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Torchlight Energy Resources Stock Forecast NASDAQ:TRCH

$2.14 (0.47%)

Volume: 5M

Closed: Jan 14, 2022

Hollow Logo Score: -3.496

Torchlight Energy Resources Stock Forecast

$2.14 (0.47%)

Volume: 5M

Closed: Jan 14, 2022

Score Hollow Logo -3.496
Which way will TRCH go? Request
Key Stats
Beta 1.69
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
RSImin/max Values: [ 25 - 75 ] RSI14 is 34 and the stock is currently not being overbought or oversold

Stronger technical forecast for Torchlight Energy Resources stock price after Friday trading.
(Updated on Jan 14, 2022)


Sell candidate since 2021-11-10 Loss -55.23% PDF

The Torchlight Energy Resources stock price gained 0.47% on the last trading day (Friday, 14th Jan 2022), rising from $2.13 to $2.14. During the day the stock fluctuated 6.37% from a day low at $2.04 to a day high of $2.17. The price has fallen in 7 of the last 10 days and is down by -13.01% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 million more shares were traded than the day before. In total, 5 million shares were bought and sold for approximately $11.62 million.

The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $2.07 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -52.75% during the next 3 months and, with a 90% probability hold a price between $0.98 and $1.36 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.

Signals & Forecast

There are mixed signals in the stock today. The Torchlight Energy Resources stock holds sell signals from both short and long-term moving averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $2.29 and $2.86. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Thursday, January 13, 2022, and so far it has risen 0.47%. 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

Torchlight Energy Resources finds support from accumulated volume at $2.13 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.13 between high and low, or 6.37%. For the last week, the stock has had a daily average volatility of 7.32%.

Our recommended stop-loss: We hold an negative evaluation for this stock. No stop-loss is set.

Is Torchlight Energy Resources stock A Buy?

Torchlight Energy Resources holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.

Current score: -3.496

Sell Candidate Upgraded

Insiders are positive buying more shares than they are selling in Torchlight Energy Resources

In the last 100 trades there were 34.15 million shares bought and 3.82 million shares sold. The last trade was done 194 days ago by Graves Michael James who sold 110.01 thousand shares. The large amount of stocks bought compared to stocks sold indicate that the insiders believe there is a potential good upside. In some cases larger purchases can be explained by due date for stock options.

Predicted Opening Price for Torchlight Energy Resources of Tuesday, January 18, 2022

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

Fair opening price January 18, 2022 Current price
$2.12 $2.14 (Overvalued)

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Volatility and Risk
Daily Average Volatility: 7.32 %
Overall Risk: Very High High Medium Low Very Low
Volatility
7.32 %
Daily Average Volatility
Overall Risk

Very High
High
Medium
Low
Very Low

Support & Resistance

Resistance: $2.28
Price: $2.14
Support: $2.13

TRCH Insider Trading Show all Trades

INSIDER POWER

47.062

Last 100 transactions
Buy: 34 151 720 | Sell: 3 816 827 (Shares)
Date Action Amount Person Type
Jul 09, 2021 Sell 110 013 Graves Michael James Common Stock
Jul 09, 2021 Sell 98 091 Graves Michael James Common Stock
Jul 09, 2021 Sell 89 089 Graves Michael James Common Stock
Jul 09, 2021 Sell 2 807 Graves Michael James Common Stock
Jun 22, 2021 Buy 200 000 Graves Michael James Common Stock
Show all Insider Trades
INSIDER POWER

47.062

Last 100 transactions
Buy: 34 151 720 | Sell: 3 816 827 (Shares)

Fibonacci Support & Resistance Levels

Level Price Change
Resistance 2.25 4.98 %
2.20 2.66 %
2.17 1.23 %
Current price: 2.14
Support 2.07 -3.41 %
2.04 -4.84 %
1.99 -7.17 %

Accumulated Volume Support & Resistance Levels

Level Price Chg %
Resistance 2.64 23.36 %
2.46 14.95 %
2.28 6.54 %
Current price 2.14
Support 2.13 -0.47%
0 .
0 .

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About Torchlight Energy Resources

Torchlight Energy Resources Torchlight Energy Resources, Inc. engages in the acquisition, exploration, exploitation, and/or development of oil and natural gas properties in the United States. As of December 31, 2015 it had interests in four oil and gas projects, including the Marcelina Creek Field Development in Wilson County, Texas; the Ring Energy Joint Venture in Southwest Kansas; the Hunton play in Central Oklahoma; and the Orogrande project in Hudspeth County, Texas. I... Read more

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