TPI Composites Inc Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
TPI Composites Inc stock price ended at $2.68 on Friday, after losing 0.372%.
(Updated on Apr 19, 2024)
The TPI Composites Inc stock price fell by -0.372% on the last day (Friday, 19th Apr 2024) from $2.69 to $2.68. During the last trading day the stock fluctuated 5.43% from a day low at $2.58 to a day high of $2.72. The price has risen in 6 of the last 10 days but is still down by -3.94% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -138 thousand shares and in total, 887 thousand shares were bought and sold for approximately $2.38 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 -4.06% during the next 3 months and, with a 90% probability hold a price between $2.14 and $3.22 at the end of this 3-month period.
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TPIC Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, April 10, 2024, and so far it has risen 3.88%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The TPI Composites Inc stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $2.81. On a fall, the stock will find some support from the short-term average at $2.67. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for TPI Composites Inc stock
TPI Composites Inc finds support from accumulated volume at $2.66 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 $0.140 between high and low, or 5.43%. For the last week, the stock has had daily average volatility of 6.48%.
Our recommended stop-loss: $2.54 (-5.21%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 7 days ago.)
Trading Expectations (TPIC) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect TPI Composites Inc to open at $2.66, and during the day (based on 14 day Average True Range), to move between $2.47 and $2.89, which gives a possible trading interval of +/-$0.208 (+/-7.77%) up or down from last closing price. If TPI Composites Inc takes out the full calculated possible swing range there will be an estimated 15.54% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $2.70 (0.75%) than the support at $2.66 (0.75%), 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 TPI Composites Inc stock A Buy?
TPI Composites Inc holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.295 Hold/Accumulate Unchanged
Predicted Opening Price for TPI Composites Inc of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $2.66 ( 0.746%) | $2.68 |
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 | 2.80 | 4.48 % | |
| R2 | 2.75 | 2.48 % | ||
| R1 | 2.71 | 1.25 % | ||
| Current price: | 2.68 | |||
| Support | S1 | 2.61 | -2.74 % | |
| S2 | 2.57 | -3.97 % | ||
| S3 | 2.52 | -5.97 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.99 | 11.57 % | |
| R2 | 2.79 | 4.10 % | ||
| R1 | 2.70 | 0.746 % | ||
| Current price | 2.68 | |||
| Support | S1 | 2.66 | -0.746% | |
| S2 | 2.51 | -6.34% | ||
| S3 | 2.35 | -12.31% |
FAQ
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