Tootsie Roll Industries 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
Tootsie Roll Industries Inc stock price ended at $31.96 on Wednesday, after gaining 0.377%.
(Updated on Mar 27, 2024)
The Tootsie Roll Industries Inc stock price gained 0.377% on the last trading day (Wednesday, 27th Mar 2024), rising from $31.84 to $31.96. During the last trading day the stock fluctuated 1.16% from a day low at $31.88 to a day high of $32.25. The price has risen in 6 of the last 10 days but is still down by -0.93% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 5 thousand more shares were traded than the day before. In total, 53 thousand shares were bought and sold for approximately $1.68 million.
The stock lies in the middle of a 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 -7.25% during the next 3 months and, with a 90% probability hold a price between $28.19 and $30.65 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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TR Signals & Forecast
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. The Tootsie Roll Industries 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 $32.11 and $32.23. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, March 04, 2024, and so far it has fallen -4.02%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Tootsie Roll Industries Inc stock
Tootsie Roll Industries Inc finds support from accumulated volume at $31.83 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 $0.370 between high and low, or 1.16%. For the last week the stock has had daily average volatility of 1.80%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (TR) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Tootsie Roll Industries Inc to open at $32.03, and during the day (based on 14 day Average True Range), to move between $31.30 and $32.62, which gives a possible trading interval of +/-$0.660 (+/-2.07%) up or down from last closing price. If Tootsie Roll Industries Inc takes out the full calculated possible swing range there will be an estimated 4.13% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $31.83 (0.41%) than the resistance at $32.26 (0.94%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Tootsie Roll Industries Inc stock A Buy?
Tootsie Roll Industries Inc holds several negative signals and is within a 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.
Current score: -1.932 Sell Candidate Unchanged
Predicted Opening Price for Tootsie Roll Industries Inc of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$32.03 ( 0.219%) | $31.96 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TR
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 32.40 | 1.38 % | |
R2 | 32.26 | 0.93 % | ||
R1 | 32.17 | 0.661 % | ||
Current price: | 31.96 | |||
Support | S1 | 31.89 | -0.223 % | |
S2 | 31.80 | -0.496 % | ||
S3 | 31.66 | -0.94 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 33.12 | 3.63 % | |
R2 | 32.83 | 2.72 % | ||
R1 | 32.26 | 0.94 % | ||
Current price | 31.96 | |||
Support | S1 | 31.83 | -0.407% | |
S2 | 31.73 | -0.720% | ||
S3 | 31.43 | -1.66% |
TR Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 20, 2024 | Mar 05, 2024 | Mar 28, 2024 | $0.0874 | 0.273% |
2 | Dec 05, 2023 | Dec 19, 2023 | Jan 11, 2024 | $0.0900 | 0.267% |
3 | Sep 19, 2023 | Oct 06, 2023 | Oct 19, 2023 | $0.0900 | 0.310% |
4 | Jun 06, 2023 | Jun 16, 2023 | Jul 06, 2023 | $0.0900 | 0.272% |
5 | Feb 21, 2023 | Mar 03, 2023 | Mar 30, 2023 | $0.0900 | 0.209% |
FAQ
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