TOWER Ltd Stock Forecast

TOWER Ltd stock upgraded from Buy Candidate to Strong Buy Candidate after Friday trading session.
(Updated on Jun 21, 2024)

TWR.AX Signals & Forecast

The TOWER Ltd 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 A$0.772 and A$0.747. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, May 16, 2024, and so far it has risen 15.71%. Further rise is indicated until a new top pivot has been found. TOWER Ltd has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The stock had a Golden Star Signal on Monday, August 07, 2023 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for TOWER Ltd stock

TOWER Ltd finds support from accumulated volume at A$0.785 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved A$0.0400 (5.19%) between high and low. For the last week, the stock has had daily average volatility of 2.30%.

Our recommended stop-loss: A$0.780 (-3.76%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 43 days ago.)

Trading Expectations (TWR.AX) For The Upcoming Trading Day Of Monday 24th

For the upcoming trading day on Monday, 24th we expect TOWER Ltd to open at A$0.797, and during the day (based on 14 day Average True Range), to move between A$0.790 and A$0.83, which gives a possible trading interval of +/-A$0.0203 (+/-2.50%) up or down from last closing price. If TOWER Ltd takes out the full calculated possible swing range there will be an estimated 5.00% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ A$0.785, some A$0.0250 (3.09%) from the current price of A$0.81, our system finds the risk reward attractive.

Is TOWER Ltd stock A Buy?

TOWER Ltd holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". 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: 6.792 Strong Buy Candidate Upgraded

Predicted Opening Price for TOWER Ltd of Monday, June 24, 2024

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