Third Point Offshore Ltd Stock Forecast

Red day on Monday for Third Point Offshore Ltd
(Updated on Apr 22, 2024)

TPOU.L Signals & Forecast

A sell signal was issued from a pivot top point on Wednesday, April 03, 2024, and so far it has fallen -3.02%. 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). Third Point Offshore Ltd gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". Some positive signals were issued as well, and these may have some influence on the near short-term development. The Third Point Offshore Ltd stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately £22.48. On a fall, the stock will find some support from the long-term average at approximately £22.19. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. The stock had a Golden Star Signal on Wednesday, July 19, 2023 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Third Point Offshore Ltd stock

Third Point Offshore Ltd finds support from accumulated volume at £21.60 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved £0.0980 between high and low, or 0.437%. For the last week the stock has had daily average volatility of 0.628%.

Our recommended stop-loss: £21.66 (-3.50%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 13 days ago.)

Trading Expectations (TPOU.L) For The Upcoming Trading Day Of Tuesday 23rd

For the upcoming trading day on Tuesday, 23rd we expect Third Point Offshore Ltd to open at £22.45, and during the day (based on 14 day Average True Range), to move between £22.18 and £22.72, which gives a possible trading interval of +/-£0.269 (+/-1.20%) up or down from last closing price. If Third Point Offshore Ltd takes out the full calculated possible swing range there will be an estimated 2.39% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at £22.50 (0.22%) than the support at £21.60 (3.79%), 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 Third Point Offshore Ltd stock A Buy?

Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period.

Current score: 1.374 Buy Candidate Unchanged

Predicted Opening Price for Third Point Offshore Ltd of Tuesday, April 23, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.