Tourmaline Oil Corp. Stock Forecast
Tourmaline Oil Corp. stock price up 0.450% on Thursday
(Updated on May 16, 2024)
The Tourmaline Oil Corp. stock price gained 0.450% on the last trading day (Thursday, 16th May 2024), rising from $48.23 to $48.45. During the last trading day the stock fluctuated 0.91% from a day low at $48.31 to a day high of $48.75. The price has risen in 6 of the last 10 days and is up by 1.38% over the past 2 weeks. Volume fell on the last day by -14 thousand shares and in total, 8 thousand shares were bought and sold for approximately $372.87 thousand. 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 middle of a strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 11.51% during the next 3 months and, with a 90% probability hold a price between $52.56 and $57.33 at the end of this 3-month period.
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TRMLF Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Monday, April 29, 2024, and so far it has fallen -3.64%. 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 fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not. The Tourmaline Oil Corp. 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 $48.30 and $48.10. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for Tourmaline Oil Corp. stock
Tourmaline Oil Corp. finds support from accumulated volume at $46.88 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the stock. During the last day, the stock moved $0.440 between high and low, or 0.91%. For the last week the stock has had daily average volatility of 2.83%.
Our recommended stop-loss: $46.45 (-4.13%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 13 days ago.)
Trading Expectations (TRMLF) For The Upcoming Trading Day Of Friday 17th
For the upcoming trading day on Friday, 17th we expect Tourmaline Oil Corp. to open at $48.50, and during the day (based on 14 day Average True Range), to move between $46.96 and $49.94, which gives a possible trading interval of +/-$1.49 (+/-3.08%) up or down from last closing price. If Tourmaline Oil Corp. takes out the full calculated possible swing range there will be an estimated 6.16% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $49.06 (1.26%) than the support at $46.88 (3.24%), 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 Oil Corp. 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 Tourmaline Oil Corp. stock to perform well in the short-term.
Current score: 2.403 Buy Candidate Unchanged
Predicted Opening Price for Tourmaline Oil Corp. of Friday, May 17, 2024
| Fair opening price May 17, 2024 | Current price |
|---|---|
| $48.50 ( 0.110%) | $48.45 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TRMLF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 48.94 | 1.02 % | |
| R2 | 48.78 | 0.671 % | ||
| R1 | 48.67 | 0.457 % | ||
| Current price: | 48.45 | |||
| Support | S1 | 48.34 | -0.237 % | |
| S2 | 48.23 | -0.451 % | ||
| S3 | 48.06 | -0.798 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 49.40 | 1.95 % | |
| R2 | 49.23 | 1.61 % | ||
| R1 | 49.06 | 1.26 % | ||
| Current price | 48.45 | |||
| Support | S1 | 46.88 | -3.24% | |
| S2 | 46.36 | -4.31% | ||
| S3 | 45.33 | -6.44% |
TRMLF Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 01, 2024 | Jun 14, 2024 | Jun 28, 2024 | $0.240 | 0.495% |
| 2 | May 08, 2024 | May 08, 2024 | May 08, 2024 | $0 | 0% |
| 3 | Mar 13, 2024 | Mar 13, 2024 | Mar 21, 2024 | $0.371 | 0.83% |
| 4 | Dec 14, 2023 | Dec 14, 2023 | Dec 14, 2023 | $0 | 0% |
| 5 | Oct 17, 2023 | Oct 23, 2023 | Nov 01, 2023 | $0.729 | 1.37% |
FAQ
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