Tennant Company Stock Forecast
Tennant Company stock price ended at $121.50 on Wednesday, after gaining 0.638%.
(Updated on Mar 27, 2024)
The Tennant Company stock price gained 0.638% on the last trading day (Wednesday, 27th Mar 2024), rising from $120.73 to $121.50. During the last trading day the stock fluctuated 1.73% from a day low at $120.23 to a day high of $122.31. The price has risen in 6 of the last 10 days and is up by 7.77% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 63 thousand more shares were traded than the day before. In total, 149 thousand shares were bought and sold for approximately $18.15 million.
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 39.02% during the next 3 months and, with a 90% probability hold a price between $158.29 and $172.44 at the end of this 3-month period.
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TNC Signals & Forecast
The Tennant Company 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 $119.52 and $109.27. 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 is rising along with the price. This is considered to be a good technical signal. 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 Thursday, March 21, 2024, and so far it has fallen -0.214%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Tennant Company stock
On the downside, the stock finds support just below today's level from accumulated volume at $114.64 and $113.47. 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, Tennant Company finds support just below today's level at $114.64. If this is broken, then the next support from accumulated volume will be at $113.47 and $110.81.
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 $2.08 between high and low, or 1.73%. For the last week, the stock has had daily average volatility of 2.68%.
Our recommended stop-loss: $117.24 (-3.51%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 78 and this increases the risk substantially. There is a sell signal from a pivot top found 4 days ago.)
Trading Expectations (TNC) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Tennant Company to open at $121.35, and during the day (based on 14 day Average True Range), to move between $118.75 and $124.25, which gives a possible trading interval of +/-$2.75 (+/-2.26%) up or down from last closing price. If Tennant Company takes out the full calculated possible swing range there will be an estimated 4.52% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $121.73 (0.19%) than the support at $114.64 (5.65%), 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 Tennant Company stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Tennant Company stock to perform well in the short-term.
Current score: 3.494 Buy Candidate Unchanged
Predicted Opening Price for Tennant Company of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$121.35 ( 0.125%) | $121.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TNC
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 123.43 | 1.59 % | |
R2 | 122.64 | 0.93 % | ||
R1 | 122.14 | 0.530 % | ||
Current price: | 121.50 | |||
Support | S1 | 120.55 | -0.780 % | |
S2 | 120.06 | -1.19 % | ||
S3 | 119.26 | -1.84 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 121.76 | 0.214 % | ||
R1 | 121.73 | 0.189 % | ||
Current price | 121.50 | |||
Support | S1 | 114.64 | -5.65% | |
S2 | 113.47 | -6.61% | ||
S3 | 110.81 | -8.80% |
TNC Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 28, 2024 | Feb 28, 2024 | Mar 15, 2024 | $0.280 | 0.245% |
2 | Oct 30, 2023 | Nov 29, 2023 | Dec 15, 2023 | $0.280 | 0.309% |
3 | Aug 02, 2023 | Aug 30, 2023 | Sep 15, 2023 | $0.265 | 0.345% |
4 | Apr 25, 2023 | May 30, 2023 | Jun 15, 2023 | $0.265 | 0.326% |
5 | Feb 14, 2023 | Mar 02, 2023 | Mar 15, 2023 | $0.265 | 0.410% |
FAQ
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