Taro Pharmaceutical Industries Ltd Stock Forecast
Taro Pharmaceutical Industries Ltd stock upgraded to Buy Candidate.
(Updated on Apr 25, 2024)
The Taro Pharmaceutical Industries Ltd stock price gained 0.664% on the last trading day (Thursday, 25th Apr 2024), rising from $42.20 to $42.48. During the last trading day the stock fluctuated 0.85% from a day low at $42.13 to a day high of $42.49. The price has been going up and down for this period, and there has been a 0.83% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 8 thousand more shares were traded than the day before. In total, 27 thousand shares were bought and sold for approximately $1.15 million.
The stockis at the upper part of a horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $42.76 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Taro Pharmaceutical Industries Ltd stock with a 90% probability to be traded between $40.19 and $42.24 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners. 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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TARO Signals & Forecast
Mostly positive signals in the chart today. The Taro Pharmaceutical Industries 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 $42.26 and $42.16. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, March 06, 2024, and so far it has risen 3.69%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Taro Pharmaceutical Industries 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. Higher liquidity also reduces the general risk. The stock had a Golden Star Signal on Tuesday, March 26, 2024 in the short-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.
Golden Star
The stock had a Golden Star Signal on Tuesday, March 26, 2024 in the short-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 Taro Pharmaceutical Industries Ltd stock
Taro Pharmaceutical Industries Ltd finds support from accumulated volume at $42.13 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.360 between high and low, or 0.85%. For the last week the stock has had daily average volatility of 0.467%.
Our recommended stop-loss: $39.44 (-7.17%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 35 days ago.)
Trading Expectations (TARO) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Taro Pharmaceutical Industries Ltd to open at $42.37, and during the day (based on 14 day Average True Range), to move between $42.22 and $42.74, which gives a possible trading interval of +/-$0.257 (+/-0.60%) up or down from last closing price. If Taro Pharmaceutical Industries Ltd takes out the full calculated possible swing range there will be an estimated 1.21% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $42.13 (0.82%) than the resistance at $43.05 (1.34%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Taro Pharmaceutical Industries Ltd stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Taro Pharmaceutical Industries Ltd stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 2.361 Buy Candidate Upgraded
Predicted Opening Price for Taro Pharmaceutical Industries Ltd of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $42.37 ( 0.267%) | $42.48 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TARO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 42.73 | 0.581 % | |
| R2 | 42.59 | 0.257 % | ||
| R1 | 42.50 | 0.0569 % | ||
| Current price: | 42.48 | |||
| Support | S1 | 42.23 | -0.591 % | |
| S2 | 42.14 | -0.791 % | ||
| S3 | 42.01 | -1.11 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 43.28 | 1.88 % | |
| R2 | 43.08 | 1.41 % | ||
| R1 | 43.05 | 1.34 % | ||
| Current price | 42.48 | |||
| Support | S1 | 42.13 | -0.82% | |
| S2 | 42.12 | -0.85% | ||
| S3 | 40.97 | -3.55% |
TARO Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Nov 05, 2018 | Dec 10, 2018 | Dec 28, 2018 | $12.81 | 15.12% |
FAQ
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