True North Commercial REIT Stock Forecast
Weaker technical forecast for True North Commercial REIT as stock downgraded to Sell Candidate.
(Updated on Mar 27, 2024)
The True North Commercial REIT stock price gained 1.89% on the last trading day (Wednesday, 27th Mar 2024), rising from $9.00 to $9.17. During the last trading day the stock fluctuated 2.56% from a day low at $9.00 to a day high of $9.23. The price has been going up and down for this period, and there has been a -0.43% loss 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, 11 thousand more shares were traded than the day before. In total, 29 thousand shares were bought and sold for approximately $267.82 thousand.
The stockhas broken the wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $9.07, a level that may pose a second chance to hit a runner. According to fan-theory $10.41 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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TNT-UN.TO Signals & Forecast
The True North Commercial REIT 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 $9.06 and $8.87. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). True North Commercial REIT 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 Tuesday, March 12, 2024, and so far it has fallen -1.29%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for True North Commercial REIT stock
True North Commercial REIT finds support from accumulated volume at $9.05 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.230 between high and low, or 2.56%. For the last week, the stock has had daily average volatility of 2.53%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (TNT-UN.TO) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect True North Commercial REIT to open at $9.13, and during the day (based on 14 day Average True Range), to move between $8.89 and $9.45, which gives a possible trading interval of +/-$0.284 (+/-3.09%) up or down from last closing price. If True North Commercial REIT takes out the full calculated possible swing range there will be an estimated 6.19% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $9.29 (1.31%) than the support at $9.05 (1.31%), 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 True North Commercial REIT stock A Buy?
True North Commercial REIT holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.711 Sell Candidate Downgraded
Predicted Opening Price for True North Commercial REIT of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$9.13 ( 0.400%) | $9.17 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TNT-UN.TO
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 9.36 | 2.11 % | |
R2 | 9.28 | 1.15 % | ||
R1 | 9.22 | 0.558 % | ||
Current price: | 9.17 | |||
Support | S1 | 9.05 | -1.36 % | |
S2 | 8.99 | -1.95 % | ||
S3 | 8.90 | -2.91 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 10.24 | 11.67 % | |
R2 | 10.06 | 9.71 % | ||
R1 | 9.29 | 1.31 % | ||
Current price | 9.17 | |||
Support | S1 | 9.05 | -1.31% | |
S2 | 9.00 | -1.85% | ||
S3 | 8.32 | -9.27% |
TNT-UN Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Oct 30, 2023 | Oct 30, 2023 | Nov 15, 2023 | $0.0248 | 0.325% |
2 | Sep 28, 2023 | Sep 28, 2023 | Oct 16, 2023 | $0.0250 | 0.205% |
3 | Aug 30, 2023 | Aug 30, 2023 | Sep 15, 2023 | $0.0250 | 0.176% |
4 | Jul 28, 2023 | Jul 28, 2023 | Aug 15, 2023 | $0.0250 | 0.177% |
5 | Jun 29, 2023 | Jun 29, 2023 | Jul 17, 2023 | $0.0250 | 0.172% |
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