TEGNA Inc Stock Forecast
TEGNA Inc stock downgraded to Strong Sell Candidate
(Updated on Jul 02, 2024)
The TEGNA Inc stock price fell by -1.80% on the last day (Tuesday, 2nd Jul 2024) from $13.89 to $13.64. During the last trading day the stock fluctuated 2.24% from a day low at $13.61 to a day high of $13.91. The price has risen in 6 of the last 10 days and is up by 7.23% 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 -530 thousand shares and in total, 2 million shares were bought and sold for approximately $29.66 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect TEGNA Inc stock with a 90% probability to be traded between $12.43 and $15.26 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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TGNA Signals & Forecast
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. The TEGNA Inc 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 $13.74 and $14.13. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, June 28, 2024, and so far it has fallen -2.15%. 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 TEGNA Inc stock
TEGNA Inc finds support from accumulated volume at $13.54 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.305 between high and low, or 2.24%. For the last week, the stock has had daily average volatility of 2.62%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (TGNA) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect TEGNA Inc to open at $13.72, and during the day (based on 14 day Average True Range), to move between $13.26 and $14.02, which gives a possible trading interval of +/-$0.376 (+/-2.76%) up or down from last closing price. If TEGNA Inc takes out the full calculated possible swing range there will be an estimated 5.51% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $13.69 (0.37%) than the support at $13.54 (0.73%), 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 TEGNA Inc stock A Buy?
TEGNA Inc 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.
Current score: -5.498 Strong Sell Candidate Downgraded
Predicted Opening Price for TEGNA Inc of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $13.72 ( 0.574%) | $13.64 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TGNA
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 14.02 | 2.81% |
| R2 | 13.91 | 1.96% |
| R1 | 13.83 | 1.43% |
| Price | 13.64 | |
| S1 | 13.60 | -0.280% |
| S2 | 13.53 | -0.81% |
| S3 | 13.41 | -1.66% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 14.68 | 7.62% |
| R2 | 13.89 | 1.83% |
| R1 | 13.69 | 0.367% |
| Price | 13.64 | |
| S1 | 13.54 | -0.733% |
| S2 | 13.41 | -1.69% |
| S3 | 12.86 | -5.72% |
TGNA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 07, 2024 | Jun 07, 2024 | Jul 01, 2024 | $0.125 | 0.90% |
| 2 | Feb 21, 2024 | Mar 07, 2024 | Apr 01, 2024 | $0.114 | 0.775% |
| 3 | Oct 26, 2023 | Dec 07, 2023 | Jan 02, 2024 | $0.110 | 0.710% |
| 4 | Aug 03, 2023 | Sep 07, 2023 | Oct 02, 2023 | $0.114 | 0.787% |
| 5 | May 10, 2023 | Jun 08, 2023 | Jul 03, 2023 | $0.0950 | 0.585% |
FAQ
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