Titomic Limited Stock Forecast
Volatile ride for Titomic Limited stock price on Thursday moving between $0.0710 and $0.0810
(Updated on May 09, 2024)
The Titomic Limited stock price gained 15.71% on the last trading day (Thursday, 9th May 2024), rising from $0.0700 to $0.0810. During the last trading day the stock fluctuated 14.08% from a day low at $0.0710 to a day high of $0.0810. The price has risen in 6 of the last 10 days and is up by 52.83% over the past 2 weeks. Volume fell on the last day by -5 million shares and in total, 3 million shares were bought and sold for approximately $214.80 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock has broken the very wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $0.0805, a level that may pose a second chance to hit a runner. According to fan-theory $0.102 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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TTT.AX Signals & Forecast
The Titomic Limited 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 $0.0671 and $0.0595. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 65.31%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for Titomic Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0760 and $0.0700. 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, Titomic Limited finds support just below today's level at $0.0760. If this is broken, then the next support from accumulated volume will be at $0.0700 and $0.0650.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0100 between high and low, or 14.08%. For the last week the stock has had daily average volatility of 19.33%.
Our recommended stop-loss: $0.0785 (-3.08%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (TTT.AX) For The Upcoming Trading Day Of Friday 10th
For the upcoming trading day on Friday, 10th we expect Titomic Limited to open at $0.0777, and during the day (based on 14 day Average True Range), to move between $0.0731 and $0.0889, which gives a possible trading interval of +/-$0.0079 (+/-9.78%) up or down from last closing price. If Titomic Limited takes out the full calculated possible swing range there will be an estimated 19.56% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $0.0760, some $0.0050 (6.17%) from the current price of $0.0810, our system finds the risk reward attractive.
Is Titomic Limited stock A Buy?
Titomic Limited holds several positive signals and has broken the strong rising trend up. As the stock is also in great technical shape we, therefore, consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 8.906 Strong Buy Candidate Upgraded
Predicted Opening Price for Titomic Limited of Friday, May 10, 2024
| Fair opening price May 10, 2024 | Current price |
|---|---|
| $0.0777 ( 4.12%) | $0.0810 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TTT.AX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0877 | 8.23 % | |
| R2 | 0.0838 | 3.51 % | ||
| R1 | 0.0815 | 0.601 % | ||
| Current price: | 0.0810 | |||
| Support | S1 | 0.0738 | -8.83 % | |
| S2 | 0.0715 | -11.74 % | ||
| S3 | 0.0677 | -16.46 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 0.0810 | |||
| Support | S1 | 0.0760 | -6.17% | |
| S2 | 0.0700 | -13.58% | ||
| S3 | 0.0650 | -19.75% |
FAQ
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