True North Commercial REIT Stock Forecast

True North Commercial REIT stock upgraded to Strong Buy Candidate.
(Updated on May 06, 2024)

TNT-UN.TO Signals & Forecast

Mostly positive signals in the chart today. The True North Commercial REIT 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 $9.48 and $9.17. 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 17.31%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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.

Support, Risk & Stop-loss for True North Commercial REIT stock

On the downside, the stock finds support just below today's level from accumulated volume at $9.25 and $9.00. 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, True North Commercial REIT finds support just below today's level at $9.25. If this is broken, then the next support from accumulated volume will be at $9.00 and $8.32.

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 $0.370 between high and low, or 3.93%. For the last week, the stock has had daily average volatility of 2.42%.

Our recommended stop-loss: $9.43 (-3.34%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 83 and this increases the risk substantially. There is a buy signal from a pivot bottom found 14 days ago.)

Trading Expectations (TNT-UN.TO) For The Upcoming Trading Day Of Tuesday 7th

For the upcoming trading day on Tuesday, 7th we expect True North Commercial REIT to open at $9.65, and during the day (based on 14 day Average True Range), to move between $9.44 and $10.08, which gives a possible trading interval of +/-$0.317 (+/-3.25%) 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 6.49% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $9.98 (2.25%) than the support at $9.25 (5.23%), 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 True North Commercial REIT stock A Buy?

True North Commercial REIT holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.

Current score: 7.849 Strong Buy Candidate Upgraded

Predicted Opening Price for True North Commercial REIT of Tuesday, May 7, 2024

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