Templeton Dragon Fund Inc Stock Forecast
Green day on Monday for Templeton Dragon Fund Inc stock after gaining 0.695%
(Updated on Mar 18, 2024)
The Templeton Dragon Fund Inc stock price gained 0.695% on the last trading day (Monday, 18th Mar 2024), rising from $7.92 to $7.97. During the last trading day the stock fluctuated 0.597% from a day low at $7.95 to a day high of $8.00. The price has been going up and down for this period, and there has been a 2.57% 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, 46 thousand more shares were traded than the day before. In total, 60 thousand shares were bought and sold for approximately $481.06 thousand.
The stockis at the upper part of a wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $8.04 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Templeton Dragon Fund Inc stock with a 90% probability to be traded between $7.13 and $7.95 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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TDF Signals & Forecast
The Templeton Dragon Fund Inc 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 $7.93 and $7.71. A breakdown below any of these levels will issue sell signals. Templeton Dragon Fund Inc 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, March 13, 2024, and so far it has fallen -0.87%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Templeton Dragon Fund Inc stock
Templeton Dragon Fund Inc finds support from accumulated volume at $7.75 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 $0.0475 between high and low, or 0.597%. For the last week the stock has had daily average volatility of 1.39%.
Our recommended stop-loss: $7.63 (-4.24%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 3 days ago.)
Trading Expectations (TDF) For The Upcoming Trading Day Of Tuesday 19th
For the upcoming trading day on Tuesday, 19th we expect Templeton Dragon Fund Inc to open at $7.97, and during the day (based on 14 day Average True Range), to move between $7.85 and $8.09, which gives a possible trading interval of +/-$0.123 (+/-1.54%) up or down from last closing price. If Templeton Dragon Fund Inc takes out the full calculated possible swing range there will be an estimated 3.09% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $7.99 (0.25%) than the support at $7.75 (2.76%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Templeton Dragon Fund Inc stock A Buy?
Templeton Dragon Fund Inc holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.591 Hold/Accumulate Unchanged
Predicted Opening Price for Templeton Dragon Fund Inc of Tuesday, March 19, 2024
Fair opening price March 19, 2024 | Current price |
---|---|
$7.97 ( 0.0523%) | $7.97 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TDF
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 8.02 | 0.648 % | |
R2 | 8.00 | 0.421 % | ||
R1 | 7.99 | 0.280 % | ||
Current price: | 7.97 | |||
Support | S1 | 7.96 | -0.175 % | |
S2 | 7.94 | -0.316 % | ||
S3 | 7.93 | -0.544 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 8.17 | 2.51 % | |
R2 | 8.08 | 1.38 % | ||
R1 | 7.99 | 0.251 % | ||
Current price | 7.97 | |||
Support | S1 | 7.75 | -2.76% | |
S2 | 7.70 | -3.39% | ||
S3 | 7.31 | -8.28% |
TDF Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Aug 08, 2022 | Aug 12, 2022 | Dec 31, 2018 | $1.30 | 7.65% |
2 | Aug 23, 2021 | Sep 02, 2021 | Sep 20, 2021 | $2.40 | 13.36% |
3 | Dec 03, 2020 | Dec 14, 2020 | Dec 31, 2020 | $3.20 | 13.69% |
4 | Aug 24, 2020 | Sep 03, 2020 | Sep 21, 2020 | $2.58 | 11.66% |
5 | Dec 04, 2019 | Dec 13, 2019 | Dec 31, 2019 | $0.680 | 3.50% |
FAQ
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