Tompkins Financial Corp Stock Forecast
Stronger technical forecast for Tompkins Financial Corp stock price after Tuesday trading.
(Updated on Jul 02, 2024)
The Tompkins Financial Corp stock price gained 2.65% on the last trading day (Tuesday, 2nd Jul 2024), rising from $47.54 to $48.80. During the last trading day the stock fluctuated 2.43% from a day low at $47.71 to a day high of $48.87. The price has risen in 7 of the last 10 days and is up by 8.64% over the past 2 weeks. Volume fell on the last day by -46 thousand shares and in total, 40 thousand shares were bought and sold for approximately $1.96 million. 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 stockis at the upper part of a wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $48.97 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Tompkins Financial Corp stock with a 90% probability to be traded between $43.29 and $48.84 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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TMP Signals & Forecast
The Tompkins Financial Corp 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 $46.85 and $46.14. 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). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. 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 Friday, June 28, 2024, and so far it has fallen -0.204%. Further fall is indicated until a new bottom pivot has been found.
A sell signal from a double top formation was found on Friday, June 28, 2024 and based on theory for this formation the price should fall by -6.94% to $45.42 within 28 trading days since signal was issued (Thursday, August 08, 2024).
Support, Risk & Stop-loss for Tompkins Financial Corp stock
On the downside, the stock finds support just below today's level from accumulated volume at $45.36 and $45.03. 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, Tompkins Financial Corp finds support just below today's level at $45.36. If this is broken, then the next support from accumulated volume will be at $45.03 and $43.84.
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 $1.16 between high and low, or 2.43%. For the last week, the stock has had daily average volatility of 3.32%.
Our recommended stop-loss: $47.23 (-3.21%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 7 days ago.)
Trading Expectations (TMP) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Tompkins Financial Corp to open at $48.46, and during the day (based on 14 day Average True Range), to move between $47.44 and $50.16, which gives a possible trading interval of +/-$1.36 (+/-2.79%) up or down from last closing price. If Tompkins Financial Corp takes out the full calculated possible swing range there will be an estimated 5.58% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $48.90 (0.20%) than the support at $45.36 (7.05%), 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 Tompkins Financial Corp 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 Tompkins Financial Corp stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.083 Buy Candidate Upgraded
Predicted Opening Price for Tompkins Financial Corp of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $48.46 ( 0.697%) | $48.80 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TMP
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 49.62 | 1.68% |
| R2 | 49.18 | 0.772% |
| R1 | 48.90 | 0.211% |
| Price | 48.80 | |
| S1 | 48.02 | -1.60% |
| S2 | 47.74 | -2.17% |
| S3 | 47.30 | -3.07% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 49.03 | 0.471% |
| R1 | 48.90 | 0.205% |
| Price | 48.80 | |
| S1 | 45.36 | -7.05% |
| S2 | 45.03 | -7.73% |
| S3 | 43.84 | -10.16% |
TMP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 26, 2024 | May 09, 2024 | May 17, 2024 | $0.610 | 1.24% |
| 2 | Jan 26, 2024 | Feb 08, 2024 | Feb 16, 2024 | $0.600 | 1.17% |
| 3 | Oct 27, 2023 | Nov 06, 2023 | Nov 15, 2023 | $0.600 | 1.07% |
| 4 | Jul 21, 2023 | Jul 31, 2023 | Aug 12, 2023 | $0.600 | 1.05% |
| 5 | Apr 28, 2023 | May 08, 2023 | May 16, 2023 | $0.600 | 1.15% |
FAQ
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