Tronox Limited Stock Forecast
Stronger technical forecast for Tronox Limited stock price after Friday trading.
(Updated on Apr 26, 2024)
The Tronox Limited stock price gained 0.633% on the last trading day (Friday, 26th Apr 2024), rising from $17.37 to $17.48. During the last trading day the stock fluctuated 1.79% from a day low at $17.31 to a day high of $17.62. The price has risen in 6 of the last 10 days and is up by 7.24% over the past 2 weeks. Volume fell on the last day by -147 thousand shares and in total, 635 thousand shares were bought and sold for approximately $11.10 million. 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 wide and 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 27.10% during the next 3 months and, with a 90% probability hold a price between $20.58 and $24.26 at the end of this 3-month period.
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TROX Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Wednesday, March 27, 2024, and so far it has fallen -1.30%. 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). The Tronox Limited 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 $17.03 and $16.77. A breakdown below any of these levels will issue sell signals. 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 Tronox Limited stock
Tronox Limited finds support from accumulated volume at $17.14 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 $0.310 between high and low, or 1.79%. For the last week, the stock has had daily average volatility of 3.41%.
Our recommended stop-loss: $16.89 (-3.39%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 21 days ago.)
Trading Expectations (TROX) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Tronox Limited to open at $17.47, and during the day (based on 14 day Average True Range), to move between $16.95 and $18.01, which gives a possible trading interval of +/-$0.529 (+/-3.03%) up or down from last closing price. If Tronox Limited takes out the full calculated possible swing range there will be an estimated 6.05% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $17.61 (0.74%) than the support at $17.14 (1.95%), 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.
Earnings coming up
Tronox Limited will release earnings AMC on Wednesday, May 01, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.0100. We will update the financials statements for Tronox Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.00% in the first trading day after earnings release.
Is Tronox Limited 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 Tronox Limited stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.403 Buy Candidate Upgraded
Predicted Opening Price for Tronox Limited of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $17.47 ( 0.0572%) | $17.48 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TROX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 17.78 | 1.72 % | |
| R2 | 17.66 | 1.04 % | ||
| R1 | 17.59 | 0.620 % | ||
| Current price: | 17.48 | |||
| Support | S1 | 17.35 | -0.735 % | |
| S2 | 17.28 | -1.15 % | ||
| S3 | 17.16 | -1.83 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 17.71 | 1.32 % | ||
| R1 | 17.61 | 0.744 % | ||
| Current price | 17.48 | |||
| Support | S1 | 17.14 | -1.95% | |
| S2 | 15.00 | -14.19% | ||
| S3 | 14.18 | -18.88% |
TROX Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 01, 2024 | Mar 01, 2024 | Apr 05, 2024 | $0.125 | 0.737% |
| 2 | Nov 01, 2023 | Nov 10, 2023 | Dec 15, 2023 | $0.130 | 0.96% |
| 3 | Aug 02, 2023 | Aug 11, 2023 | Sep 15, 2023 | $0.125 | 0.91% |
| 4 | May 03, 2023 | May 12, 2023 | Jun 16, 2023 | $0.125 | 0.97% |
| 5 | Feb 22, 2023 | Mar 03, 2023 | Apr 06, 2023 | $0.125 | 0.90% |
FAQ
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