TPI Composites Inc Stock Forecast
Big movements in TPI Composites Inc stock price on Friday moving 19.83% between high and low
(Updated on Apr 26, 2024)
The TPI Composites Inc stock price gained 16.32% on the last trading day (Friday, 26th Apr 2024), rising from $2.39 to $2.78. During the last trading day the stock fluctuated 19.83% from a day low at $2.36 to a day high of $2.83. The price has been going up and down for this period, and there has been a 6.51% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 543 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $4.71 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -6.79% during the next 3 months and, with a 90% probability hold a price between $1.99 and $3.07 at the end of this 3-month period.
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TPIC Signals & Forecast
The TPI Composites Inc 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 $2.59 and $2.76. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 16.32%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. 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 TPI Composites Inc stock
TPI Composites Inc finds support from accumulated volume at $2.70 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 $0.468 between high and low, or 19.83%. For the last week, the stock has had daily average volatility of 11.36%.
Our recommended stop-loss: $2.67 (-4.04%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 1 day ago.)
Trading Expectations (TPIC) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect TPI Composites Inc to open at $2.66, and during the day (based on 14 day Average True Range), to move between $2.55 and $3.01, which gives a possible trading interval of +/-$0.231 (+/-8.30%) up or down from last closing price. If TPI Composites Inc takes out the full calculated possible swing range there will be an estimated 16.59% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $2.79 (0.36%) than the support at $2.70 (2.88%), 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
TPI Composites Inc will release earnings AMC on Thursday, May 02, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.680. We will update the financials statements for TPI Composites Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 7.16% in the first trading day after earnings release.
Is TPI Composites Inc stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Buy candidate.
Current score: 2.007 Buy Candidate Upgraded
Predicted Opening Price for TPI Composites Inc of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $2.66 ( 4.44%) | $2.78 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TPIC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.12 | 12.40 % | |
| R2 | 2.95 | 5.97 % | ||
| R1 | 2.84 | 1.99 % | ||
| Current price: | 2.78 | |||
| Support | S1 | 2.48 | -10.87 % | |
| S2 | 2.37 | -14.84 % | ||
| S3 | 2.19 | -21.28 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.99 | 7.55 % | |
| R2 | 2.91 | 4.68 % | ||
| R1 | 2.79 | 0.360 % | ||
| Current price | 2.78 | |||
| Support | S1 | 2.70 | -2.88% | |
| S2 | 2.68 | -3.60% | ||
| S3 | 2.66 | -4.32% |
FAQ
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