Tenaris SA Stock Forecast
Tenaris SA stock price ended at $31.14 on Wednesday, after gaining 1.04%.
(Updated on Jul 03, 2024)
The Tenaris SA stock price gained 1.04% on the last trading day (Wednesday, 3rd Jul 2024), rising from $30.82 to $31.14. It has now gained 4 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 1.00% from a day low at $30.97 to a day high of $31.28. The price has been going up and down for this period, and there has been a 0.06% gain for the last 2 weeks. Volume fell on the last day by -377 thousand shares and in total, 628 thousand shares were bought and sold for approximately $19.54 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies the upper part of a falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $31.25 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -22.99% during the next 3 months and, with a 90% probability hold a price between $22.55 and $24.07 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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TS Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, June 27, 2024, and so far it has risen 4.22%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Tenaris SA stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $32.32. On a fall, the stock will find some support from the short-term average at $30.58. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.
Support, Risk & Stop-loss for Tenaris SA stock
Tenaris SA finds support from accumulated volume at $30.54 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.310 (1.00%) between high and low. For the last week, the stock has had daily average volatility of 1.32%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (TS) For The Upcoming Trading Day Of Friday 5th
For the upcoming trading day on Friday, 5th we expect Tenaris SA to open at $31.13, and during the day (based on 14 day Average True Range), to move between $30.52 and $31.76, which gives a possible trading interval of +/-$0.618 (+/-1.99%) up or down from last closing price. If Tenaris SA takes out the full calculated possible swing range there will be an estimated 3.97% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $30.54 (1.93%) than the resistance at $32.25 (3.56%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Tenaris SA stock A Buy?
Tenaris SA 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: -1.585 Sell Candidate Unchanged
Predicted Opening Price for Tenaris SA of Friday, July 5, 2024
| Fair opening price July 5, 2024 | Current price |
|---|---|
| $31.13 ( 0.0321%) | $31.14 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 31.44 | 0.96% |
| R2 | 31.32 | 0.583% |
| R1 | 31.25 | 0.348% |
| Price | 31.14 | |
| S1 | 31.01 | -0.412% |
| S2 | 30.94 | -0.647% |
| S3 | 30.82 | -1.03% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 34.61 | 11.14% |
| R2 | 34.08 | 9.44% |
| R1 | 32.25 | 3.56% |
| Price | 31.14 | |
| S1 | 30.54 | -1.93% |
| S2 | 30.32 | -2.63% |
| S3 | 29.88 | -4.05% |
TS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 21, 2024 | May 20, 2024 | May 22, 2024 | $0.80 | 2.38% |
| 2 | Nov 02, 2023 | Nov 20, 2023 | Nov 22, 2023 | $0.400 | 1.19% |
| 3 | Apr 28, 2023 | May 22, 2023 | May 31, 2023 | $0.680 | 2.75% |
| 4 | May 10, 2023 | Nov 21, 2022 | Nov 23, 2022 | $0.340 | 1.00% |
| 5 | May 03, 2022 | May 23, 2022 | May 25, 2022 | $0.560 | 1.69% |
FAQ
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