Toro Company (The) Stock Forecast
Stronger technical forecast for Toro Company (The) stock price after Tuesday trading.
(Updated on Jul 02, 2024)
The Toro Company (The) stock price fell by -0.493% on the last day (Tuesday, 2nd Jul 2024) from $91.33 to $90.88. During the last trading day the stock fluctuated 1.74% from a day low at $90.77 to a day high of $92.35. The price has fallen in 6 of the last 10 days and is down by -5.88% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -238 thousand shares and in total, 514 thousand shares were bought and sold for approximately $46.73 million.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 7.79% during the next 3 months and, with a 90% probability hold a price between $87.30 and $106.33 at the end of this 3-month period.
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TTC Signals & Forecast
The Toro Company (The) stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $92.15. On a fall, the stock will find some support from the long-term average at approximately $89.39. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. A buy signal was issued from a pivot bottom point on Tuesday, June 25, 2024, and so far it has risen 0.187%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Toro Company (The) stock
On the downside, the stock finds support just below today's level from accumulated volume at $86.23 and $79.39. 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, Toro Company (The) finds support just below today's level at $86.23. If this is broken, then the next support from accumulated volume will be at $79.39 and $78.80.
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 $1.58 between high and low, or 1.74%. For the last week, the stock has had daily average volatility of 2.19%.
Our recommended stop-loss: $85.21 (-6.24%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 9 days ago.)
Trading Expectations (TTC) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Toro Company (The) to open at $91.33, and during the day (based on 14 day Average True Range), to move between $88.40 and $93.36, which gives a possible trading interval of +/-$2.48 (+/-2.73%) up or down from last closing price. If Toro Company (The) takes out the full calculated possible swing range there will be an estimated 5.45% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $91.11 (0.25%) than the support at $86.23 (5.12%), 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 Toro Company (The) stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Toro Company (The) 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: 1.682 Buy Candidate Upgraded
Predicted Opening Price for Toro Company (The) of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $91.33 ( 0.499%) | $90.88 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TTC
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 92.91 | 2.24% |
| R2 | 92.31 | 1.57% |
| R1 | 91.94 | 1.16% |
| Price | 90.88 | |
| S1 | 90.73 | -0.165% |
| S2 | 90.36 | -0.576% |
| S3 | 89.75 | -1.24% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 95.98 | 5.61% |
| R2 | 95.30 | 4.86% |
| R1 | 91.11 | 0.253% |
| Price | 90.88 | |
| S1 | 86.23 | -5.12% |
| S2 | 79.39 | -12.64% |
| S3 | 78.80 | -13.29% |
TTC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 21, 2024 | Jun 18, 2024 | Jul 11, 2024 | $0.360 | 0.396% |
| 2 | Mar 19, 2024 | Mar 28, 2024 | Apr 12, 2024 | $0.360 | 0.420% |
| 3 | Dec 12, 2023 | Dec 26, 2023 | Jan 11, 2024 | $0.360 | 0.403% |
| 4 | Sep 19, 2023 | Oct 03, 2023 | Oct 18, 2023 | $0.340 | 0.403% |
| 5 | May 23, 2023 | Jun 21, 2023 | Jul 12, 2023 | $0.340 | 0.324% |
FAQ
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