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$77.10 (-0.55%)

Volume: 59k

Closed: Oct 15, 2021

Hollow Logo Score: 0.226

Tennant Company Stock Forecast

$77.10 (-0.55%)

Volume: 59k

Closed: Oct 15, 2021

Score Hollow Logo 0.226
Which way will TNC go? Request
Stop-loss: $74.68 (-3.14%)
Earnings Date: Oct 27, 2021
Key Stats
P/E Ratio 28.96
Beta 0.91
Trailing Dividend Rate 1.19% ($0.92)
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
RSImin/max Values: [ 25 - 75 ] RSI14 is 61 and the stock is currently not being overbought or oversold

Tennant Company stock downgraded from Buy Candidate to Hold/Accumulate after Friday trading session.
(Updated on Oct 15, 2021)


Buy or Hold candidate since 2021-10-01 Gain 1.81%

The Tennant Company stock price fell by -0.55% on the last day (Friday, 15th Oct 2021) from $77.53 to $77.10. During the day the stock fluctuated 2.63% from a day low at $77.10 to a day high of $79.13. The price has fallen in 6 of the last 10 days, but is still up by 1.81% over the past 2 weeks. Volume has increased on the last day by 31 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, 59 thousand shares were bought and sold for approximately $4.56 million.

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 $77.98 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Tennant Company stock with a 90% probability to be traded between $69.08 and $76.66 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. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.

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 $76.92 and $74.82. 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). 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, October 07, 2021, and so far it has fallen -1.29%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

Buy
Special Signal Notification

Double Bottom Formation

Double Bottom Formation A buy signal from a double bottom formation was found on Monday, September 20, 2021 and based on theory for this formation the price should go up by 4.52% to $80.59 within 21 trading days since signal was issued (Tuesday, October 19, 2021).

Support, Risk & Stop-loss

Tennant Company finds support from accumulated volume at $75.62 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 $2.03 between high and low, or 2.63%. For the last week, the stock has had a daily average volatility of 1.80%.

Our recommended stop-loss: $74.68 (-3.14%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 6 days ago.)

Is Tennant Company stock A Buy?

Tennant Company holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: 0.226

Predicted Opening Price for Tennant Company of Monday, October 18, 2021

The predicted opening price is based on yesterday's movements between high, low, and the closing price.

Fair opening price October 18, 2021 Current price
$77.78 $77.10 (Undervalued)
Hold/Accumulate Downgraded

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Volatility and Risk
Daily Average Volatility: 1.80 %
Overall Risk: Very High High Medium Low Very Low
Volatility
1.80 %
Daily Average Volatility
Overall Risk

Very High
High
Medium
Low
Very Low

Support & Resistance

Resistance: $77.35
Price: $77.10
Support: $75.62

TNC Insider Trading Show all Trades

INSIDER POWER

1.229

Last 100 transactions
Buy: 207 750 | Sell: 169 089 (Shares)
Date Action Amount Person Type
Aug 18, 2021 Buy 1 600 Zay Richard H. Common Stock
Aug 18, 2021 Sell 500 Zay Richard H. Common Stock
Aug 18, 2021 Sell 1 100 Zay Richard H. Common Stock
Aug 18, 2021 Sell 1 600 Zay Richard H. Stock Option (right to buy)
May 28, 2021 Buy 2 531 Eicher Carol S Common Stock
Show all Insider Trades
INSIDER POWER

1.229

Last 100 transactions
Buy: 207 750 | Sell: 169 089 (Shares)

Fibonacci Support & Resistance Levels

Level Price Change
Resistance 79.81 3.51 %
79.03 2.51 %
78.55 1.88 %
Current price: 77.10
Support 77.00 -0.13 %
76.52 -0.75 %
75.75 -1.76 %

Accumulated Volume Support & Resistance Levels

Level Price Chg %
Resistance 78.73 2.11 %
77.91 1.05 %
77.35 0.32 %
Current price 77.10
Support 75.62 -1.92%
73.49 -4.68%
71.91 -6.73%

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About Tennant Company

Tennant Company Tennant Company designs, manufactures, and markets cleaning solutions. It offers floor maintenance and outdoor cleaning equipment, detergent -free and other sustainable cleaning technologies, aftermarket parts and consumables, and specialty surface coatings. The company also provides equipment maintenance and repair services; and business solutions, such as financing, rental, and leasing programs, as well as machine-to-machine asset management so... Read more

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