TriMas Corporation Stock Forecast
Stronger technical forecast for TriMas Corporation stock price after Wednesday trading.
(Updated on Jul 03, 2024)
The TriMas Corporation stock price fell by -0.474% on the last day (Wednesday, 3rd Jul 2024) from $25.32 to $25.20. During the last trading day the stock fluctuated 1.59% from a day low at $25.12 to a day high of $25.52. The price has fallen in 6 of the last 10 days and is down by -2.1% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -35 thousand shares and in total, 44 thousand shares were bought and sold for approximately $1.10 million.
The stock is at the lower part of a wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $24.87 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect TriMas Corporation stock with a 90% probability to be traded between $24.70 and $27.51 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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TRS Signals & Forecast
There are mixed signals in the stock today. The TriMas Corporation stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $25.45 and $26.35. A break-up above any of these levels will issue buy signals. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. A buy signal was issued from a pivot bottom point on Monday, July 01, 2024, and so far it has risen 0.279%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for TriMas Corporation stock
TriMas Corporation finds support from accumulated volume at $25.13 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0.400 between high and low, or 1.59%. For the last week the stock has had daily average volatility of 1.94%
Our recommended stop-loss: $23.63 (-6.23%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 32 days ago.)
Trading Expectations (TRS) For The Upcoming Trading Day Of Friday 5th
For the upcoming trading day on Friday, 5th we expect TriMas Corporation to open at $25.28, and during the day (based on 14 day Average True Range), to move between $24.73 and $25.67, which gives a possible trading interval of +/-$0.474 (+/-1.88%) up or down from last closing price. If TriMas Corporation takes out the full calculated possible swing range there will be an estimated 3.76% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $25.13 (0.28%) than the resistance at $25.79 (2.34%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is TriMas Corporation stock A Buy?
TriMas Corporation 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.571 Hold/Accumulate Upgraded
Predicted Opening Price for TriMas Corporation of Friday, July 5, 2024
| Fair opening price July 5, 2024 | Current price |
|---|---|
| $25.28 ( 0.317%) | $25.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TRS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 25.68 | 1.90% |
| R2 | 25.53 | 1.30% |
| R1 | 25.43 | 0.92% |
| Price | 25.20 | |
| S1 | 25.13 | -0.289% |
| S2 | 25.03 | -0.663% |
| S3 | 24.88 | -1.27% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 26.25 | 4.17% |
| R2 | 26.06 | 3.41% |
| R1 | 25.79 | 2.34% |
| Price | 25.20 | |
| S1 | 25.13 | -0.278% |
| S2 | 25.04 | -0.635% |
| S3 | 0 | - |
TRS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 23, 2024 | May 06, 2024 | May 14, 2024 | $0.0400 | 0.148% |
| 2 | Feb 19, 2024 | Feb 29, 2024 | Mar 08, 2024 | $0.0400 | 0.162% |
| 3 | Oct 19, 2023 | Nov 01, 2023 | Nov 09, 2023 | $0.0400 | 0.172% |
| 4 | Jul 19, 2023 | Aug 02, 2023 | Aug 10, 2023 | $0.0400 | 0.155% |
| 5 | Apr 19, 2023 | May 03, 2023 | May 11, 2023 | $0.0400 | 0.156% |
FAQ
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