Trex Company Inc Stock Forecast
Green day on Thursday for Trex Company Inc
(Updated on Mar 28, 2024)
The Trex Company Inc stock price gained 0.504% on the last trading day (Thursday, 28th Mar 2024), rising from $99.25 to $99.75. During the last trading day the stock fluctuated 1.91% from a day low at $98.45 to a day high of $100.33. The price has risen in 7 of the last 10 days and is up by 5.18% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 137 thousand more shares were traded than the day before. In total, 523 thousand shares were bought and sold for approximately $52.21 million.
The stock lies in the middle of a strong 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 29.01% during the next 3 months and, with a 90% probability hold a price between $123.82 and $130.58 at the end of this 3-month period.
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TREX Signals & Forecast
The Trex Company Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $99.28 and $94.50. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Monday, March 25, 2024, and so far it has fallen -0.350%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Trex Company Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at $93.17 and $89.91. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Trex Company Inc finds support just below today's level at $93.17. If this is broken, then the next support from accumulated volume will be at $89.91 and $86.57.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $1.88 (1.91%) between high and low. For the last week, the stock has had daily average volatility of 1.84%.
Our recommended stop-loss: $95.96 (-3.80%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 3 days ago.)
Trading Expectations (TREX) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Trex Company Inc to open at $99.51, and during the day (based on 14 day Average True Range), to move between $97.39 and $102.11, which gives a possible trading interval of +/-$2.36 (+/-2.37%) up or down from last closing price. If Trex Company Inc takes out the full calculated possible swing range there will be an estimated 4.74% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $99.79 (0.04%) than the support at $93.17 (6.60%), 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 Trex Company Inc stock A Buy?
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 Trex Company Inc stock to perform well in the short-term.
Current score: 3.072 Buy Candidate Unchanged
Predicted Opening Price for Trex Company Inc of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$99.51 ( 0.239%) | $99.75 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TREX
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 101.40 | 1.65 % | |
R2 | 100.68 | 0.93 % | ||
R1 | 100.23 | 0.482 % | ||
Current price: | 99.75 | |||
Support | S1 | 98.79 | -0.96 % | |
S2 | 98.35 | -1.41 % | ||
S3 | 97.63 | -2.13 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 100.10 | 0.351 % | ||
R1 | 99.79 | 0.0401 % | ||
Current price | 99.75 | |||
Support | S1 | 93.17 | -6.60% | |
S2 | 89.91 | -9.86% | ||
S3 | 86.57 | -13.21% |
FAQ
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