Trinity Exploration & Production Plc Stock Forecast

Trinity Exploration & Production Plc stock downgraded to Hold/Accumulate
(Updated on May 10, 2024)

TRIN.L Signals & Forecast

The Trinity Exploration & Production Plc 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 £53.57. On a fall, the stock will find some support from the long-term average at approximately £41.91. 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). Volume is rising along with the price. This is considered to be a good technical 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 Tuesday, May 07, 2024, and so far it has fallen -1.83%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for Trinity Exploration & Production Plc stock

Trinity Exploration & Production Plc finds support from accumulated volume at £53.00 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 very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved £0.800 between high and low, or 1.51%. For the last week, the stock has had daily average volatility of 2.40%.

The Trinity Exploration & Production Plc 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. 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: £51.32 (-4.08%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 77 and this increases the risk substantially. There is a sell signal from a pivot top found 3 days ago.)

Trading Expectations (TRIN.L) For The Upcoming Trading Day Of Monday 13th

For the upcoming trading day on Monday, 13th we expect Trinity Exploration & Production Plc to open at £53.50, and during the day (based on 14 day Average True Range), to move between £50.61 and £56.39, which gives a possible trading interval of +/-£2.89 (+/-5.41%) up or down from last closing price. If Trinity Exploration & Production Plc takes out the full calculated possible swing range there will be an estimated 10.82% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at £54.00 (0.93%) than the support at £53.00 (0.93%), 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 Trinity Exploration & Production Plc stock A Buy?

Trinity Exploration & Production Plc 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. 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 Hold/Accumulate candidate.

Current score: 0.000 Hold/Accumulate Downgraded

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Trinity Exploration & Production Plc of Monday, May 13, 2024

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