Três Tentos Agroindustrial S/A Stock Forecast

Weaker technical forecast for Três Tentos Agroindustrial S/A as stock downgraded to Hold/Accumulate.
(Updated on May 17, 2024)

TTEN3.SA Signals & Forecast

The Três Tentos Agroindustrial S/A stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at R$10.10 and R$10.06. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Thursday, May 09, 2024, and so far it has fallen -1.73%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while price remained unchanged. This may be an early warning, but it may also not. We still recommend that you pay attention over the next couple of days.

Support, Risk & Stop-loss for Três Tentos Agroindustrial S/A stock

Três Tentos Agroindustrial S/A finds support from accumulated volume at R$9.99 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

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 R$0.200 between high and low, or 1.99%. For the last week, the stock has had daily average volatility of 2.47%.

Our recommended stop-loss: R$9.76 (-4.50%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 6 days ago.)

Trading Expectations (TTEN3.SA) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Três Tentos Agroindustrial S/A to open at R$10.17, and during the day (based on 14 day Average True Range), to move between R$9.86 and R$10.58, which gives a possible trading interval of +/-R$0.360 (+/-3.53%) up or down from last closing price. If Três Tentos Agroindustrial S/A takes out the full calculated possible swing range there will be an estimated 7.05% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at R$10.40 (1.76%) than the support at R$9.99 (2.25%), 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 Três Tentos Agroindustrial S/A stock A Buy?

Três Tentos Agroindustrial S/A holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: 0.820 Hold/Accumulate Downgraded

Predicted Opening Price for Três Tentos Agroindustrial S/A of Monday, May 20, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.