CTEEP - Companhia de Transmissão de Stock Forecast

Green day on Friday for CTEEP - Companhia de Transmissão de
(Updated on Jun 21, 2024)

TRPL4.SA Signals & Forecast

The CTEEP - Companhia de Transmissão de stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at R$25.39 and R$25.84. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, June 12, 2024, and so far it has risen 7.38%. 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). The stock had a Golden Star Signal on Thursday, May 02, 2024 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

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$1.30 between high and low, or 5.11%. For the last week, the stock has had daily average volatility of 2.53%.

Our recommended stop-loss: R$25.02 (-5.48%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 22 days ago.)

Trading Expectations (TRPL4.SA) For The Upcoming Trading Day Of Monday 24th

For the upcoming trading day on Monday, 24th we expect CTEEP - Companhia de Transmissão de Energia Elétrica Paulista S.A. to open at R$26.20, and during the day (based on 14 day Average True Range), to move between R$25.83 and R$27.11, which gives a possible trading interval of +/-R$0.635 (+/-2.40%) 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 4.80% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at R$26.55 (0.30%) than the support at R$25.24 (4.65%), 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 CTEEP - Companhia de Transmissão de Energia Elétrica Paulista S.A. stock A Buy?

Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for CTEEP - Companhia de Transmissão de stock to perform well in the short-term period.

Current score: 2.570 Buy Candidate Unchanged

Predicted Opening Price for CTEEP - Companhia de Transmissão de Energia Elétrica Paulista S.A. of Monday, June 24, 2024

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