Tenable Holdings Inc. Stock Forecast
Green day on Wednesday for Tenable Holdings Inc.
(Updated on May 01, 2024)
The Tenable Holdings Inc. stock price gained 0.133% on the last trading day (Wednesday, 1st May 2024), rising from $44.97 to $45.03. During the last trading day the stock fluctuated 4.00% from a day low at $44.24 to a day high of $46.01. The price has risen in 6 of the last 10 days and is up by 1.46% 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, 1 million shares were bought and sold for approximately $51.11 million.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -6.43% during the next 3 months and, with a 90% probability hold a price between $40.55 and $45.98 at the end of this 3-month period.
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TENB Signals & Forecast
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. The Tenable Holdings Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $45.66 and $47.11. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 24, 2024, and so far it has fallen -2.99%. 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 Tenable Holdings Inc. stock
Tenable Holdings Inc. finds support from accumulated volume at $44.97 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 $1.77 between high and low, or 4.00%. For the last week, the stock has had daily average volatility of 2.24%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (TENB) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Tenable Holdings Inc. to open at $45.09, and during the day (based on 14 day Average True Range), to move between $43.68 and $46.38, which gives a possible trading interval of +/-$1.35 (+/-3.00%) up or down from last closing price. If Tenable Holdings Inc. takes out the full calculated possible swing range there will be an estimated 6.00% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $44.97 (0.13%) than the resistance at $46.65 (3.60%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Tenable Holdings Inc. will release earnings AMC on Wednesday, May 01, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.180. We will update the financials statements for Tenable Holdings Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.20% in the first trading day after earnings release.
Is Tenable Holdings Inc. stock A Buy?
Tenable Holdings Inc. holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -2.902 Sell Candidate Unchanged
Predicted Opening Price for Tenable Holdings Inc. of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $45.09 ( 0.141%) | $45.03 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TENB
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 46.86 | 4.07 % | |
| R2 | 46.19 | 2.57 % | ||
| R1 | 45.77 | 1.64 % | ||
| Current price: | 45.03 | |||
| Support | S1 | 44.42 | -1.36 % | |
| S2 | 44.00 | -2.29 % | ||
| S3 | 43.32 | -3.79 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 50.72 | 12.64 % | |
| R2 | 50.15 | 11.37 % | ||
| R1 | 46.65 | 3.60 % | ||
| Current price | 45.03 | |||
| Support | S1 | 44.97 | -0.133% | |
| S2 | 44.83 | -0.444% | ||
| S3 | 44.09 | -2.09% |
FAQ
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