TORM PLC Class A Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Evaluation of TORM PLC Class A stock downgraded after the last trading session.
(Updated on May 01, 2024)
The TORM PLC Class A stock price fell by -1.77% on the last day (Wednesday, 1st May 2024) from $34.43 to $33.82. During the last trading day the stock fluctuated 1.96% from a day low at $33.61 to a day high of $34.27. The price has risen in 7 of the last 10 days and is up by 2.3% over the past 2 weeks. Volume has increased on the last day by 238 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, 509 thousand shares were bought and sold for approximately $17.23 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect TORM PLC Class A stock with a 90% probability to be traded between $32.45 and $36.56 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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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 $34.07 and $34.27. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 29, 2024, and so far it has fallen -2.93%. 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
TORM PLC Class A finds support from accumulated volume at $33.76 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 $0.660 between high and low, or 1.96%. For the last week, the stock has had daily average volatility of 1.77%.
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 Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect TORM PLC Class A to open at $33.90, and during the day (based on 14 day Average True Range), to move between $32.97 and $34.67, which gives a possible trading interval of +/-$0.85 (+/-2.52%) 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 5.04% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $33.76 (0.18%) than the resistance at $34.58 (2.25%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
TORM PLC Class A will release earnings BMO on Thursday, May 09, 2024. We will update the financials statements for TORM PLC Class A, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.20% in the first trading day after earnings release.
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: -4.255 Sell Candidate Downgraded
Predicted Opening Price for TORM PLC Class A of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $33.90 ( 0.237%) | $33.82 |
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 | 34.56 | 2.19 % | |
| R2 | 34.31 | 1.44 % | ||
| R1 | 34.15 | 0.98 % | ||
| Current price: | 33.82 | |||
| Support | S1 | 33.65 | -0.509 % | |
| S2 | 33.49 | -0.97 % | ||
| S3 | 33.24 | -1.71 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 36.20 | 7.04 % | |
| R2 | 35.33 | 4.46 % | ||
| R1 | 34.58 | 2.25 % | ||
| Current price | 33.82 | |||
| Support | S1 | 33.76 | -0.177% | |
| S2 | 33.20 | -1.83% | ||
| S3 | 32.80 | -3.02% |
TRMD Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 07, 2024 | Apr 15, 2024 | Apr 24, 2024 | $0.99 | 2.97% |
| 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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