True North Commercial REIT 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
True North Commercial REIT stock upgraded to Strong Buy Candidate.
(Updated on May 06, 2024)
The True North Commercial REIT stock price gained 3.72% on the last trading day (Monday, 6th May 2024), rising from $9.41 to $9.76. During the last trading day the stock fluctuated 3.93% from a day low at $9.41 to a day high of $9.78. The price has risen in 7 of the last 10 days and is up by 7.73% 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, 21 thousand more shares were traded than the day before. In total, 34 thousand shares were bought and sold for approximately $333.26 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 6.33% during the next 3 months and, with a 90% probability hold a price between $8.99 and $10.81 at the end of this 3-month period.
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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.
Earnings coming up
True North Commercial REIT will release earnings BMO on Tuesday, May 07, 2024. We will update the financials statements for True North Commercial REIT, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.68% in the first trading day after earnings release.
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
Fair opening price May 7, 2024 | Current price |
---|---|
$9.65 ( 1.13%) | $9.76 |
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 | 10.02 | 2.66 % | |
R2 | 9.88 | 1.22 % | ||
R1 | 9.79 | 0.321 % | ||
Current price: | 9.76 | |||
Support | S1 | 9.51 | -2.58 % | |
S2 | 9.42 | -3.47 % | ||
S3 | 9.28 | -4.92 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 9.98 | 2.25 % | ||
Current price | 9.76 | |||
Support | S1 | 9.25 | -5.23% | |
S2 | 9.00 | -7.79% | ||
S3 | 8.32 | -14.75% |
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% |
FAQ
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