Tredegar Corporation Stock Forecast

Stronger technical forecast for Tredegar Corporation stock price after Thursday trading.
(Updated on Apr 25, 2024)

TG Signals & Forecast

There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Friday, April 05, 2024, and so far it has fallen 0%. 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). 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 also not. The Tredegar Corporation 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 $6.46 and $5.90. A breakdown below any of these levels will issue sell signals.

Support, Risk & Stop-loss for Tredegar Corporation stock

Tredegar Corporation finds support from accumulated volume at $6.47 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 $0.160 between high and low, or 2.49%. For the last week the stock has had daily average volatility of 2.32%

Our recommended stop-loss: $6.33 (-3.50%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 14 days ago.)

Trading Expectations (TG) For The Upcoming Trading Day Of Friday 26th

For the upcoming trading day on Friday, 26th we expect Tredegar Corporation to open at $6.52, and during the day (based on 14 day Average True Range), to move between $6.34 and $6.78, which gives a possible trading interval of +/-$0.216 (+/-3.30%) up or down from last closing price. If Tredegar Corporation takes out the full calculated possible swing range there will be an estimated 6.59% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $6.47, some $0.0900 (1.37%) from the current price of $6.56, our system finds the risk reward attractive.

Is Tredegar Corporation 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 Tredegar Corporation stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 1.450 Buy Candidate Upgraded

Predicted Opening Price for Tredegar Corporation of Friday, April 26, 2024

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