True North Commercial REIT Stock Forecast
True North Commercial REIT stock upgraded to Buy Candidate.
(Updated on Apr 25, 2024)
The True North Commercial REIT stock price gained 0.630% on the last trading day (Thursday, 25th Apr 2024), rising from $9.52 to $9.58. It has now gained 7 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 5.21% from a day low at $9.22 to a day high of $9.70. The price has risen in 7 of the last 10 days and is up by 3.57% 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, 288 more shares were traded than the day before. In total, 24 thousand shares were bought and sold for approximately $225.32 thousand.
The stock lies in the middle of a wide and weak 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 4.38% during the next 3 months and, with a 90% probability hold a price between $8.73 and $10.50 at the end of this 3-month period.
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TNT-UN.TO Signals & Forecast
The True North Commercial REIT stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $9.07 and $9.10. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 15.14%. Further rise is indicated until a new top pivot has been found. True North Commercial REIT has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. 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).
Support, Risk & Stop-loss for True North Commercial REIT stock
True North Commercial REIT finds support from accumulated volume at $9.25 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 $0.480 between high and low, or 5.21%. For the last week, the stock has had daily average volatility of 3.91%.
Since the True North Commercial REIT has been rising for 7 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Our recommended stop-loss: $9.21 (-3.86%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 7 days ago.)
Trading Expectations (TNT-UN.TO) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect True North Commercial REIT to open at $9.50, and during the day (based on 14 day Average True Range), to move between $9.22 and $9.94, which gives a possible trading interval of +/-$0.359 (+/-3.75%) up or down from last closing price. If True North Commercial REIT takes out the full calculated possible swing range there will be an estimated 7.49% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $9.25 (3.44%) than the resistance at $9.98 (4.18%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is True North Commercial REIT 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 True North Commercial REIT stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.028 Buy Candidate Upgraded
Predicted Opening Price for True North Commercial REIT of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $9.50 ( 0.84%) | $9.58 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TNT-UN.TO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.98 | 4.18 % | |
| R2 | 9.80 | 2.26 % | ||
| R1 | 9.68 | 1.08 % | ||
| Current price: | 9.58 | |||
| Support | S1 | 9.32 | -2.75 % | |
| S2 | 9.20 | -3.93 % | ||
| S3 | 9.02 | -5.85 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 9.98 | 4.18 % | ||
| Current price | 9.58 | |||
| Support | S1 | 9.25 | -3.44% | |
| S2 | 9.00 | -6.05% | ||
| S3 | 8.32 | -13.15% |
TNT-UN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Oct 30, 2023 | Oct 30, 2023 | Nov 15, 2023 | $0.0248 | 0.325% |
| 2 | Sep 28, 2023 | Sep 28, 2023 | Oct 16, 2023 | $0.0250 | 0.205% |
| 3 | Aug 30, 2023 | Aug 30, 2023 | Sep 15, 2023 | $0.0250 | 0.176% |
| 4 | Jul 28, 2023 | Jul 28, 2023 | Aug 15, 2023 | $0.0250 | 0.177% |
| 5 | Jun 29, 2023 | Jun 29, 2023 | Jul 17, 2023 | $0.0250 | 0.172% |
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