Thomson Reuters Corp Stock Forecast

Red day on Wednesday for Thomson Reuters Corp
(Updated on May 29, 2024)

TRI Signals & Forecast

The Thomson Reuters Corp 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 $172.44. On a fall, the stock will find some support from the long-term average at approximately $161.71. 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. 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, May 24, 2024, and so far it has fallen -3.83%. 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. The stock had a Golden Star Signal on Thursday, September 07, 2023 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Thomson Reuters Corp stock

Thomson Reuters Corp finds support from accumulated volume at $164.74 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 $3.17 between high and low, or 1.88%. For the last week, the stock has had daily average volatility of 1.70%.

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

Trading Expectations (TRI) For The Upcoming Trading Day Of Thursday 30th

For the upcoming trading day on Thursday, 30th we expect Thomson Reuters Corp to open at $169.74, and during the day (based on 14 day Average True Range), to move between $166.08 and $172.02, which gives a possible trading interval of +/-$2.97 (+/-1.75%) up or down from last closing price. If Thomson Reuters Corp takes out the full calculated possible swing range there will be an estimated 3.51% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $171.02 (1.17%) than the support at $164.74 (2.55%), 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 Thomson Reuters Corp stock A Buy?

Thomson Reuters Corp 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.

Current score: -1.142 Sell Candidate Unchanged

Predicted Opening Price for Thomson Reuters Corp of Thursday, May 30, 2024

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