Tourmaline Bio, Inc. Stock Forecast

Green day on Friday for Tourmaline Bio, Inc.
(Updated on Jun 14, 2024)

TRML Signals & Forecast

The Tourmaline Bio, Inc. 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 $15.44 and $14.83. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, May 24, 2024, and so far it has risen 26.10%. 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.

Support, Risk & Stop-loss for Tourmaline Bio, Inc. stock

On the downside, the stock finds support just below today's level from accumulated volume at $15.50 and $15.41. 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, Tourmaline Bio, Inc. finds support just below today's level at $15.50. If this is broken, then the next support from accumulated volume will be at $15.41 and $15.20.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.750 between high and low, or 4.56%. For the last week, the stock has had daily average volatility of 7.79%.

The Tourmaline Bio, Inc. stock is extremely overbought on RSI14 (85). This increases the short-term risk substantially. Since the Tourmaline Bio, Inc. has been rising for 6 days in a row, the risk over the next couple of days has increased. As we cannot be certain with regards to the size of the reaction, we urge caution.

Our recommended stop-loss: $16.49 (-2.80%) (This stock has high daily movements and this gives high risk. The RSI14 is 85 and this increases the risk substantially. There is a buy signal from a pivot bottom found 66 days ago.)

Trading Expectations (TRML) For The Upcoming Trading Day Of Monday 17th

For the upcoming trading day on Monday, 17th we expect Tourmaline Bio, Inc. to open at $16.86, and during the day (based on 14 day Average True Range), to move between $15.98 and $17.94, which gives a possible trading interval of +/-$0.98 (+/-5.76%) up or down from last closing price. If Tourmaline Bio, Inc. takes out the full calculated possible swing range there will be an estimated 11.53% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $17.86 (5.31%) than the support at $15.50 (8.61%), 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 Tourmaline Bio, Inc. stock A Buy?

Tourmaline Bio, Inc. 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.

Current score: 0.000 Hold/Accumulate Unchanged

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 Tourmaline Bio, Inc. of Monday, June 17, 2024

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