Titomic Limited Stock Forecast
Volatile ride for Titomic Limited stock price on Monday moving between $0.0880 and $0.105
(Updated on May 20, 2024)
The Titomic Limited stock price fell by -2.08% on the last day (Monday, 20th May 2024) from $0.0960 to $0.0940. During the last trading day the stock fluctuated 19.32% from a day low at $0.0880 to a day high of $0.105. The price has risen in 7 of the last 10 days and is up by 51.61% over the past 2 weeks. 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 -558 thousand shares and in total, 5 million shares were bought and sold for approximately $451.89 thousand.
The stock lies in the upper part of a very wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $0.0970 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 151.69% during the next 3 months and, with a 90% probability hold a price between $0.172 and $0.244 at the end of this 3-month period.
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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 $0.0904 and $0.0674. 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 Friday, May 17, 2024, and so far it has fallen -2.08%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Titomic Limited stock
Titomic Limited finds support from accumulated volume at $0.0920 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.0170 between high and low, or 19.32%. For the last week the stock has had daily average volatility of 12.90%.
Our recommended stop-loss: $0.0907 (-3.54%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 20 days ago.)
Trading Expectations (TTT.AX) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Titomic Limited to open at $0.0957, and during the day (based on 14 day Average True Range), to move between $0.0849 and $0.103, which gives a possible trading interval of +/-$0.0091 (+/-9.69%) up or down from last closing price. If Titomic Limited takes out the full calculated possible swing range there will be an estimated 19.38% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0960 (2.13%) than the support at $0.0920 (2.13%), 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 Titomic Limited 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 Titomic Limited 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: 1.604 Buy Candidate Upgraded
Predicted Opening Price for Titomic Limited of Tuesday, May 21, 2024
Fair opening price May 21, 2024 | Current price |
---|---|
$0.0957 ( 1.77%) | $0.0940 |
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 | 0.113 | 19.86 % | |
R2 | 0.106 | 12.95 % | ||
R1 | 0.102 | 8.68 % | ||
Current price: | 0.0940 | |||
Support | S1 | 0.0892 | -5.14 % | |
S2 | 0.0852 | -9.40 % | ||
S3 | 0.0787 | -16.31 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0.0960 | 2.13 % | ||
Current price | 0.0940 | |||
Support | S1 | 0.0920 | -2.13% | |
S2 | 0.0840 | -10.64% | ||
S3 | 0.0760 | -19.15% |
FAQ
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