TORM PLC Class A Stock Forecast
TORM PLC Class A stock downgraded to Sell Candidate
(Updated on Apr 18, 2024)
The TORM PLC Class A stock price fell by -2.69% on the last day (Thursday, 18th Apr 2024) from $33.06 to $32.17. During the last trading day the stock fluctuated 2.53% from a day low at $32.05 to a day high of $32.86. The price has fallen in 6 of the last 10 days and is down by -8.79% for this period. Volume has increased on the last day by 201 thousand 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, 763 thousand shares were bought and sold for approximately $24.53 million.
The stock has broken the wide and falling short-term trend down. Firstly a stronger fallrate is indicated, but false breaks and "sell-off" may occur. However, a further fall is realistic and any reactions back to the breaking point ($32.24) are considered to be a "second chance" to get out. According to the fan-theory $28.42 will represent the new bottom line of the next trend, but it is far too early to say this for certain.
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TRMD Signals & Forecast
There are few to no technical positive signals at the moment. The TORM PLC Class A stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $33.89 and $34.23. 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 11, 2024, and so far it has fallen -10.21%. 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. 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
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $0.81 between high and low, or 2.53%. For the last week, the stock has had daily average volatility of 2.66%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (TRMD) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect TORM PLC Class A to open at $32.36, and during the day (based on 14 day Average True Range), to move between $31.17 and $33.17, which gives a possible trading interval of +/-$1.00 (+/-3.10%) 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 6.21% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $32.80, some $0.630 (1.96%) from the current price of $32.17, our system finds the risk reward not very attractive.
Is TORM PLC Class A stock A Buy?
TORM PLC Class A holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore 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 Hold/Accumulate to a Sell candidate.
Current score: -3.725 Sell Candidate Downgraded
Predicted Opening Price for TORM PLC Class A of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $32.36 ( 0.591%) | $32.17 |
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 | |||
|---|---|---|---|---|
| Resistance | R3 | 33.17 | 3.11 % | |
| R2 | 32.86 | 2.15 % | ||
| R1 | 32.67 | 1.55 % | ||
| Current price: | 32.17 | |||
| Support | S1 | 32.05 | -0.371 % | |
| S2 | 31.86 | -0.97 % | ||
| S3 | 31.55 | -1.93 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 35.49 | 10.32 % | |
| R2 | 33.76 | 4.94 % | ||
| R1 | 32.80 | 1.96 % | ||
| Current price | 32.17 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
TRMD Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 07, 2024 | Apr 15, 2024 | Apr 24, 2024 | $0.99 | 3.08% |
| 2 | Nov 09, 2023 | Nov 21, 2023 | Dec 05, 2023 | $1.46 | 5.32% |
| 3 | Aug 28, 2023 | Aug 28, 2023 | Sep 12, 2023 | $1.50 | 5.95% |
| 4 | May 11, 2023 | May 22, 2023 | Jun 06, 2023 | $1.46 | 6.13% |
| 5 | Mar 16, 2023 | Mar 24, 2023 | Apr 05, 2023 | $2.59 | 8.79% |
FAQ
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