Friday May 24, 2019 Change 0.78% Price $6.48
Chart period: 2019-02-25 - 2019-05-24
VOLUME
Sell
TREND
Buy
MV LONG
Sell

MV SHORT
Sell

PIVOT
Buy

MACD
Buy

Will TAC stock price go up or down on Tue, 28 May 2019?

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TransAlta Corporation Forecast and Stock Analysis

Technical TAC stock analysis for Friday May 24, 2019.

Sell candidate since 2019-05-23 Gain 0.78%
Shorts 4.56% ( 2019-04-15 )
Insider % n/a
Institutional % 90.50%
Beta 0.49
ROA -4.04%
Price to book USD 1.27
P/E Ratio -6.45
Next Earnings Date 2019-08-05


TransAlta Corporation gained 0.78% in the last trading day ( Friday, 24th May 2019 ), rising from $6.43 to $6.48 During day the stock fluctuated 2.19% from a day low at $6.40 to a day high of $6.54. The price has fallen in 5 of the last 10 days and is down by -4% for this period. Volume fell in the last day by -26 364 shares, and in total, 85 005 shares bought and sold for approximately $550 832.00. You should take into consideration that a falling volume on higher prices causes divergence and may be an early warning about possible changes for the next couple of days.

Quick summary:

  • 30 day high of the TAC stock price was $6.91 and low was $6.32.
  • 90 day high was $7.61 and low was $5.64.
  • 52 week high for the TransAlta Corporation - $7.61 and low - $3.99.

Trend

TransAlta Corporation lies in the lower part of a wide and weak rising trend in the short term, and this will normally pose a very good buying opportunity. A break down the bottom trend line at $6.42 will firstly indicate a slower raising rate, but may also be a early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 6.22% during the next 3 months and, with 90% probability hold a price between $6.82 and $8.24 at the end of this period.

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Signals

A buy signal was issued from a pivot bottom point on Thursday May 23, 2019, which indicates further gains 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. TransAlta Corporation holds sales signals from both short- and long-term moving averages. In addition, there is a general sales 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 $6.50 and $6.85. A break-up above any of these levels will issue buy signals. 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.

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A buy signal from a double bottom formation was found on Thursday May 23, 2019 and based on theory for this formation the price should go up by 0.20% to $6.60 within 3 trading days since signal was issued (Wednesday May 29, 2019).

Relative Strength Index (RSI)

RSI14 is 38 and the stock is currently not being overbought or oversold

Access full RSI 14 and RSI 21 lists

Support & Resistance

TransAlta Corporation finds support from accumulated volume at $6.30.

Support: $6.30 Price: $6.48 Resistance: $6.66

Risk

In general the stock tends to have controlled movements, but the low liquidity has increased the risk substantially.

Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.

3.29 %

Average volatility

Overall risk:

Very Low Low Medium High Very High

Evaluation:

The TransAlta Corporation stock holds several negative signals and despite the positive trend we believe TransAlta Corporation will perform weak in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. We have upgraded our recommendation for this stock since last evaluation from a Strong Sell Candidate to a Sell Candidate.

Sell Candidate Upgraded
Stronger Sell Today TAC ranks #2678 as SELL CANDIDATE #2678 Weaker Sell
TAC $6.48 ($0.05 0.78%)
TAC is up $0.05 today, but where's it headed in 2019?
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Will TAC stock price go up or down
on Tue, 28 May 2019?

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