Truworths International Limited Stock Forecast
Evaluation of Truworths International Limited stock downgraded after the last trading session.
(Updated on May 23, 2024)
The Truworths International Limited stock price fell by -0.604% on the last day (Thursday, 23rd May 2024) from $8,283.00 to $8,233.00. During the last trading day the stock fluctuated 1.09% from a day low at $8,191.00 to a day high of $8,280.00. The price has risen in 7 of the last 10 days and is up by 7.33% over the past 2 weeks. Volume has increased on the last day by 25 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, 789 thousand shares were bought and sold for approximately $6.49 billion.
The stockis at the upper part of a wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $8,304.17 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Truworths International Limited stock with a 90% probability to be traded between $7,107.38 and $8,309.09 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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TRU.JO Signals & Forecast
The Truworths International Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $8,153.00 and $7,613.77. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, May 22, 2024, and so far it has fallen -0.604%. Further fall is indicated until a new bottom pivot has been found. 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 Truworths International Limited stock
Truworths International Limited finds support from accumulated volume at $8,116.00 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 $89.00 between high and low, or 1.09%. For the last week, the stock has had daily average volatility of 1.83%.
Our recommended stop-loss: $8,029.44 (-2.47%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 26 days ago.)
Trading Expectations (TRU.JO) For The Upcoming Trading Day Of Friday 24th
For the upcoming trading day on Friday, 24th we expect Truworths International Limited to open at $8,234.67, and during the day (based on 14 day Average True Range), to move between $8,039.53 and $8,426.47, which gives a possible trading interval of +/-$193.47 (+/-2.35%) up or down from last closing price. If Truworths International Limited takes out the full calculated possible swing range there will be an estimated 4.70% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $8,238.00 (0.06%) than the support at $8,116.00 (1.42%), 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 Truworths International Limited stock A Buy?
Truworths International Limited 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: 0.974 Hold/Accumulate Downgraded
Predicted Opening Price for Truworths International Limited of Friday, May 24, 2024
Fair opening price May 24, 2024 | Current price |
---|---|
$8,234.67 ( 0.0202%) | $8,233.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TRU.JO
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 8,323.67 | 1.10 % | |
R2 | 8,289.67 | 0.688 % | ||
R1 | 8,268.66 | 0.433 % | ||
Current price: | 8,233.00 | |||
Support | S1 | 8,200.67 | -0.393 % | |
S2 | 8,179.66 | -0.648 % | ||
S3 | 8,145.67 | -1.06 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 8,300.00 | 0.81 % | |
R2 | 8,271.00 | 0.462 % | ||
R1 | 8,238.00 | 0.0607 % | ||
Current price | 8,233.00 | |||
Support | S1 | 8,116.00 | -1.42% | |
S2 | 7,780.00 | -5.50% | ||
S3 | 7,454.00 | -9.46% |
TRU Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 19, 2024 | Mar 19, 2024 | Mar 25, 2024 | $332.00 | 4.29% |
2 | Sep 20, 2023 | Sep 20, 2023 | Sep 20, 2023 | $245.00 | 3.29% |
3 | Mar 15, 2023 | Mar 15, 2023 | Mar 15, 2023 | $320.00 | 6.04% |
4 | Sep 21, 2022 | Sep 21, 2022 | Sep 21, 2022 | $205.00 | 3.82% |
5 | Mar 09, 2022 | Mar 09, 2022 | Mar 09, 2022 | $300.00 | 5.42% |
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