TRI Pointe Group Inc Stock Forecast
TRI Pointe Group Inc stock upgraded from Buy Candidate to Strong Buy Candidate after Wednesday trading session.
(Updated on May 01, 2024)
The TRI Pointe Group Inc stock price gained 1.63% on the last trading day (Wednesday, 1st May 2024), rising from $36.85 to $37.45. During the last trading day the stock fluctuated 3.89% from a day low at $36.91 to a day high of $38.34. The price has risen in 7 of the last 10 days and is up by 8.52% over the past 2 weeks. Volume fell on the last day by -35 thousand shares and in total, 941 thousand shares were bought and sold for approximately $35.24 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 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 6.13% during the next 3 months and, with a 90% probability hold a price between $37.02 and $41.94 at the end of this 3-month period.
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TPH Signals & Forecast
The TRI Pointe Group Inc 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 $37.09 and $36.30. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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, April 26, 2024, and so far it has fallen -1.14%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for TRI Pointe Group Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at $34.98 and $34.78. 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, TRI Pointe Group Inc finds support just below today's level at $34.98. If this is broken, then the next support from accumulated volume will be at $34.78 and $34.22.
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 $1.44 between high and low, or 3.89%. For the last week, the stock has had daily average volatility of 3.97%.
Our recommended stop-loss: $36.04 (-3.77%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 3 days ago.)
Trading Expectations (TPH) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect TRI Pointe Group Inc to open at $37.57, and during the day (based on 14 day Average True Range), to move between $36.33 and $38.57, which gives a possible trading interval of +/-$1.12 (+/-3.00%) up or down from last closing price. If TRI Pointe Group Inc takes out the full calculated possible swing range there will be an estimated 6.01% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $37.78 (0.88%) than the support at $34.98 (6.60%), 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 TRI Pointe Group Inc stock A Buy?
TRI Pointe Group Inc 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: 5.183 Strong Buy Candidate Upgraded
Predicted Opening Price for TRI Pointe Group Inc of Thursday, May 2, 2024
Fair opening price May 2, 2024 | Current price |
---|---|
$37.57 ( 0.307%) | $37.45 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TPH
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 39.00 | 4.14 % | |
R2 | 38.45 | 2.68 % | ||
R1 | 38.11 | 1.77 % | ||
Current price: | 37.45 | |||
Support | S1 | 37.02 | -1.16 % | |
S2 | 36.68 | -2.06 % | ||
S3 | 36.13 | -3.52 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 38.66 | 3.23 % | |
R2 | 37.93 | 1.28 % | ||
R1 | 37.78 | 0.88 % | ||
Current price | 37.45 | |||
Support | S1 | 34.98 | -6.60% | |
S2 | 34.78 | -7.13% | ||
S3 | 34.22 | -8.62% |
FAQ
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