Trulieve Cannabis Corp. Stock Forecast
Red day on Wednesday for Trulieve Cannabis Corp. stock after losing 0%
(Updated on May 08, 2024)
No changes to the price of Trulieve Cannabis Corp. stock on the last trading day (Wednesday, 8th May 2024). During the last trading day the stock fluctuated 0% from a day low at $14.56 to a day high of $14.56. The price has risen in 5 of the last 10 days but is still down by -1.95% for this period.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $14.43 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 27.03% during the next 3 months and, with a 90% probability hold a price between $18.33 and $25.62 at the end of this 3-month period.
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TRUL.CN Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, May 07, 2024, and so far it has fallen 0%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Trulieve Cannabis Corp. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $16.32 and $15.89. A break-up above any of these levels will issue buy signals. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Trulieve Cannabis Corp. stock
On the downside, the stock finds support just below today's level from accumulated volume at $11.65 and $11.64. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Trulieve Cannabis Corp. finds support just below today's level at $11.65. If this is broken, then the next support from accumulated volume will be at $11.64 and $11.34.
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 between high and low, or 0%. For the last week the stock has had daily average volatility of 7.24%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (TRUL.CN) For The Upcoming Trading Day Of Thursday 9th
For the upcoming trading day on Thursday, 9th we expect Trulieve Cannabis Corp. to open at $14.56, and during the day (based on 14 day Average True Range), to move between $13.12 and $16.00, which gives a possible trading interval of +/-$1.44 (+/-9.90%) up or down from last closing price. If Trulieve Cannabis Corp. takes out the full calculated possible swing range there will be an estimated 19.81% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $14.85 (1.99%) than the support at $11.65 (19.99%), 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 Trulieve Cannabis Corp. stock A Buy?
Trulieve Cannabis Corp. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -1.542 Sell Candidate Unchanged
Predicted Opening Price for Trulieve Cannabis Corp. of Thursday, May 9, 2024
| Fair opening price May 9, 2024 | Current price |
|---|---|
| $14.56 ( 0%) | $14.56 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TRUL.CN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 14.56 | . | |
| R2 | 14.56 | . | ||
| R1 | 14.56 | . | ||
| Current price: | 14.56 | |||
| Support | S1 | 14.56 | . | |
| S2 | 14.56 | . | ||
| S3 | 14.56 | . |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 16.51 | 13.39 % | |
| R2 | 15.89 | 9.13 % | ||
| R1 | 14.85 | 1.99 % | ||
| Current price | 14.56 | |||
| Support | S1 | 11.65 | -19.99% | |
| S2 | 11.64 | -20.05% | ||
| S3 | 11.34 | -22.12% |
FAQ
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