Trident Royalties Plc Stock Forecast
Trident Royalties Plc stock downgraded to Hold/Accumulate
(Updated on May 02, 2024)
The Trident Royalties Plc stock price fell by -0.86% on the last day (Thursday, 2nd May 2024) from £35.00 to £34.70. During the last trading day the stock fluctuated 4.02% from a day low at £34.61 to a day high of £36.00. The price has been going up and down for this period, and there has been a 0.58% gain for the last 2 weeks. Volume has increased on the last day by 130 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 588 thousand shares were bought and sold for approximately £20.39 million.
The stock is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Trident Royalties Plc stock with a 90% probability to be traded between £32.84 and £35.40 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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TRR.L Signals & Forecast
The Trident Royalties Plc stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately £34.74. On a fall, the stock will find some support from the long-term average at approximately £34.69. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 0.580%. Further rise is indicated until a new top pivot has been found. 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). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Trident Royalties Plc stock
Trident Royalties Plc finds support from accumulated volume at £34.50 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved £1.39 between high and low, or 4.02%. For the last week the stock has had daily average volatility of 2.16%.
Our recommended stop-loss: £32.91 (-5.15%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 12 days ago.)
Trading Expectations (TRR.L) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Trident Royalties Plc to open at £35.10, and during the day (based on 14 day Average True Range), to move between £33.67 and £35.73, which gives a possible trading interval of +/-£1.03 (+/-2.96%) up or down from last closing price. If Trident Royalties Plc takes out the full calculated possible swing range there will be an estimated 5.93% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £34.75 (0.14%) than the support at £34.50 (0.58%), 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 Trident Royalties Plc stock A Buy?
Trident Royalties Plc 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. 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 Hold/Accumulate candidate.
Current score: -0.131 Hold/Accumulate Downgraded
Predicted Opening Price for Trident Royalties Plc of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| £35.10 ( 1.16%) | £34.70 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TRR.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 36.49 | 5.17 % | |
| R2 | 35.96 | 3.64 % | ||
| R1 | 35.63 | 2.69 % | ||
| Current price: | 34.70 | |||
| Support | S1 | 34.57 | -0.368 % | |
| S2 | 34.24 | -1.31 % | ||
| S3 | 33.71 | -2.84 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 35.50 | 2.31 % | |
| R2 | 35.00 | 0.86 % | ||
| R1 | 34.75 | 0.144 % | ||
| Current price | 34.70 | |||
| Support | S1 | 34.50 | -0.576% | |
| S2 | 34.25 | -1.30% | ||
| S3 | 33.75 | -2.74% |
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