TransAlta Corporation Forecast and Stock Analysis
Technical TAC stock analysis for March 22, 2019.
|Shorts||1.79% ( 2019-02-28 )|
TransAlta Corporation fell by -1.17% in the last day from $6.83 to $6.75 and has now fallen 3 days in a row. The price has risen in 6 of the last 10 days and is up by 11.2% over the past 2 weeks. Volume fell in the last day along with the stock, which is actually a good sign as volume should follow the stock. In the last day the trading volume fell by -9 918 shares and in total 134 210 shares bought and sold for approximately $905 918.00.
Close price at the end of the last trading day (Friday, 22nd Mar 2019) of the TAC stock was $6.75. This is 1.17% less than the trading day before Thursday, 21st Mar 2019.
During day the stock fluctuated 2.40% from a day low at $6.68 to a day high of $6.84.
30 day high of the TAC stock price was $6.95 and low was $5.64.
90 day high was $6.95 and low was $3.99.
52 week high for the TransAlta Corporation - $6.95 and low - $3.99.
TransAlta Corporation lies in the middle of a strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 54.16% during the next 3 months and, with 90% probability hold a price between $10.04 and $10.95 at the end of this period.
TransAlta Corporation holds buy signals from both short- and long-term moving averages. In addition, 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 $6.62 and $6.00. A break down below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sales signal was issued from a pivot top point on Wednesday March 20, 2019, which indicates further falls 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.
Relative Strength Index (RSI)
The stock holds a RSI14 at 75 and is currently being overbought on RSI. This does not have to be a sales signal as many stocks may go both long and hard while being overbought on the RSI. It is therefore important to evaluate the history of the share as it may tell you something about the RSI-sensitiveness.
Support & Resistance
TransAlta Corporation finds support from accumulated volume at $6.66.
This stock may move much during a day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.16 between high and low, or 2.40%. For the last week the stock has had a daily average volatility of 3.75%.
Our recommended stoploss: $6.43 (-4.76%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 75 and this increases the risk substantially. There is a sell signal from pivot top found 2 days ago.)
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Evaluation: Buy Candidate
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 this stock to perform well in the short-term.