Grupo TMM, S.A.B. Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Grupo TMM, S.A.B. stock upgraded to Buy Candidate.
(Updated on May 17, 2024)
The Grupo TMM, S.A.B. stock price gained 0.389% on the last trading day (Friday, 17th May 2024), rising from $2.57 to $2.58. During the last trading day the stock fluctuated 0% from a day low at $2.58 to a day high of $2.58. The price has fallen in 4 of the last 10 days but is still up by 0.39% over the past 2 weeks. Volume fell on the last day by -8 thousand shares and in total, 8 thousand shares were bought and sold for approximately $19.94 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 10.42% during the next 3 months and, with a 90% probability hold a price between $2.67 and $2.92 at the end of this 3-month period.
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TMMA.MX Signals & Forecast
A sell signal was issued from a pivot top point on Tuesday, May 14, 2024, and so far it has fallen -0.386%. 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). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued. Some positive signals were issued as well, and these may have some influence on the near short-term development. The Grupo TMM, S.A.B. 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 $2.52 and $2.56. A breakdown below any of these levels will issue sell signals.
A sell signal from a double top formation was found on Tuesday, May 14, 2024 and based on theory for this formation the price should fall by -6.98% to $2.40 within 8 trading days since signal was issued (Monday, May 20, 2024).
Support, Risk & Stop-loss for Grupo TMM, S.A.B. stock
On the downside, the stock finds support just below today's level from accumulated volume at $2.45 and $2.39. 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, Grupo TMM, S.A.B. finds support just below today's level at $2.45. If this is broken, then the next support from accumulated volume will be at $2.39 and $2.35.
In general the stock tends to have controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the stock. During the last day, the stock moved $0 between high and low, or 0%. For the last week the stock has had daily average volatility of 2.62%.
Our recommended stop-loss: $2.49 (-3.64%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 5 days ago.)
Trading Expectations (TMMA.MX) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Grupo TMM, S.A.B. to open at $2.58, and during the day (based on 14 day Average True Range), to move between $2.53 and $2.63, which gives a possible trading interval of +/-$0.0489 (+/-1.89%) up or down from last closing price. If Grupo TMM, S.A.B. takes out the full calculated possible swing range there will be an estimated 3.79% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $2.59 (0.39%) than the support at $2.45 (5.04%), 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 Grupo TMM, S.A.B. stock A Buy?
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.987 Buy Candidate Upgraded
Predicted Opening Price for Grupo TMM, S.A.B. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $2.58 ( 0%) | $2.58 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TMMA.MX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.58 | . | |
| R2 | 2.58 | . | ||
| R1 | 2.58 | . | ||
| Current price: | 2.58 | |||
| Support | S1 | 2.58 | . | |
| S2 | 2.58 | . | ||
| S3 | 2.58 | . |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 2.59 | 0.388 % | ||
| Current price | 2.58 | |||
| Support | S1 | 2.45 | -5.04% | |
| S2 | 2.39 | -7.36% | ||
| S3 | 2.35 | -8.91% |
FAQ
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