3 | 0.503 | -21.61% |
FAQ
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