TransAtlantic Petroleum Ltd Forecast and Stock Analysis
Technical TAT stock analysis for February 15, 2019.
|Shorts||0.67% ( 2019-01-31 )|
TransAtlantic Petroleum Ltd gained 4.35% in the last trading day, rising from $1.15 to $1.20 The price has been going up and down for this period, and there has been a -2.44% loss for the last 2 weeks. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 11 807 more shares were traded than the day before. In total, 45 516 shares bought and sold for approximately $54 619.20.
Close price at the end of the last trading day (Friday, 15th Feb 2019) of the TAT stock was $1.20. This is 4.35% more than the trading day before Thursday, 14th Feb 2019.
During day the stock fluctuated 7.76% from a day low at $1.16 to a day high of $1.25.
30 day high of the TAT stock price was $1.43 and low was $1.06.
90 day high was $1.43 and low was $0.95.
52 week high for the TransAtlantic Petroleum Ltd - $2.17 and low - $0.65.
TransAtlantic Petroleum Ltd lies in the lower part of a wide and strong rising trend in the short term, and this will normally pose a very good buying opportunity. A break down the bottom trend line at $1.15 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 24.15% during the next 3 months and, with 90% probability hold a price between $1.42 and $1.76 at the end of this period.
Only positive signals in the chart today. TransAtlantic Petroleum Ltd holds a sales signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock. On further gains, the stock will meet resistance from the short-term moving average at approximately $1.20. On a fall, the stock will find some support from the long-term average at approximately $1.17. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sales signal. A buy signal was issued from a pivot bottom point on Thursday February 14, 2019, which indicates further gains until a new top pivot has been found. TransAtlantic Petroleum Ltd has rising volume and follows the last lift in the price. This 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.
Relative Strength Index (RSI)
RSI14 is 43 and the stock is currently not being overbought or oversold
Support & Resistance
On the downside, the stock finds support just below today's level from accumulated volume at $1.04 and $1.02.
There is natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, TransAtlantic Petroleum Ltd finds support just below today's level at $1.04. If this is broken, then the next support from accumulated volume will be at $1.02 and $1.00.
This stock may move much during a day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.09 between high and low, or 7.76%. For the last week, the stock has had a daily average volatility of 5.38%.
Our recommended stoploss: $1.14 (-5.15%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from pivot bottom found 1 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. We have upgraded our recommendation for this stock since last evaluation from a Strong Sell Candidate to a Buy Candidate.