Tanzanian Royalty Exploration Corp. (US) Forecast and Stock Analysis
Technical TRX stock analysis for February 15, 2019.
|Shorts||7.04% ( 2019-01-31 )|
Tanzanian Royalty Exploration Corp. (US) fell by -12.50% in the last day from $0.66 to $0.58 The price has fallen in 6 of the last 10 days and is down by -2.12% for this period. Volume has increased in the last day by 449 887 shares, but on falling prices. This may be an early warning and the risk will be increased slightly for the next couple of days. In total, 764 064 shares bought and sold for approximately $441 247.00.
Close price at the end of the last trading day (Friday, 15th Feb 2019) of the TRX stock was $0.58. This is 12.5% less than the trading day before Thursday, 14th Feb 2019.
During day the stock fluctuated 17.86% from a day low at $0.56 to a day high of $0.66.
30 day high of the TRX stock price was $0.68 and low was $0.30.
90 day high was $0.68 and low was $0.25.
52 week high for the Tanzanian Royalty Exploration Corp. (US) - $0.68 and low - $0.25.
Tanzanian Royalty Exploration Corp. (US) lies in the middle of a very wide and 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 63.73% during the next 3 months and, with 90% probability hold a price between $0.63 and $1.09 at the end of this period.
There are mixed signals in the stock today. A sales signal was issued from a pivot top point on Thursday February 14, 2019, which indicates further falls until a new bottom pivot has been found. Tanzanian Royalty Exploration Corp. (US) 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-off's". Tanzanian Royalty Exploration Corp. (US) holds a sales 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. On further gains, the stock will meet resistance from the short-term moving average at approximately $0.61. On a fall, the stock will find some support from the long-term average at approximately $0.45. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sales signal.
Relative Strength Index (RSI)
RSI14 is 51 and the stock is currently not being overbought or oversold
Support & Resistance
Tanzanian Royalty Exploration Corp. (US) finds support from accumulated volume at $0.57.
This stock may move much during a day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.10 between high and low, or 17.86%. For the last week, the stock has had a daily average volatility of 10.82%.
Our recommended stoploss: $0.53 (-7.50%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from pivot top found 1 days ago.)
Very Low Low Medium High Very High
Tanzanian Royalty Exploration Corp. (US) holds several positive signals, but we still don't find these to be enough for a buy-recommendation. At the current level we recommend to hold or accumulate in this position whilst awaiting for further development. Due to some small weaknesses in the technical picture we have downgraded our recommendation for this stock since last evaluation from a Buy Candidate to a Hold/Accumulate.