Toro Company (The) Stock Forecast
Toro Company (The) stock downgraded from Hold/Accumulate to Sell Candidate after Thursday trading session.
(Updated on Mar 28, 2024)
The Toro Company (The) stock price gained 1.70% on the last trading day (Thursday, 28th Mar 2024), rising from $90.10 to $91.63. During the last trading day the stock fluctuated 2.81% from a day low at $89.47 to a day high of $91.98. The price has risen in 6 of the last 10 days and is up by 3.65% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 74 thousand more shares were traded than the day before. In total, 605 thousand shares were bought and sold for approximately $55.42 million.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -2.71% during the next 3 months and, with a 90% probability hold a price between $84.75 and $93.27 at the end of this 3-month period.
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TTC Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, March 12, 2024, and so far it has risen 3.89%. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Toro Company (The) 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 $92.08. On a fall, the stock will find some support from the short-term average at $90.37. 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 Toro Company (The) stock
Toro Company (The) finds support from accumulated volume at $90.69 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 $2.51 (2.81%) between high and low. For the last week, the stock has had daily average volatility of 1.83%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (TTC) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Toro Company (The) to open at $91.03, and during the day (based on 14 day Average True Range), to move between $89.58 and $93.68, which gives a possible trading interval of +/-$2.05 (+/-2.24%) up or down from last closing price. If Toro Company (The) takes out the full calculated possible swing range there will be an estimated 4.48% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $92.48 (0.93%) than the support at $90.69 (1.03%), 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?
Toro Company (The) 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.149 Sell Candidate Downgraded
Predicted Opening Price for Toro Company (The) of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$91.03 ( 0.658%) | $91.63 |
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 | |||
---|---|---|---|---|
Resistance | R3 | 93.54 | 2.08 % | |
R2 | 92.58 | 1.03 % | ||
R1 | 91.99 | 0.388 % | ||
Current price: | 91.63 | |||
Support | S1 | 90.07 | -1.70 % | |
S2 | 89.48 | -2.35 % | ||
S3 | 88.52 | -3.40 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 93.77 | 2.34 % | |
R2 | 93.72 | 2.28 % | ||
R1 | 92.48 | 0.93 % | ||
Current price | 91.63 | |||
Support | S1 | 90.69 | -1.03% | |
S2 | 88.69 | -3.21% | ||
S3 | 88.54 | -3.37% |
TTC Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 19, 2024 | Mar 28, 2024 | Apr 12, 2024 | $0.360 | 0.393% |
2 | Dec 12, 2023 | Dec 26, 2023 | Jan 11, 2024 | $0.360 | 0.403% |
3 | Sep 19, 2023 | Oct 03, 2023 | Oct 18, 2023 | $0.340 | 0.403% |
4 | May 23, 2023 | Jun 21, 2023 | Jul 12, 2023 | $0.340 | 0.324% |
5 | May 23, 2023 | Jun 20, 2023 | Jul 12, 2023 | $0.340 | 0.324% |
FAQ
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