Travel + Leisure Co. stock upgraded from Sell Candidate to Buy Candidate after Friday trading session.
(Updated on Dec 08, 2023)
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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 $39.22 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Travel + Leisure Co. stock with a 90% probability to be traded between $32.65 and $39.32 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.
TNL Signals & Forecast
The Travel + Leisure Co. 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 $37.30 and $35.68. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, October 27, 2023, and so far it has risen 19.34%. Further rise is indicated until a new top pivot has been found. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
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Support, Risk & Stop-loss for Travel + Leisure Co. stock
On the downside, the stock finds support just below today's level from accumulated volume at $34.77 and $34.48. 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, Travel + Leisure Co. finds support just below today's level at $34.77. If this is broken, then the next support from accumulated volume will be at $34.48 and $33.63.
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 $0.94 between high and low, or 2.48%. For the last week, the stock has had daily average volatility of 3.00%.
Our recommended stop-loss: $37.51 (-3.34%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 29 days ago.)
Trading Expectations (TNL) For The Upcoming Trading Day Of Monday 11th
For the upcoming trading day on Monday, 11th we expect Travel + Leisure Co. to open at $38.56, and during the day (based on 14 day Average True Range), to move between $37.69 and $39.93, which gives a possible trading interval of +/-$1.12 (+/-2.87%) up or down from last closing price. If Travel + Leisure Co. takes out the full calculated possible swing range there will be an estimated 5.75% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $39.12 (0.80%) than the support at $34.77 (10.41%), 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 Travel + Leisure Co. 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 Travel + Leisure Co. stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 2.046 Open Broker AccountBuy Candidate Upgraded
Predicted Opening Price for Travel + Leisure Co. of Monday, December 11, 2023
The predicted opening price is based on yesterday's movements between high, low, and closing price.
|Fair opening price December 11, 2023||Current price|
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Fibonacci Support & Resistance Levels
Accumulated Volume Support & Resistance Levels
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