Tmc The Metals Company Inc. Stock Forecast
Big movements in Tmc The Metals Company Inc. stock price on Friday moving 15.98% between high and low
(Updated on Jun 28, 2024)
The Tmc The Metals Company Inc. stock price fell by -10.82% on the last day (Friday, 28th Jun 2024) from $0.178 to $0.158. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 15.98% from a day low at $0.155 to a day high of $0.180. The price has fallen in 7 of the last 10 days and is down by -12.06% for this period. Volume has increased on the last day by 18 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, 31 thousand shares were bought and sold for approximately $4.98 thousand.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.147 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -3.46% during the next 3 months and, with a 90% probability hold a price between $0.142 and $0.223 at the end of this 3-month period.
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TMCWW Signals & Forecast
There are few to no technical positive signals at the moment. The Tmc The Metals Company Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $0.186 and $0.181. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, June 04, 2024, and so far it has fallen -23.16%. 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.
Support, Risk & Stop-loss for Tmc The Metals Company Inc. stock
Tmc The Metals Company Inc. finds support from accumulated volume at $0.158 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 $0.0248 between high and low, or 15.98%. For the last week, the stock has had daily average volatility of 13.81%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (TMCWW) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Tmc The Metals Company Inc. to open at $0.165, and during the day (based on 14 day Average True Range), to move between $0.134 and $0.183, which gives a possible trading interval of +/-$0.0246 (+/-15.53%) 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 31.05% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.158 (0.38%) than the resistance at $0.175 (10.55%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Tmc The Metals Company Inc. stock A Buy?
Tmc The Metals Company Inc. holds several negative signals and is within a very 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: -2.444 Sell Candidate Unchanged
Predicted Opening Price for Tmc The Metals Company Inc. of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $0.165 ( 3.92%) | $0.158 |
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 | 0.189 | 19.58% |
| R2 | 0.180 | 13.60% |
| R1 | 0.174 | 9.90% |
| Price | 0.158 | |
| S1 | 0.155 | -2.07% |
| S2 | 0.149 | -5.77% |
| S3 | 0.140 | -11.75% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.185 | 16.87% |
| R2 | 0.180 | 13.71% |
| R1 | 0.175 | 10.55% |
| Price | 0.158 | |
| S1 | 0.158 | -0.379% |
| S2 | 0.150 | -5.18% |
| S3 | 0.150 | -5.24% |
FAQ
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