Technology One Limited Stock Forecast
Technology One Limited stock upgraded from Hold/Accumulate to Buy Candidate after Friday trading session.
(Updated on May 24, 2024)
The Technology One Limited stock price fell by -0.0562% on the last day (Friday, 24th May 2024) from $17.79 to $17.78. During the last trading day the stock fluctuated 1.77% from a day low at $17.51 to a day high of $17.82. The price has risen in 6 of the last 10 days and is up by 8.61% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -611 thousand shares and in total, 605 thousand shares were bought and sold for approximately $10.76 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 $17.85 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Technology One Limited stock with a 90% probability to be traded between $15.33 and $17.56 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.
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TNE.AX Signals & Forecast
The Technology One Limited 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 $16.91 and $16.29. 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 Wednesday, May 22, 2024, and so far it has fallen -0.448%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Technology One Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at $16.88 and $16.75. 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, Technology One Limited finds support just below today's level at $16.88. If this is broken, then the next support from accumulated volume will be at $16.75 and $16.50.
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 $0.310 between high and low, or 1.77%. For the last week, the stock has had daily average volatility of 4.33%.
Our recommended stop-loss: $17.15 (-3.52%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 20 days ago.)
Trading Expectations (TNE.AX) For The Upcoming Trading Day Of Monday 27th
For the upcoming trading day on Monday, 27th we expect Technology One Limited to open at $17.70, and during the day (based on 14 day Average True Range), to move between $17.31 and $18.25, which gives a possible trading interval of +/-$0.466 (+/-2.62%) up or down from last closing price. If Technology One Limited takes out the full calculated possible swing range there will be an estimated 5.24% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $17.79 (0.06%) than the support at $16.88 (5.06%), 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 Technology One Limited 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 Technology One Limited 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: 1.614 Buy Candidate Upgraded
Predicted Opening Price for Technology One Limited of Monday, May 27, 2024
| Fair opening price May 27, 2024 | Current price |
|---|---|
| $17.70 ( 0.431%) | $17.78 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TNE.AX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 18.01 | 1.31 % | |
| R2 | 17.89 | 0.646 % | ||
| R1 | 17.82 | 0.235 % | ||
| Current price: | 17.78 | |||
| Support | S1 | 17.58 | -1.10 % | |
| S2 | 17.51 | -1.51 % | ||
| S3 | 17.39 | -2.17 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 17.86 | 0.450 % | ||
| R1 | 17.79 | 0.0562 % | ||
| Current price | 17.78 | |||
| Support | S1 | 16.88 | -5.06% | |
| S2 | 16.75 | -5.79% | ||
| S3 | 16.50 | -7.20% |
TNE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 30, 2024 | May 30, 2024 | Jun 14, 2024 | $0.0508 | 0.286% |
| 2 | Nov 30, 2023 | Nov 30, 2023 | Nov 30, 2023 | $0 | 0% |
| 3 | Jun 01, 2023 | Jun 01, 2023 | Jun 01, 2023 | $0.0462 | 0.281% |
| 4 | Dec 01, 2022 | Dec 01, 2022 | Dec 01, 2022 | $0.0200 | 0.145% |
| 5 | Jun 02, 2022 | Jun 02, 2022 | Jun 02, 2022 | $0.0420 | 0.394% |
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