Technology One Limited 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
Green day on Tuesday for Technology One Limited
(Updated on Jun 25, 2024)
The Technology One Limited stock price gained 0.164% on the last trading day (Tuesday, 25th Jun 2024), rising from $18.26 to $18.29. During the last trading day the stock fluctuated 0.82% from a day low at $18.26 to a day high of $18.41. The price has been going up and down for this period, and there has been a 1.61% gain for the last 2 weeks. Volume fell on the last day by -103 thousand shares and in total, 586 thousand shares were bought and sold for approximately $10.71 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 stock lies in the upper part of a strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $18.54 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 15.20% during the next 3 months and, with a 90% probability hold a price between $19.46 and $21.36 at the end of this 3-month period.
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TNE.AX Signals & Forecast
The Technology One Limited stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $18.31. On a fall, the stock will find some support from the long-term average at approximately $17.45. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 21, 2024, and so far it has fallen -0.92%. 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).
Support, Risk & Stop-loss for Technology One Limited stock
Technology One Limited finds support from accumulated volume at $17.86 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.150 between high and low, or 0.82%. For the last week the stock has had daily average volatility of 1.13%.
Our recommended stop-loss: $17.63 (-3.59%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 41 days ago.)
Trading Expectations (TNE.AX) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Technology One Limited to open at $18.32, and during the day (based on 14 day Average True Range), to move between $17.99 and $18.59, which gives a possible trading interval of +/-$0.299 (+/-1.63%) up or down from last closing price. If Technology One Limited takes out the full calculated possible swing range there will be an estimated 3.27% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $18.31 (0.11%) than the support at $17.86 (2.35%), 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?
Technology One Limited holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.549 Hold/Accumulate Unchanged
Predicted Opening Price for Technology One Limited of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $18.32 ( 0.164%) | $18.29 |
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 | |
|---|---|---|
| R3 | 18.47 | 0.98% |
| R2 | 18.41 | 0.671% |
| R1 | 18.38 | 0.477% |
| Price | 18.29 | |
| S1 | 18.26 | -0.149% |
| S2 | 18.23 | -0.343% |
| S3 | 18.17 | -0.656% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 18.46 | 0.93% |
| R2 | 18.33 | 0.219% |
| R1 | 18.31 | 0.109% |
| Price | 18.29 | |
| S1 | 17.86 | -2.35% |
| S2 | 17.78 | -2.79% |
| S3 | 16.75 | -8.42% |
TNE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 30, 2024 | May 30, 2024 | Jun 14, 2024 | $0.0508 | 0.280% |
| 2 | Nov 30, 2023 | Nov 30, 2023 | Dec 15, 2023 | $0.0300 | 0.198% |
| 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% |
FAQ
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