Technology & Telecommunication Stock Forecast
Technology & Telecommunication stock price ended at $12.00 on Tuesday, after gaining 0.167%.
(Updated on Jun 18, 2024)
The Technology & Telecommunication stock price gained 0.167% on the last trading day (Tuesday, 18th Jun 2024), rising from $11.98 to $12.00. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 0% from a day low at $12.00 to a day high of $12.00. The price has risen in 7 of the last 10 days and is up by 0.5% over the past 2 weeks.
The stock is moving within a narrow and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Technology & Telecommunication stock with a 90% probability to be traded between $12.05 and $12.12 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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TETE Signals & Forecast
The Technology & Telecommunication 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 $11.97 and $11.94. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, June 13, 2024, and so far it has risen 0.503%. 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 not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Technology & Telecommunication stock
Technology & Telecommunication finds support from accumulated volume at $11.94 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the 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 0.269%
Our recommended stop-loss: $11.40 (-5.04%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 4 days ago.)
Trading Expectations (TETE) For The Upcoming Trading Day Of Thursday 20th
For the upcoming trading day on Thursday, 20th we expect Technology & Telecommunication Acquisition Corporation to open at $12.00, and during the day (based on 14 day Average True Range), to move between $11.97 and $12.03, which gives a possible trading interval of +/-$0.0343 (+/-0.29%) up or down from last closing price. If Technology & Telecommunication Acquisition Corporation takes out the full calculated possible swing range there will be an estimated 0.57% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $11.94, some $0.0600 (0.50%) from the current price of $12.00, our system finds the risk reward attractive.
Is Technology & Telecommunication Acquisition Corporation stock A Buy?
Technology & Telecommunication holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, 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 Technology & Telecommunication Acquisition Corporation of Thursday, June 20, 2024
| Fair opening price June 20, 2024 | Current price |
|---|---|
| $12.00 ( 0%) | $12.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TETE
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 12.00 | - |
| R2 | 12.00 | - |
| R1 | 12.00 | - |
| Price | 12.00 | |
| S1 | 12.00 | - |
| S2 | 12.00 | - |
| S3 | 12.00 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 12.00 | |
| S1 | 11.94 | -0.500% |
| S2 | 11.90 | -0.83% |
| S3 | 11.89 | -0.92% |
FAQ
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