Trifast plc Stock Forecast
Trifast plc stock price down 4.19% on Friday
(Updated on May 03, 2024)
The Trifast plc stock price fell by -4.19% on the last day (Friday, 3rd May 2024) from £76.40 to £73.20. During the last trading day the stock fluctuated 4.10% from a day low at £73.20 to a day high of £76.20. The price has risen in 5 of the last 10 days but is still down by -2.14% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -9 thousand shares and in total, 34 thousand shares were bought and sold for approximately £2.49 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Trifast plc stock with a 90% probability to be traded between £71.01 and £81.83 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.
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TRI.L Signals & Forecast
There are few to no technical positive signals at the moment. The Trifast plc 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 £76.80 and £74.15. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, April 25, 2024, and so far it has fallen -9.63%. 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 fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Trifast plc stock
Trifast plc finds support from accumulated volume at £73.00 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 £3.00 between high and low, or 4.10%. For the last week, the stock has had daily average volatility of 4.85%.
Our recommended stop-loss: £68.76 (-6.06%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 6 days ago.)
Trading Expectations (TRI.L) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Trifast plc to open at £74.20, and during the day (based on 14 day Average True Range), to move between £70.00 and £76.40, which gives a possible trading interval of +/-£3.20 (+/-4.38%) up or down from last closing price. If Trifast plc takes out the full calculated possible swing range there will be an estimated 8.75% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £73.00 (0.27%) than the resistance at £74.40 (1.64%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Trifast plc stock A Buy?
Trifast plc holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.197 Hold/Accumulate Unchanged
Predicted Opening Price for Trifast plc of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| £74.20 ( 1.37%) | £73.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TRI.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 77.20 | 5.46 % | |
| R2 | 76.05 | 3.90 % | ||
| R1 | 75.35 | 2.93 % | ||
| Current price: | 73.20 | |||
| Support | S1 | 73.05 | -0.199 % | |
| S2 | 72.35 | -1.17 % | ||
| S3 | 71.20 | -2.73 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 76.00 | 3.83 % | |
| R2 | 75.00 | 2.46 % | ||
| R1 | 74.40 | 1.64 % | ||
| Current price | 73.20 | |||
| Support | S1 | 73.00 | -0.273% | |
| S2 | 72.00 | -1.64% | ||
| S3 | 70.00 | -4.37% |
TRI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 14, 2024 | Mar 14, 2024 | Mar 14, 2024 | £0 | 0% |
| 2 | Nov 22, 2022 | Mar 16, 2023 | Apr 13, 2023 | £0.750 | 1.07% |
| 3 | Jul 26, 2022 | Sep 15, 2022 | Oct 14, 2022 | £1.40 | 1.92% |
| 4 | Nov 23, 2021 | Mar 17, 2022 | Apr 14, 2022 | £0.700 | 0.633% |
| 5 | Jun 22, 2021 | Sep 16, 2021 | Oct 15, 2021 | £1.60 | 1.28% |
FAQ
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