TransAlta Corporation Forecast and Stock Analysis
Technical TAC stock analysis for Friday May 24, 2019.
|Shorts||4.56% ( 2019-04-15 )|
|Price to book||USD 1.27|
|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.
- 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.
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.
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.
Relative Strength Index (RSI)
RSI14 is 38 and the stock is currently not being overbought or oversold
Support & Resistance
TransAlta Corporation finds support from accumulated volume at $6.30.
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
Very Low Low Medium High Very High
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.
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|TAC $6.48 ($0.05 0.78%)|
TAC is up $0.05 today, but where's it headed in 2019?
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