Tmc The Metals Company Inc. Stock Forecast
Volatile ride for Tmc The Metals Company Inc. stock price on Tuesday moving between $0.180 and $0.200
(Updated on Jun 25, 2024)
The Tmc The Metals Company Inc. stock price fell by -0.0500% on the last day (Tuesday, 25th Jun 2024) from $0.200 to $0.200. During the last trading day the stock fluctuated 10.86% from a day low at $0.180 to a day high of $0.200. The price has fallen in 6 of the last 10 days but is still up by 15.35% over the past 2 weeks. Volume has increased on the last day by 5 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 19 thousand shares were bought and sold for approximately $3.71 thousand.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Tmc The Metals Company Inc. stock with a 90% probability to be traded between $0.154 and $0.245 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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TMCWW Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Tuesday, June 04, 2024, and so far it has fallen -2.96%. 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). Tmc The Metals Company Inc. 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. The Tmc The Metals Company Inc. 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 $0.194 and $0.179. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for Tmc The Metals Company Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.185 and $0.180. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Tmc The Metals Company Inc. finds support just below today's level at $0.185. If this is broken, then the next support from accumulated volume will be at $0.180 and $0.175.
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 $0.0196 between high and low, or 10.86%. For the last week, the stock has had daily average volatility of 11.19%.
Our recommended stop-loss: $0.191 (-4.64%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 47 days ago.)
Trading Expectations (TMCWW) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Tmc The Metals Company Inc. to open at $0.193, and during the day (based on 14 day Average True Range), to move between $0.177 and $0.223, which gives a possible trading interval of +/-$0.0227 (+/-11.34%) up or down from last closing price. If Tmc The Metals Company Inc. takes out the full calculated possible swing range there will be an estimated 22.67% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.200 (0.05%) than the support at $0.185 (7.45%), 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 Tmc The Metals Company Inc. stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Tmc The Metals Company Inc. stock to perform well in the short-term period.
Current score: 1.355 Buy Candidate Unchanged
Predicted Opening Price for Tmc The Metals Company Inc. of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $0.193 ( 3.23%) | $0.200 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TMCWW
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.213 | 6.57% |
| R2 | 0.206 | 2.82% |
| R1 | 0.201 | 0.511% |
| Price | 0.200 | |
| S1 | 0.186 | -6.98% |
| S2 | 0.181 | -9.29% |
| S3 | 0.174 | -13.04% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.237 | 18.61% |
| R2 | 0.220 | 10.06% |
| R1 | 0.200 | 0.0500% |
| Price | 0.200 | |
| S1 | 0.185 | -7.45% |
| S2 | 0.180 | -9.95% |
| S3 | 0.175 | -12.46% |
FAQ
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