Trinity Industries Inc Stock Forecast
Volatile ride for Trinity Industries Inc stock price on Wednesday moving between $26.84 and $29.83
(Updated on May 01, 2024)
The Trinity Industries Inc stock price gained 13.57% on the last trading day (Wednesday, 1st May 2024), rising from $26.02 to $29.55. During the last trading day the stock fluctuated 11.14% from a day low at $26.84 to a day high of $29.83. The price has risen in 6 of the last 10 days and is up by 14.14% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 755 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $40.60 million.
The stock has broken the wide and weak rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $28.98, a level that may pose a second chance to hit a runner. According to fan-theory $32.23 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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TRN Signals & Forecast
The Trinity Industries 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 $27.26 and $26.93. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 14.14%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Trinity Industries Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at $27.85 and $26.76. 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, Trinity Industries Inc finds support just below today's level at $27.85. If this is broken, then the next support from accumulated volume will be at $26.76 and $25.98.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $2.99 (11.14%) between high and low. For the last week, the stock has had daily average volatility of 4.19%.
Our recommended stop-loss: $28.43 (-3.78%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 10 days ago.)
Trading Expectations (TRN) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Trinity Industries Inc to open at $28.74, and during the day (based on 14 day Average True Range), to move between $28.64 and $30.46, which gives a possible trading interval of +/-$0.91 (+/-3.07%) up or down from last closing price. If Trinity Industries Inc takes out the full calculated possible swing range there will be an estimated 6.14% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $27.85, some $1.70 (5.75%) from the current price of $29.55, our system finds the risk reward attractive.
Is Trinity Industries Inc stock A Buy?
Trinity Industries Inc holds several positive signals and has broken the weak rising trend up. As the stock is also in great technical shape we, therefore, consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Buy candidate.
Current score: 7.406 Strong Buy Candidate Upgraded
Predicted Opening Price for Trinity Industries Inc of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $28.74 ( 2.74%) | $29.55 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TRN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 31.73 | 7.38 % | |
| R2 | 30.59 | 3.51 % | ||
| R1 | 29.88 | 1.12 % | ||
| Current price: | 29.55 | |||
| Support | S1 | 27.60 | -6.61 % | |
| S2 | 26.89 | -8.99 % | ||
| S3 | 25.75 | -12.86 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 29.55 | |||
| Support | S1 | 27.85 | -5.75% | |
| S2 | 26.76 | -9.44% | ||
| S3 | 25.98 | -12.08% |
TRN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 07, 2024 | Apr 12, 2024 | Apr 30, 2024 | $0.280 | 1.08% |
| 2 | Jan 11, 2024 | Jan 11, 2024 | Jan 31, 2024 | $0.280 | 1.11% |
| 3 | Sep 06, 2023 | Oct 12, 2023 | Oct 31, 2023 | $0.260 | 1.25% |
| 4 | May 09, 2023 | Jul 13, 2023 | Jul 31, 2023 | $0.260 | 0.99% |
| 5 | Mar 07, 2023 | Apr 13, 2023 | Apr 28, 2023 | $0.260 | 1.09% |
FAQ
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