Topaz Energy Corp. Stock Forecast

Topaz Energy Corp. stock upgraded to Buy Candidate.
(Updated on May 17, 2024)

TPZEF Signals & Forecast

Mostly positive signals in the chart today. The Topaz Energy Corp. 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 $16.45 and $16.48. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, May 15, 2024, and so far it has risen 2.71%. 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). Topaz Energy Corp. 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. The very low volume increases the risk and reduces the other technical signals issued.

Sell

Special Signal Notification

Double Top Formation

Support, Risk & Stop-loss for Topaz Energy Corp. stock

On the downside, the stock finds support just below today's level from accumulated volume at $15.59 and $15.54. 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, Topaz Energy Corp. finds support just below today's level at $15.59. If this is broken, then the next support from accumulated volume will be at $15.54 and $14.99.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.0900 between high and low, or 0.542%. For the last week the stock has had daily average volatility of 0.122%.

Our recommended stop-loss: $15.86 (-5.01%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 2 days ago.)

Trading Expectations (TPZEF) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Topaz Energy Corp. to open at $16.67, and during the day (based on 14 day Average True Range), to move between $16.56 and $16.84, which gives a possible trading interval of +/-$0.140 (+/-0.84%) up or down from last closing price. If Topaz Energy Corp. takes out the full calculated possible swing range there will be an estimated 1.68% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $15.59, some $1.11 (6.65%) from the current price of $16.70, our system finds the risk reward attractive.

Is Topaz Energy Corp. 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 Topaz Energy Corp. 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: 4.759 Buy Candidate Upgraded

Predicted Opening Price for Topaz Energy Corp. of Monday, May 20, 2024

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