Transcat Stock Forecast

Evaluation of Transcat stock downgraded after the last trading session.
(Updated on Apr 25, 2024)

TRNS Signals & Forecast

There are mixed signals in the stock today. The Transcat stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $109.88. On a fall, the stock will find some support from the short-term average at $109.35. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Tuesday, April 23, 2024, and so far it has fallen -4.47%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Transcat stock

Transcat finds support from accumulated volume at $108.55 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

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 $3.16 (2.90%) between high and low. For the last week, the stock has had daily average volatility of 3.86%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (TRNS) For The Upcoming Trading Day Of Friday 26th

For the upcoming trading day on Friday, 26th we expect Transcat to open at $110.29, and during the day (based on 14 day Average True Range), to move between $106.61 and $113.07, which gives a possible trading interval of +/-$3.23 (+/-2.94%) up or down from last closing price. If Transcat takes out the full calculated possible swing range there will be an estimated 5.89% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $110.00 (0.15%) than the support at $108.55 (1.17%), 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 Transcat stock A Buy?

Transcat holds several negative signals and we believe that 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 Buy to a Sell candidate.

Current score: -2.673 Sell Candidate Downgraded

Predicted Opening Price for Transcat of Friday, April 26, 2024

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