Tetragon Financial Group Limited Stock Forecast

Stronger technical forecast for Tetragon Financial Group Limited stock price after Friday trading.
(Updated on May 03, 2024)

TFG.L Signals & Forecast

There are mixed signals in the stock today. The Tetragon Financial Group Limited stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at £9.80. On a fall, the stock will find some support from the short-term average at £9.65. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Tetragon Financial Group Limited 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. A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 2.63%. Further rise is indicated until a new top pivot has been found.

Support, Risk & Stop-loss for Tetragon Financial Group Limited stock

Tetragon Financial Group Limited finds support from accumulated volume at £9.70 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved £0 (0%) between high and low. For the last week, the stock has had daily average volatility of 0.628%.

Our recommended stop-loss: £9.31 (-4.46%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 6 days ago.)

Trading Expectations (TFG.L) For The Upcoming Trading Day Of Tuesday 7th

For the upcoming trading day on Tuesday, 7th we expect Tetragon Financial Group Limited to open at £9.75, and during the day (based on 14 day Average True Range), to move between £9.65 and £9.85, which gives a possible trading interval of +/-£0.103 (+/-1.05%) up or down from last closing price. If Tetragon Financial Group Limited takes out the full calculated possible swing range there will be an estimated 2.11% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at £9.78 (0.26%) than the support at £9.70 (0.51%), 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 Tetragon Financial Group Limited stock A Buy?

Tetragon Financial Group Limited 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: 0.000 Hold/Accumulate Upgraded

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 Tetragon Financial Group Limited of Tuesday, May 7, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.