TTM Technologies Stock Forecast
Green day on Wednesday for TTM Technologies
(Updated on Mar 27, 2024)
The TTM Technologies stock price gained 3.67% on the last trading day (Wednesday, 27th Mar 2024), rising from $14.98 to $15.53. During the last trading day the stock fluctuated 3.22% from a day low at $15.07 to a day high of $15.55. The price has been going up and down for this period, and there has been a 7.1% 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, 80 thousand more shares were traded than the day before. In total, 480 thousand shares were bought and sold for approximately $7.46 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect TTM Technologies stock with a 90% probability to be traded between $13.76 and $16.14 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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TTMI Signals & Forecast
Mostly positive signals in the chart today. The TTM Technologies 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 $14.81 and $15.01. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, March 18, 2024, and so far it has risen 11.33%. 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 TTM Technologies stock
On the downside, the stock finds support just below today's level from accumulated volume at $14.46 and $14.16. 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, TTM Technologies finds support just below today's level at $14.46. If this is broken, then the next support from accumulated volume will be at $14.16 and $14.08.
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 $0.485 between high and low, or 3.22%. For the last week, the stock has had daily average volatility of 4.04%.
Our recommended stop-loss: $14.93 (-3.86%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 7 days ago.)
Trading Expectations (TTMI) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect TTM Technologies to open at $15.38, and during the day (based on 14 day Average True Range), to move between $15.08 and $15.98, which gives a possible trading interval of +/-$0.450 (+/-2.90%) up or down from last closing price. If TTM Technologies takes out the full calculated possible swing range there will be an estimated 5.80% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $15.74 (1.35%) than the support at $14.46 (6.89%), 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 TTM Technologies stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for TTM Technologies stock to perform well in the short-term period.
Current score: 2.416 Buy Candidate Unchanged
Predicted Opening Price for TTM Technologies of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$15.38 ( 0.96%) | $15.53 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TTMI
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 15.87 | 2.17 % | |
R2 | 15.68 | 0.97 % | ||
R1 | 15.57 | 0.238 % | ||
Current price: | 15.53 | |||
Support | S1 | 15.20 | -2.15 % | |
S2 | 15.08 | -2.89 % | ||
S3 | 14.90 | -4.08 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 16.30 | 4.96 % | |
R2 | 16.12 | 3.80 % | ||
R1 | 15.74 | 1.35 % | ||
Current price | 15.53 | |||
Support | S1 | 14.46 | -6.89% | |
S2 | 14.16 | -8.82% | ||
S3 | 14.08 | -9.34% |
FAQ
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