Touchstar plc Stock Forecast
Touchstar plc stock upgraded to Buy Candidate.
(Updated on May 17, 2024)
The Touchstar plc stock price gained 3.93% on the last trading day (Friday, 17th May 2024), rising from £89.00 to £92.50. During the last trading day the stock fluctuated 4.86% from a day low at £90.60 to a day high of £95.00. The price has been going up and down for this period, and there has been a 5.71% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 17 thousand more shares were traded than the day before. In total, 25 thousand shares were bought and sold for approximately £2.32 million.
The stock lies the upper part of a wide and 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 £94.60 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 -5.28% during the next 3 months and, with a 90% probability hold a price between £78.45 and £89.60 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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TST.L Signals & Forecast
Mostly positive signals in the chart today. The Touchstar 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 £88.43 and £88.93. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 8.06%. 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.
Support, Risk & Stop-loss for Touchstar plc stock
Touchstar plc finds support from accumulated volume at £90.00 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 with good liquidity the risk is considered very low in this stock. During the last day, the stock moved £4.40 between high and low, or 4.86%. For the last week the stock has had daily average volatility of 2.61%.
Our recommended stop-loss: £87.25 (-5.68%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 22 days ago.)
Trading Expectations (TST.L) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Touchstar plc to open at £92.70, and during the day (based on 14 day Average True Range), to move between £90.22 and £94.78, which gives a possible trading interval of +/-£2.28 (+/-2.47%) up or down from last closing price. If Touchstar plc takes out the full calculated possible swing range there will be an estimated 4.93% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £94.00 (1.62%) than the support at £90.00 (2.70%), 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 Touchstar plc stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.270 Buy Candidate Upgraded
Predicted Opening Price for Touchstar plc of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| £92.70 ( 0.216%) | £92.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TST.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 97.10 | 4.97 % | |
| R2 | 95.42 | 3.16 % | ||
| R1 | 94.38 | 2.03 % | ||
| Current price: | 92.50 | |||
| Support | S1 | 91.02 | -1.60 % | |
| S2 | 89.98 | -2.72 % | ||
| S3 | 88.30 | -4.54 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 97.50 | 5.41 % | |
| R2 | 95.00 | 2.70 % | ||
| R1 | 94.00 | 1.62 % | ||
| Current price | 92.50 | |||
| Support | S1 | 90.00 | -2.70% | |
| S2 | 89.00 | -3.78% | ||
| S3 | 87.50 | -5.41% |
TST Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 20, 2024 | Jun 20, 2024 | Jul 19, 2024 | £1.50 | 1.62% |
| 2 | Mar 05, 2014 | May 21, 2014 | Jun 25, 2014 | £1.60 | 2.00% |
| 3 | Mar 06, 2013 | May 22, 2013 | Jun 18, 2013 | £1.60 | 3.64% |
| 4 | Mar 07, 2012 | May 23, 2012 | Jun 20, 2012 | £1.60 | 1.45% |
| 5 | Mar 06, 2008 | May 07, 2008 | Jun 11, 2008 | £6.08 | 6.23% |
FAQ
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