Turning Point Brands Inc Forecast and Stock Analysis
Technical TPB stock analysis for February 15, 2019.
|Shorts||3.50% ( 2019-01-31 )|
Turning Point Brands Inc gained 1.02% in the last trading day, rising from $38.37 to $38.76 The price has been going up and down for this period, and there has been a 6.08% gain for the last 2 weeks. Volume fell in the last day by -55 992 shares, and in total, 49 562 shares bought and sold for approximately $1.92 million. You should take into consideration that a falling volume on higher prices causes divergence and may be an early warning about possible changes for the next couple of days.
Close price at the end of the last trading day (Friday, 15th Feb 2019) of the TPB stock was $38.76. This is 1.02% more than the trading day before Thursday, 14th Feb 2019.
During day the stock fluctuated 1.09% from a day low at $38.56 to a day high of $38.98.
30 day high of the TPB stock price was $38.98 and low was $30.86.
90 day high was $38.98 and low was $26.39.
52 week high for the Turning Point Brands Inc - $47.00 and low - $19.11.
Turning Point Brands Inc has broken the wide and strong rising the short-term trend up and an even stronger rising rate is indicated. For any reaction back there will now be support on the roof on the current trend broken at $37.75, a level that may pose a second chance to hit a runner. According to fan-theory $44.41 will be the next possible trend-top level and thereby pose a resistance level which may not be broken at the first attempt.
Only positive signals in the chart today. Turning Point Brands Inc holds buy signals from both short- and long-term moving averages. In addition, 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 $37.55 and $32.60. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday February 07, 2019, which indicates further gains until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and may be an early warning. The stock should be watched closely.
Relative Strength Index (RSI)
The stock holds a RSI14 at 79 and is currently being overbought on RSI. This does not have to be a sales signal as many stocks may go both long and hard while being overbought on the RSI. It is therefore important to evaluate the history of the share as it may tell you something about the RSI-sensitiveness.
Support & Resistance
On the downside, the stock finds support just below today's level from accumulated volume at $32.13 and $29.80.
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, Turning Point Brands Inc finds support just below today's level at $32.13. If this is broken, then the next support from accumulated volume will be at $29.80 and $29.37.
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 $0.42 between high and low, or 1.09%. For the last week, the stock has had a daily average volatility of 1.96%.
The stock is extremely overbought on RSI14 (79). Normally this will pose a good selling opportunity, but since the stock has broken the trend up the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Our recommended stoploss: $37.33 (-3.70%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 79 and this increases the risk substantially. There is a buy signal from pivot bottom found 6 days ago.)
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Evaluation: Buy Candidate
Several short-term signals, along with a general good trend, are positive and the stock has broken the rising trend up, which indicates an even stronger rising rate. We can 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 period. Due to a possible false trend-break a pure Buy Recommendation is held back.