Tanzanian Royalty Exploration Corp. (US) 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
Red day on Wednesday for Tanzanian Royalty Exploration Corp. (US)
(Updated on Apr 24, 2024)
The Tanzanian Royalty Exploration Corp. (US) stock price fell by -0.0221% on the last day (Wednesday, 24th Apr 2024) from $0.453 to $0.453. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 1.98% from a day low at $0.450 to a day high of $0.459. The price has fallen in 6 of the last 10 days but is still up by 1.25% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -112 thousand shares and in total, 160 thousand shares were bought and sold for approximately $72.46 thousand.
The stock lies in the middle of a 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 46.31% during the next 3 months and, with a 90% probability hold a price between $0.608 and $0.700 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.
TRX Signals & Forecast
The Tanzanian Royalty Exploration Corp. (US) stock holds a sell 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 giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $0.459. On a fall, the stock will find some support from the long-term average at approximately $0.417. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell 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 Friday, April 19, 2024, and so far it has fallen -3.93%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Tanzanian Royalty Exploration Corp. (US) stock
Tanzanian Royalty Exploration Corp. (US) finds support from accumulated volume at $0.447 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0089 between high and low, or 1.98%. For the last week the stock has had daily average volatility of 3.55%.
Our recommended stop-loss: $0.429 (-5.28%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 3 days ago.)
Trading Expectations (TRX) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Tanzanian Royalty Exploration Corp. (US) to open at $0.454, and during the day (based on 14 day Average True Range), to move between $0.424 and $0.481, which gives a possible trading interval of +/-$0.0280 (+/-6.20%) up or down from last closing price. If Tanzanian Royalty Exploration Corp. (US) takes out the full calculated possible swing range there will be an estimated 12.39% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.458 (1.19%) than the support at $0.447 (1.33%), 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 Tanzanian Royalty Exploration Corp. (US) 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 Tanzanian Royalty Exploration Corp. (US) stock to perform well in the short-term.
Current score: 1.481 Buy Candidate Unchanged
Predicted Opening Price for Tanzanian Royalty Exploration Corp. (US) of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $0.454 ( 0.287%) | $0.453 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TRX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.463 | 2.25 % | |
| R2 | 0.459 | 1.50 % | ||
| R1 | 0.457 | 1.04 % | ||
| Current price: | 0.453 | |||
| Support | S1 | 0.450 | -0.464 % | |
| S2 | 0.448 | -0.93 % | ||
| S3 | 0.445 | -1.68 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.470 | 3.89 % | |
| R2 | 0.459 | 1.44 % | ||
| R1 | 0.458 | 1.19 % | ||
| Current price | 0.453 | |||
| Support | S1 | 0.447 | -1.33% | |
| S2 | 0.416 | -8.07% | ||
| S3 | 0.413 | -8.75% |
FAQ
Click here for our free guide on how to buy Tanzanian Royalty Exploration Corp. (US) Stock.
