TORM PLC Class A Stock Forecast
Green day on Tuesday for TORM PLC Class A
(Updated on Jul 02, 2024)
The TORM PLC Class A stock price gained 1.96% on the last trading day (Tuesday, 2nd Jul 2024), rising from $38.26 to $39.01. During the last trading day the stock fluctuated 1.61% from a day low at $38.44 to a day high of $39.06. The price has risen in 8 of the last 10 days and is up by 12.81% over the past 2 weeks. Volume fell on the last day by -88 thousand shares and in total, 461 thousand shares were bought and sold for approximately $17.97 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the upper part of a wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $39.72 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 10.35% during the next 3 months and, with a 90% probability hold a price between $38.21 and $43.83 at the end of this 3-month period.
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TRMD Signals & Forecast
Mostly positive signals in the chart today. The TORM PLC Class A stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $38.32 and $37.08. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has risen 14.87%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. The stock had a Golden Star Signal on Monday, September 18, 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.
Golden Star 12 Months
The stock had a Golden Star Signal on Monday, September 18, 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 TORM PLC Class A stock
TORM PLC Class A finds support from accumulated volume at $38.20 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 $0.620 between high and low, or 1.61%. For the last week, the stock has had daily average volatility of 1.93%.
Our recommended stop-loss: $37.28 (-4.45%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 22 days ago.)
Trading Expectations (TRMD) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect TORM PLC Class A to open at $38.84, and during the day (based on 14 day Average True Range), to move between $38.11 and $39.91, which gives a possible trading interval of +/-$0.90 (+/-2.30%) up or down from last closing price. If TORM PLC Class A takes out the full calculated possible swing range there will be an estimated 4.59% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $38.20, some $0.81 (2.08%) from the current price of $39.01, our system finds the risk reward attractive.
Is TORM PLC Class A stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for TORM PLC Class A stock to perform well in the short-term.
Current score: 3.930 Buy Candidate Unchanged
Predicted Opening Price for TORM PLC Class A of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $38.84 ( 0.444%) | $39.01 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TRMD
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 39.46 | 1.15% |
| R2 | 39.22 | 0.538% |
| R1 | 39.07 | 0.163% |
| Price | 39.01 | |
| S1 | 38.60 | -1.05% |
| S2 | 38.45 | -1.43% |
| S3 | 38.22 | -2.03% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 39.01 | |
| S1 | 38.20 | -2.08% |
| S2 | 37.05 | -5.02% |
| S3 | 35.80 | -8.23% |
TRMD Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 21, 2024 | May 21, 2024 | Jun 04, 2024 | $1.50 | 4.18% |
| 2 | Mar 07, 2024 | Apr 15, 2024 | Apr 24, 2024 | $0.99 | 2.97% |
| 3 | Nov 09, 2023 | Nov 21, 2023 | Dec 05, 2023 | $1.46 | 5.32% |
| 4 | Aug 28, 2023 | Aug 28, 2023 | Sep 12, 2023 | $1.50 | 5.95% |
| 5 | May 11, 2023 | May 22, 2023 | Jun 06, 2023 | $1.46 | 6.13% |
FAQ
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