Tootsie Roll Industries Inc Stock Analysis
Technical stock analysis for 22 January 2019
|Shorts||30.59% ( 2018-12-31 )|
Tootsie Roll Industries Inc gained 0.68% in the last trading day, rising from $33.95 to $34.18 , and has now gained 6 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. The price has risen in 8 of the last 10 days and is up by 6.31% over the past 2 weeks. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 2 867 more shares were traded than the day before. In total, 88 871 shares bought and sold for approximately $3.04 million.
Close price at the end of the last trading day (Tuesday, 22nd Jan 2019) of the TR stock was $34.18. This is 0.68% more than the trading day before Friday, 18th Jan 2019.
During day the stock fluctuated 1.11% from a day low at $33.88 to a day high of $34.25.
30 day high of the TR stock price was $34.25 and low was $31.06.
90 day high was $35.91 and low was $30.26.
52 week high for the Tootsie Roll Industries Inc - $36.15 and low - $27.45.
Tootsie Roll Industries Inc lies in the middle of a wide and weak 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 2.51% during the next 3 months and, with 90% probability hold a price between $32.27 and $37.15 at the end of this period.
Only positive signals in the chart today. Tootsie Roll Industries Inc holds buy signals from both short- and long-term moving averages, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down there will be some support from the lines at $33.18 and $33.41. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday January 09, 2019, which indicates further gains until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal.
Relative Strength Index (RSI)
RSI14 is 56 and the stock is currently not being overbought or oversold
Support & Resistance
Tootsie Roll Industries Inc finds support from accumulated volume at $34.03.
This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved $0.37 (1.11%) between high and low. For the last week, the stock has had a daily average volatility of 1.91%.
Since the Tootsie Roll Industries Inc has been rising for 6 days in a row, the risk for the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Our recommended stoploss: $32.64 (-4.50%) (This stock has low daily movements and this gives low risk. There is a buy signal from pivot bottom found 8 days ago.)
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Several short-term signals, along with a general good trend, are positive and we 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.