Transense Technologies PLC Stock Forecast
Strong day for Transense Technologies PLC stock price on Thursday rising 5.85% to £108.50
(Updated on May 02, 2024)
The Transense Technologies PLC stock price gained 5.85% on the last trading day (Thursday, 2nd May 2024), rising from £102.50 to £108.50. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 9.70% from a day low at £100.00 to a day high of £109.70. The price has risen in 6 of the last 10 days and is up by 15.63% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 25 thousand more shares were traded than the day before. In total, 80 thousand shares were bought and sold for approximately £8.72 million.
The stockhas broken the wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is £103.19, a level that may pose a second chance to hit a runner. According to fan-theory £116.08 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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TRT.L Signals & Forecast
The Transense Technologies PLC 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 £98.34 and £99.20. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 18.58%. 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). Volume is rising along with the price. This is considered to be a good technical signal. The stock had a Golden Star Signal on Monday, June 12, 2023 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.
Golden Star 12 Months
The stock had a Golden Star Signal on Monday, June 12, 2023 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 Transense Technologies PLC stock
Transense Technologies PLC finds support from accumulated volume at £106.50 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 £9.70 between high and low, or 9.70%. For the last week, the stock has had daily average volatility of 5.92%.
Our recommended stop-loss: £104.70 (-3.50%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 12 days ago.)
Trading Expectations (TRT.L) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Transense Technologies PLC to open at £106.07, and during the day (based on 14 day Average True Range), to move between £104.50 and £112.50, which gives a possible trading interval of +/-£4.00 (+/-3.68%) up or down from last closing price. If Transense Technologies PLC takes out the full calculated possible swing range there will be an estimated 7.37% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ £106.50, some £2.00 (1.84%) from the current price of £108.50, our system finds the risk reward attractive.
Is Transense Technologies PLC stock A Buy?
Transense Technologies 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: 0.000 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Transense Technologies PLC of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| £106.07 ( 2.24%) | £108.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TRT.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 115.77 | 6.70 % | |
| R2 | 112.06 | 3.28 % | ||
| R1 | 109.77 | 1.17 % | ||
| Current price: | 108.50 | |||
| Support | S1 | 102.36 | -5.66 % | |
| S2 | 100.07 | -7.77 % | ||
| S3 | 96.37 | -11.18 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 108.50 | |||
| Support | S1 | 106.50 | -1.84% | |
| S2 | 102.50 | -5.53% | ||
| S3 | 94.50 | -12.90% |
FAQ
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