Tecnoglass Inc. Stock Forecast
Tecnoglass Inc. stock downgraded from Buy Candidate to Hold/Accumulate after Tuesday trading session.
(Updated on Jul 02, 2024)
The Tecnoglass Inc. stock price fell by -0.239% on the last day (Tuesday, 2nd Jul 2024) from $50.29 to $50.17. During the last trading day the stock fluctuated 1.65% from a day low at $50.09 to a day high of $50.91. The price has fallen in 6 of the last 10 days but is still up by 13.02% over the past 2 weeks. 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 -133 thousand shares and in total, 295 thousand shares were bought and sold for approximately $14.78 million.
The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $50.09, a level that may pose a second chance to hit a runner. According to fan-theory $60.15 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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TGLS Signals & Forecast
The Tecnoglass Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $47.63 and $49.67. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Monday, July 01, 2024, and so far it has fallen -0.239%. Further fall is indicated until a new bottom pivot has been found. 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 Tecnoglass Inc. stock
Tecnoglass Inc. finds support from accumulated volume at $49.89 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 $0.82 between high and low, or 1.65%. For the last week, the stock has had daily average volatility of 3.39%.
Our recommended stop-loss: $48.28 (-3.77%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 5 days ago.)
Trading Expectations (TGLS) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Tecnoglass Inc. to open at $50.39, and during the day (based on 14 day Average True Range), to move between $48.10 and $52.24, which gives a possible trading interval of +/-$2.07 (+/-4.13%) up or down from last closing price. If Tecnoglass Inc. takes out the full calculated possible swing range there will be an estimated 8.27% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $50.18 (0.02%) than the support at $49.89 (0.56%), 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 Tecnoglass Inc. stock A Buy?
Tecnoglass Inc. 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.587 Hold/Accumulate Downgraded
Predicted Opening Price for Tecnoglass Inc. of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $50.39 ( 0.435%) | $50.17 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TGLS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 51.21 | 2.08% |
| R2 | 50.90 | 1.45% |
| R1 | 50.70 | 1.06% |
| Price | 50.17 | |
| S1 | 50.07 | -0.193% |
| S2 | 49.88 | -0.581% |
| S3 | 49.56 | -1.21% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 59.00 | 17.60% |
| R2 | 51.67 | 2.99% |
| R1 | 50.18 | 0.0199% |
| Price | 50.17 | |
| S1 | 49.89 | -0.558% |
| S2 | 49.62 | -1.10% |
| S3 | 44.73 | -10.84% |
TGLS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 28, 2024 | Jun 28, 2024 | Jul 31, 2024 | $0.110 | 0.219% |
| 2 | Mar 27, 2024 | Mar 27, 2024 | Apr 30, 2024 | $0.110 | 0.198% |
| 3 | Dec 28, 2023 | Dec 28, 2023 | Jan 31, 2024 | $0.0900 | 0.196% |
| 4 | Sep 07, 2023 | Sep 28, 2023 | Oct 31, 2023 | $0.0900 | 0.275% |
| 5 | Jun 15, 2023 | Jun 29, 2023 | Jul 31, 2023 | $0.0900 | 0.191% |
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