TriNet Group Inc Stock Forecast
Green day on Wednesday for TriNet Group Inc
(Updated on Mar 27, 2024)
The TriNet Group Inc stock price gained 0.456% on the last trading day (Wednesday, 27th Mar 2024), rising from $131.66 to $132.26. During the last trading day the stock fluctuated 1.46% from a day low at $131.56 to a day high of $133.48. The price has risen in 6 of the last 10 days and is up by 4.77% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 7 thousand more shares were traded than the day before. In total, 136 thousand shares were bought and sold for approximately $18.00 million.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 13.98% during the next 3 months and, with a 90% probability hold a price between $136.71 and $156.14 at the end of this 3-month period.
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TNET Signals & Forecast
Mostly positive signals in the chart today. The TriNet Group 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 $131.15 and $124.74. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, March 11, 2024, and so far it has risen 7.33%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for TriNet Group Inc stock
TriNet Group Inc finds support from accumulated volume at $127.18 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $1.92 (1.46%) between high and low. For the last week, the stock has had daily average volatility of 1.30%.
Our recommended stop-loss: $126.46 (-4.39%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 12 days ago.)
Trading Expectations (TNET) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect TriNet Group Inc to open at $132.43, and during the day (based on 14 day Average True Range), to move between $129.73 and $134.79, which gives a possible trading interval of +/-$2.53 (+/-1.92%) up or down from last closing price. If TriNet Group Inc takes out the full calculated possible swing range there will be an estimated 3.83% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $127.18, some $5.08 (3.84%) from the current price of $132.26, our system finds the risk reward attractive.
Is TriNet Group Inc stock A Buy?
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 TriNet Group Inc stock to perform well in the short-term.
Current score: 4.824 Buy Candidate Unchanged
Predicted Opening Price for TriNet Group Inc of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$132.43 ( 0.130%) | $132.26 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TNET
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 134.36 | 1.59 % | |
R2 | 133.62 | 1.03 % | ||
R1 | 133.17 | 0.686 % | ||
Current price: | 132.26 | |||
Support | S1 | 131.70 | -0.426 % | |
S2 | 131.24 | -0.770 % | ||
S3 | 130.51 | -1.33 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 132.26 | |||
Support | S1 | 127.18 | -3.84% | |
S2 | 123.24 | -6.82% | ||
S3 | 114.91 | -13.12% |
TNET Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 28, 2024 | Mar 28, 2024 | Apr 22, 2024 | $0.250 | 0.189% |
FAQ
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