Thoughtworks Holding, Inc. Stock Forecast
Red day on Tuesday for Thoughtworks Holding, Inc.
(Updated on Apr 30, 2024)
The Thoughtworks Holding, Inc. stock price fell by -1.69% on the last day (Tuesday, 30th Apr 2024) from $2.36 to $2.32. During the last trading day the stock fluctuated 3.66% from a day low at $2.32 to a day high of $2.41. The price has fallen in 6 of the last 10 days but is still up by 2.2% 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 -19 thousand shares and in total, 412 thousand shares were bought and sold for approximately $955.09 thousand.
The stock lies in the middle of a very 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 -50.08% during the next 3 months and, with a 90% probability hold a price between $0.82 and $1.33 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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TWKS Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 2.65%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Thoughtworks Holding, Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $2.37 and $2.40. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Thoughtworks Holding, Inc. stock
Thoughtworks Holding, Inc. finds support from accumulated volume at $2.29 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0850 between high and low, or 3.66%. For the last week the stock has had daily average volatility of 4.10%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (TWKS) For The Upcoming Trading Day Of Wednesday 1st
For the upcoming trading day on Wednesday, 1st we expect Thoughtworks Holding, Inc. to open at $2.35, and during the day (based on 14 day Average True Range), to move between $2.20 and $2.44, which gives a possible trading interval of +/-$0.120 (+/-5.16%) up or down from last closing price. If Thoughtworks Holding, Inc. takes out the full calculated possible swing range there will be an estimated 10.32% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $2.29 (1.29%) than the resistance at $2.50 (7.76%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Thoughtworks Holding, Inc. will release earnings BMO on Tuesday, May 07, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.0200. We will update the financials statements for Thoughtworks Holding, Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 16.29% in the first trading day after earnings release.
Is Thoughtworks Holding, Inc. stock A Buy?
Thoughtworks Holding, Inc. holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -3.295 Sell Candidate Unchanged
Predicted Opening Price for Thoughtworks Holding, Inc. of Wednesday, May 1, 2024
| Fair opening price May 1, 2024 | Current price |
|---|---|
| $2.35 ( 1.22%) | $2.32 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TWKS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.43 | 4.89 % | |
| R2 | 2.40 | 3.49 % | ||
| R1 | 2.38 | 2.62 % | ||
| Current price: | 2.32 | |||
| Support | S1 | 2.32 | -0.178 % | |
| S2 | 2.30 | -1.04 % | ||
| S3 | 2.26 | -2.44 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.57 | 10.78 % | |
| R2 | 2.53 | 9.05 % | ||
| R1 | 2.50 | 7.76 % | ||
| Current price | 2.32 | |||
| Support | S1 | 2.29 | -1.29% | |
| S2 | 2.27 | -2.16% | ||
| S3 | 2.26 | -2.59% |
FAQ
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