Tower Resources plc Stock Forecast
Tower Resources plc stock price up more than 20.00% on Tuesday
(Updated on Sep 01, 2020)
The Tower Resources plc stock price gained 20.00% on the last trading day (Tuesday, 1st Sep 2020), rising from £0.0035 to £0.0042. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 0% from a day low at £0.0042 to a day high of £0.0042. The price has been going up and down for this period, and there has been a 75% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 9 million more shares were traded than the day before. In total, 10 million shares were bought and sold for approximately £39.97 thousand.
Given the current short-term trend, the stock is expected to rise 28.05% during the next 3 months and, with a 90% probability hold a price between £0.0048 and £0.0054 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
TRP.L Signals & Forecast
The Tower Resources plc 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 £0.0031 and £0.0025. 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). Tower Resources plc has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. 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 Tuesday, November 30, -1. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Tower Resources plc stock
On the downside, the stock finds support just below today's level from accumulated volume at £0.0035 and £0.0033. 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, Tower Resources plc finds support just below today's level at £0.0035. If this is broken, then the next support from accumulated volume will be at £0.0033 and £0.0032.
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 between high and low, or 0%. For the last week the stock has had daily average volatility of 0%.
Our recommended stop-loss: £0 (-5.00%) (Unable to calculate.)
Trading Expectations (TRP.L) For The Upcoming Trading Day Of Wednesday 2nd
With no resistance above and support from accumulated volume @ £0.0035, some £0.0007 (16.67%) from the current price of £0.0042, our system finds the risk reward attractive.
Is Tower Resources plc stock A Buy?
Tower Resources plc 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: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Tower Resources plc of Wednesday, September 2, 2020
| Fair opening price September 2, 2020 | Current price |
|---|---|
| £0.0042 ( 0%) | £0.0042 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TRP.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0042 | . | |
| R2 | 0.0042 | . | ||
| R1 | 0.0042 | . | ||
| Current price: | 0.0042 | |||
| Support | S1 | 0.0042 | . | |
| S2 | 0.0042 | . | ||
| S3 | 0.0042 | . |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 0.0042 | |||
| Support | S1 | 0.0035 | -16.67% | |
| S2 | 0.0033 | -21.43% | ||
| S3 | 0.0032 | -23.81% |
FAQ
Click here for our free guide on how to buy Tower Resources plc Stock.
