TPI Composites Inc Stock Forecast
High volatility in TPI Composites Inc stock price on Wednesday which ended trading at $2.47
(Updated on Apr 24, 2024)
The TPI Composites Inc stock price fell by -4.63% on the last day (Wednesday, 24th Apr 2024) from $2.59 to $2.47. During the last trading day the stock fluctuated 10.70% from a day low at $2.43 to a day high of $2.69. The price has risen in 6 of the last 10 days but is still down by -4.26% for this period. Volume has increased on the last day by 290 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 1 million shares were bought and sold for approximately $3.47 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -5.61% during the next 3 months and, with a 90% probability hold a price between $2.05 and $3.13 at the end of this 3-month period.
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TPIC Signals & Forecast
There are few to no technical positive signals at the moment. The TPI Composites Inc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $2.63 and $2.78. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, March 08, 2024, and so far it has fallen -27.78%. 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). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for TPI Composites Inc stock
TPI Composites Inc finds support from accumulated volume at $2.35 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 $0.260 between high and low, or 10.70%. For the last week, the stock has had daily average volatility of 8.42%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (TPIC) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect TPI Composites Inc to open at $2.53, and during the day (based on 14 day Average True Range), to move between $2.26 and $2.68, which gives a possible trading interval of +/-$0.213 (+/-8.64%) up or down from last closing price. If TPI Composites Inc takes out the full calculated possible swing range there will be an estimated 17.27% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $2.35 (4.86%) than the resistance at $2.68 (8.50%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
TPI Composites Inc will release earnings BMO on Thursday, May 02, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.680. We will update the financials statements for TPI Composites Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 7.16% in the first trading day after earnings release.
Is TPI Composites Inc stock A Buy?
TPI Composites Inc holds several negative signals and is within a very wide and falling trend, so we believe 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: -3.079 Sell Candidate Downgraded
Predicted Opening Price for TPI Composites Inc of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $2.53 ( 2.43%) | $2.47 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TPIC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.79 | 12.96 % | |
| R2 | 2.69 | 8.93 % | ||
| R1 | 2.63 | 6.45 % | ||
| Current price: | 2.47 | |||
| Support | S1 | 2.43 | -1.59 % | |
| S2 | 2.37 | -4.08 % | ||
| S3 | 2.27 | -8.10 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.99 | 21.05 % | |
| R2 | 2.70 | 9.31 % | ||
| R1 | 2.68 | 8.50 % | ||
| Current price | 2.47 | |||
| Support | S1 | 2.35 | -4.86% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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