Turning Point Brands Inc Stock Forecast
Turning Point Brands Inc stock upgraded from Buy Candidate to Strong Buy Candidate after Tuesday trading session.
(Updated on Apr 30, 2024)
The Turning Point Brands Inc stock price gained 1.51% on the last trading day (Tuesday, 30th Apr 2024), rising from $28.41 to $28.84. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.97% from a day low at $28.27 to a day high of $29.11. The price has risen in 7 of the last 10 days and is up by 6.07% 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, 19 thousand more shares were traded than the day before. In total, 73 thousand shares were bought and sold for approximately $2.10 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 23.93% during the next 3 months and, with a 90% probability hold a price between $33.53 and $38.98 at the end of this 3-month period.
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TPB Signals & Forecast
The Turning Point Brands 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 $28.14 and $28.04. 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). Volume is rising along with the price. This is considered to be a good technical signal. 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 Thursday, March 28, 2024, and so far it has fallen -1.57%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Turning Point Brands Inc stock
Turning Point Brands Inc finds support from accumulated volume at $27.65 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 $0.84 (2.97%) between high and low. For the last week, the stock has had daily average volatility of 2.12%.
Our recommended stop-loss: $27.74 (-3.80%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 22 days ago.)
Trading Expectations (TPB) For The Upcoming Trading Day Of Wednesday 1st
For the upcoming trading day on Wednesday, 1st we expect Turning Point Brands Inc to open at $28.74, and during the day (based on 14 day Average True Range), to move between $28.16 and $29.52, which gives a possible trading interval of +/-$0.676 (+/-2.34%) up or down from last closing price. If Turning Point Brands Inc takes out the full calculated possible swing range there will be an estimated 4.69% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $29.12 (0.97%) than the support at $27.65 (4.13%), 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.
Earnings coming up
Turning Point Brands Inc will release earnings BMO on Thursday, May 02, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.670. We will update the financials statements for Turning Point Brands Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 11.74% in the first trading day after earnings release.
Is Turning Point Brands Inc stock A Buy?
Turning Point Brands Inc holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.672 Strong Buy Candidate Upgraded
Predicted Opening Price for Turning Point Brands Inc of Wednesday, May 1, 2024
| Fair opening price May 1, 2024 | Current price |
|---|---|
| $28.74 ( 0.347%) | $28.84 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TPB
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 29.58 | 2.57 % | |
| R2 | 29.26 | 1.45 % | ||
| R1 | 29.06 | 0.766 % | ||
| Current price: | 28.84 | |||
| Support | S1 | 28.42 | -1.46 % | |
| S2 | 28.22 | -2.15 % | ||
| S3 | 27.90 | -3.26 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 29.30 | 1.60 % | |
| R2 | 29.26 | 1.46 % | ||
| R1 | 29.12 | 0.97 % | ||
| Current price | 28.84 | |||
| Support | S1 | 27.65 | -4.13% | |
| S2 | 24.69 | -14.39% | ||
| S3 | 22.94 | -20.46% |
TPB Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 28, 2024 | Mar 21, 2024 | Apr 12, 2024 | $0.0700 | 0.260% |
| 2 | Nov 01, 2023 | Dec 14, 2023 | Jan 05, 2024 | $0.0700 | 0.272% |
| 3 | Aug 02, 2023 | Sep 14, 2023 | Oct 06, 2023 | $0.0650 | 0.285% |
| 4 | May 03, 2023 | Jun 15, 2023 | Jul 07, 2023 | $0.0650 | 0.272% |
| 5 | Feb 23, 2023 | Mar 16, 2023 | Apr 07, 2023 | $0.0650 | 0.313% |
FAQ
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