TORM plc Stock Forecast
TORM plc stock price up 1.88% on Tuesday
(Updated on Jul 02, 2024)
The TORM plc stock price gained 1.88% on the last trading day (Tuesday, 2nd Jul 2024), rising from kr265.80 to kr270.80. During the last trading day the stock fluctuated 1.94% from a day low at kr267.40 to a day high of kr272.60. The price has risen in 8 of the last 10 days and is up by 10.89% over the past 2 weeks. Volume fell on the last day by -14 thousand shares and in total, 154 thousand shares were bought and sold for approximately kr41.68 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 kr275.46 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 10.02% during the next 3 months and, with a 90% probability hold a price between kr270.22 and kr303.07 at the end of this 3-month period.
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TRMD-A.CO Signals & Forecast
The TORM plc 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 kr266.69 and kr256.96. A breakdown below any of these levels will issue sell signals. 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. 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, June 28, 2024, and so far it has fallen -0.441%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for TORM plc stock
On the downside, the stock finds support just below today's level from accumulated volume at kr254.60 and kr249.80. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, TORM plc finds support just below today's level at kr254.60. If this is broken, then the next support from accumulated volume will be at kr249.80 and kr241.40.
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 kr5.20 between high and low, or 1.94%. For the last week, the stock has had daily average volatility of 2.67%.
The TORM 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 and the RSI is still moving upwards. 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: kr262.68 (-3.00%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 79 and this increases the risk substantially. There is a sell signal from a pivot top found 11 days ago.)
Trading Expectations (TRMD-A.CO) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect TORM plc to open at kr270.27, and during the day (based on 14 day Average True Range), to move between kr263.62 and kr277.98, which gives a possible trading interval of +/-kr7.18 (+/-2.65%) up or down from last closing price. If TORM plc takes out the full calculated possible swing range there will be an estimated 5.31% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at kr271.00 (0.07%) than the support at kr254.60 (5.98%), 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 TORM plc 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 stock to perform well in the short-term.
Current score: 3.860 Buy Candidate Unchanged
Predicted Opening Price for TORM plc of Wednesday, July 3, 2024
Fair opening price July 3, 2024 | Current price |
---|---|
kr270.27 ( 0.197%) | kr270.80 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TRMD-A.CO
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 275.47 | 1.72% |
R2 | 273.48 | 0.99% |
R1 | 272.25 | 0.537% |
Price | 270.80 | |
S1 | 268.28 | -0.93% |
S2 | 267.05 | -1.38% |
S3 | 265.07 | -2.12% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 272.00 | 0.443% |
R2 | 271.40 | 0.222% |
R1 | 271.00 | 0.0739% |
Price | 270.80 | |
S1 | 254.60 | -5.98% |
S2 | 249.80 | -7.75% |
S3 | 241.40 | -10.86% |
TRMD-A Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | May 21, 2024 | May 21, 2024 | Jun 04, 2024 | kr10.40 | 4.11% |
2 | Apr 15, 2024 | Apr 15, 2024 | Apr 24, 2024 | kr9.52 | 4.05% |
3 | Nov 21, 2023 | Nov 21, 2023 | Nov 21, 2023 | kr1.46 | 0.682% |
4 | Aug 28, 2023 | Aug 28, 2023 | Sep 12, 2023 | kr10.31 | 5.89% |
5 | May 22, 2023 | May 22, 2023 | May 22, 2023 | kr1.46 | 0.798% |
FAQ
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