Trucknet Enterprise Ltd Stock Forecast
Trucknet Enterprise Ltd stock upgraded from Hold/Accumulate to Buy Candidate after Tuesday trading session.
(Updated on Jun 25, 2024)
The Trucknet Enterprise Ltd stock price gained 2.47% on the last trading day (Tuesday, 25th Jun 2024), rising from ₪105.10 to ₪107.70. During the last trading day the stock fluctuated 3.81% from a day low at ₪105.00 to a day high of ₪109.00. The price has been going up and down for this period, and there has been a 8.13% 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, 2 thousand more shares were traded than the day before. In total, 34 thousand shares were bought and sold for approximately ₪3.67 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 -22.77% during the next 3 months and, with a 90% probability hold a price between ₪48.71 and ₪102.65 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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TRAN.TA Signals & Forecast
Mostly positive signals in the chart today. The Trucknet Enterprise Ltd 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 ₪103.87 and ₪102.67. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Sunday, April 21, 2024, and so far it has risen 19.53%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Trucknet Enterprise Ltd stock
Trucknet Enterprise Ltd finds support from accumulated volume at ₪105.40 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 ₪4.00 between high and low, or 3.81%. For the last week, the stock has had daily average volatility of 4.95%.
Our recommended stop-loss: ₪103.50 (-3.90%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 58 days ago.)
Trading Expectations (TRAN.TA) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Trucknet Enterprise Ltd to open at ₪107.23, and during the day (based on 14 day Average True Range), to move between ₪101.66 and ₪113.74, which gives a possible trading interval of +/-₪6.04 (+/-5.60%) up or down from last closing price. If Trucknet Enterprise Ltd takes out the full calculated possible swing range there will be an estimated 11.21% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₪105.40 (2.14%) than the resistance at ₪115.00 (6.78%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Trucknet Enterprise Ltd 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 Hold/Accumulate to a Buy candidate.
Current score: 1.721 Buy Candidate Upgraded
Predicted Opening Price for Trucknet Enterprise Ltd of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| ₪107.23 ( 0.433%) | ₪107.70 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TRAN.TA
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 111.23 | 3.28% |
| R2 | 109.71 | 1.86% |
| R1 | 108.76 | 0.99% |
| Price | 107.70 | |
| S1 | 105.71 | -1.85% |
| S2 | 104.76 | -2.73% |
| S3 | 103.23 | -4.15% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 132.00 | 22.56% |
| R2 | 131.10 | 21.73% |
| R1 | 115.00 | 6.78% |
| Price | 107.70 | |
| S1 | 105.40 | -2.14% |
| S2 | 105.30 | -2.23% |
| S3 | 91.90 | -14.67% |
FAQ
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