CTEEP - Companhia de Transmissão de Stock Forecast

CTEEP - Companhia de Transmissão de stock price up 1.36% on Friday
(Updated on Jun 14, 2024)

TRPL4.SA Signals & Forecast

There are mixed signals in the stock today. The CTEEP - Companhia de Transmissão de 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 R$25.80. On a fall, the stock will find some support from the short-term average at R$24.98. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). A buy signal was issued from a pivot bottom point on Wednesday, June 12, 2024, and so far it has risen 2.43%. Further rise is indicated until a new top pivot has been found. 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.

Buy

Special Signal Notification

Double Bottom Formation

A buy signal from a double bottom formation was found on Wednesday, June 12, 2024 and based on theory for this formation the price should go up by 19.65% to R$30.21 within 34 trading days since signal was issued (Monday, June 17, 2024).

Support, Risk & Stop-loss for CTEEP - Companhia de Transmissão de stock

CTEEP - Companhia de Transmissão de finds support from accumulated volume at R$25.24 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 R$0.520 between high and low, or 2.10%. For the last week, the stock has had daily average volatility of 1.89%.

Our recommended stop-loss: R$23.81 (-5.69%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 17 days ago.)

Trading Expectations (TRPL4.SA) For The Upcoming Trading Day Of Monday 17th

For the upcoming trading day on Monday, 17th we expect CTEEP - Companhia de Transmissão de Energia Elétrica Paulista S.A. to open at R$25.12, and during the day (based on 14 day Average True Range), to move between R$24.63 and R$25.87, which gives a possible trading interval of +/-R$0.618 (+/-2.45%) up or down from last closing price. If CTEEP - Companhia de Transmissão de Energia Elétrica Paulista S.A. takes out the full calculated possible swing range there will be an estimated 4.89% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at R$25.24 (0.04%) than the resistance at R$26.55 (5.15%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is CTEEP - Companhia de Transmissão de Energia Elétrica Paulista S.A. stock A Buy?

CTEEP - Companhia de Transmissão de 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: -0.723 Hold/Accumulate Unchanged

Predicted Opening Price for CTEEP - Companhia de Transmissão de Energia Elétrica Paulista S.A. of Monday, June 17, 2024

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