Tejon Ranch Co Stock Forecast
Tejon Ranch Co stock upgraded to Hold/Accumulate.
(Updated on May 03, 2024)
The Tejon Ranch Co stock price fell by -1.07% on the last day (Friday, 3rd May 2024) from $16.86 to $16.68. During the last trading day the stock fluctuated 3.21% from a day low at $16.51 to a day high of $17.04. The price has been going up and down for this period, and there has been a 2.46% gain for the last 2 weeks. Volume has increased on the last day by 6 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 55 thousand shares were bought and sold for approximately $924.51 thousand.
The stockis at the upper part of a wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $17.05 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Tejon Ranch Co stock with a 90% probability to be traded between $14.62 and $16.80 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
TRC Signals & Forecast
The Tejon Ranch Co stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $16.87. On a fall, the stock will find some support from the long-term average at approximately $15.79. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 -2.28%. Further fall is indicated until a new bottom pivot has been found. Tejon Ranch Co gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
A sell signal from a double top formation was found on Friday, April 26, 2024 and based on theory for this formation the price should fall by -5.58% to $15.75 within 49 trading days since signal was issued (Monday, May 06, 2024).
Support, Risk & Stop-loss for Tejon Ranch Co stock
Tejon Ranch Co finds support from accumulated volume at $16.28 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 $0.530 between high and low, or 3.21%. For the last week, the stock has had daily average volatility of 1.95%.
The Tejon Ranch Co stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought and the RSI is still moving upwards. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely, and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: $16.16 (-3.15%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 77 and this increases the risk substantially. There is a sell signal from a pivot top found 5 days ago.)
Trading Expectations (TRC) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Tejon Ranch Co to open at $16.74, and during the day (based on 14 day Average True Range), to move between $16.30 and $17.06, which gives a possible trading interval of +/-$0.377 (+/-2.26%) up or down from last closing price. If Tejon Ranch Co takes out the full calculated possible swing range there will be an estimated 4.52% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $16.83 (0.90%) than the support at $16.28 (2.40%), 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 Tejon Ranch Co stock A Buy?
Tejon Ranch Co holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.192 Hold/Accumulate Upgraded
Predicted Opening Price for Tejon Ranch Co of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $16.74 ( 0.380%) | $16.68 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TRC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 17.27 | 3.56 % | |
| R2 | 17.07 | 2.34 % | ||
| R1 | 16.95 | 1.59 % | ||
| Current price: | 16.68 | |||
| Support | S1 | 16.54 | -0.83 % | |
| S2 | 16.42 | -1.58 % | ||
| S3 | 16.21 | -2.80 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 17.01 | 1.98 % | |
| R2 | 16.90 | 1.32 % | ||
| R1 | 16.83 | 0.90 % | ||
| Current price | 16.68 | |||
| Support | S1 | 16.28 | -2.40% | |
| S2 | 15.69 | -5.94% | ||
| S3 | 15.63 | -6.29% |
TRC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 14, 1999 | Nov 17, 1999 | Dec 10, 1999 | $0.0235 | 0.107% |
| 2 | Mar 16, 1999 | May 12, 1999 | Jun 18, 1999 | $0.0235 | 0.101% |
| 3 | Aug 26, 1998 | Nov 18, 1998 | Dec 04, 1998 | $0.0235 | 0.121% |
| 4 | Mar 26, 1998 | May 13, 1998 | Jun 19, 1998 | $0.0235 | 0.0990% |
| 5 | Aug 28, 1997 | Nov 19, 1997 | Dec 05, 1997 | $0.0235 | 0.0858% |
FAQ
Click here for our free guide on how to buy Tejon Ranch Co Stock.
