Thungela Resources Limited Stock Forecast
Red day on Friday for Thungela Resources Limited stock after losing 0.695%
(Updated on Jun 28, 2024)
The Thungela Resources Limited stock price fell by -0.695% on the last day (Friday, 28th Jun 2024) from $11,224.00 to $11,146.00. During the last trading day the stock fluctuated 3.02% from a day low at $11,104.00 to a day high of $11,439.00. The price has fallen in 6 of the last 10 days and is down by -7.5% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -42 thousand shares and in total, 199 thousand shares were bought and sold for approximately $2.22 billion.
The stock lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $10,912.37 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -14.33% during the next 3 months and, with a 90% probability hold a price between $9,348.17 and $11,225.08 at the end of this 3-month period.
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TGA.JO Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, June 25, 2024, and so far it has risen 1.13%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Thungela Resources Limited 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 $11,169.14 and $12,690.63. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Thungela Resources Limited stock
Thungela Resources Limited finds support from accumulated volume at $11,091.00 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 much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $335.00 between high and low, or 3.02%. For the last week, the stock has had daily average volatility of 3.32%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (TGA.JO) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Thungela Resources Limited to open at $11,229.67, and during the day (based on 14 day Average True Range), to move between $10,667.11 and $11,624.89, which gives a possible trading interval of +/-$478.89 (+/-4.30%) up or down from last closing price. If Thungela Resources Limited takes out the full calculated possible swing range there will be an estimated 8.59% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $11,155.00 (0.08%) than the support at $11,091.00 (0.49%), 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 Thungela Resources Limited stock A Buy?
Thungela Resources Limited 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: -3.795 Sell Candidate Unchanged
Predicted Opening Price for Thungela Resources Limited of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $11,229.67 ( 0.751%) | $11,146.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TGA.JO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 11,564.67 | 3.76% |
| R2 | 11,436.70 | 2.61% |
| R1 | 11,357.64 | 1.90% |
| Price | 11,146.00 | |
| S1 | 11,101.70 | -0.397% |
| S2 | 11,022.64 | -1.11% |
| S3 | 10,894.67 | -2.25% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 13,500.00 | 21.12% |
| R2 | 12,761.00 | 14.49% |
| R1 | 11,155.00 | 0.0807% |
| Price | 11,146.00 | |
| S1 | 11,091.00 | -0.493% |
| S2 | 11,022.00 | -1.11% |
| S3 | 0 | - |
TGA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 17, 2024 | Apr 17, 2024 | Apr 22, 2024 | $1,000.00 | 7.28% |
| 2 | Sep 20, 2023 | Sep 20, 2023 | Sep 20, 2023 | $1,000.00 | 6.29% |
| 3 | Apr 19, 2023 | Apr 19, 2023 | Apr 19, 2023 | $4,000.00 | 24.10% |
| 4 | Sep 21, 2022 | Sep 21, 2022 | Sep 21, 2022 | $6,000.00 | 18.85% |
| 5 | May 04, 2022 | May 04, 2022 | May 04, 2022 | $1,800.00 | 7.86% |
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