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Torchlight Energy Resources Stock Forecast NASDAQ:TRCH

$4.99 (-3.48%)

Volume: 6M

Closed: Oct 15, 2021

Hollow Logo Score: -3.410

Torchlight Energy Resources Stock Forecast

$4.99 (-3.48%)

Volume: 6M

Closed: Oct 15, 2021

Score Hollow Logo -3.410
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 30 and the stock is currently not being overbought or oversold

Torchlight Energy Resources stock downgraded from Buy Candidate to Sell Candidate after Friday trading session.
(Updated on Oct 15, 2021)


Sell candidate since 2021-10-15

The Torchlight Energy Resources stock price fell by -3.48% on the last day (Friday, 15th Oct 2021) from $5.17 to $4.99. and has now fallen 3 days in a row. During the day the stock fluctuated 5.43% from a day low at $4.97 to a day high of $5.24. The price has fallen in 5 of the last 10 days and is down by -10.73% for this period. Volume has increased on the last day by 1 million 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, 6 million shares were bought and sold for approximately $27.89 million.

The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $4.59 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 70.86% during the next 3 months and, with a 90% probability hold a price between $7.85 and $11.59 at the end of this 3-month period.

Signals & Forecast

There are few to no technical positive signals at the moment. The Torchlight Energy Resources stock holds sell signals from both short and long-term moving averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $5.23 and $5.21. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, September 28, 2021, and so far it has fallen -19.65%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

Support, Risk & Stop-loss

On the downside, the stock finds support just below today's level from accumulated volume at $4.42 and $4.13. There is 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, Torchlight Energy Resources finds support just below today's level at $4.42. If this is broken, then the next support from accumulated volume will be at $4.13 and $3.83.

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 $0.27 between high and low, or 5.43%. For the last week, the stock has had a daily average volatility of 6.03%.

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

Is Torchlight Energy Resources stock A Buy?

The Torchlight Energy Resources stock holds several negative signals and despite the positive trend, we believe Torchlight Energy Resources will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.

Current score: -3.410

Predicted Opening Price for Torchlight Energy Resources of Monday, October 18, 2021

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

Fair opening price October 18, 2021 Current price
$5.07 $4.99 (Undervalued)
Sell Candidate Downgraded

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Volatility and Risk
Daily Average Volatility: 6.03 %
Overall Risk: Very High High Medium Low Very Low
Volatility
6.03 %
Daily Average Volatility
Overall Risk

Very High
High
Medium
Low
Very Low

Support & Resistance

Resistance: $5.37
Price: $4.99
Support: $4.42

TRCH Insider Trading Show all Trades

INSIDER POWER

10.822

Last 100 transactions
Buy: 34 472 970 | Sell: 3 185 577 (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 Zyngier Alexandre Common Stock
Show all Insider Trades
INSIDER POWER

10.822

Last 100 transactions
Buy: 34 472 970 | Sell: 3 185 577 (Shares)

Fibonacci Support & Resistance Levels

Level Price Change
Resistance 5.34 6.95 %
5.23 4.88 %
5.17 3.60 %
Current price: 4.99
Support 4.96 -0.53 %
4.90 -1.81 %
4.80 -3.87 %

Accumulated Volume Support & Resistance Levels

Level Price Chg %
Resistance 6.08 21.84 %
5.50 10.22 %
5.37 7.62 %
Current price 4.99
Support 4.42 -11.42%
4.13 -17.23%
3.83 -23.25%

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About 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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