Taro Pharmaceutical Industries Ltd Stock Forecast
Green day on Friday for Taro Pharmaceutical Industries Ltd
(Updated on Apr 19, 2024)
The Taro Pharmaceutical Industries Ltd stock price gained 0.142% on the last trading day (Friday, 19th Apr 2024), rising from $42.19 to $42.25. During the last trading day the stock fluctuated 0.380% from a day low at $42.14 to a day high of $42.30. The price has been going up and down for this period, and there has been a 0.28% gain for the last 2 weeks. Volume fell on the last day by -17 thousand shares and in total, 11 thousand shares were bought and sold for approximately $485.54 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock has broken the narrow and horizontal trend up. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately. $42.19 is considered to be a "second chance" to hit a potential runner. It is, however, important that volume does follow the price as false breaks may appear and it may move back into the horizontal trend. Based on the rectangle-formation theory the stock is predicted to reach $43.72 sometime during the next 3 months.
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TARO Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Thursday, March 28, 2024, and so far it has fallen -0.213%. 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 during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not. The Taro Pharmaceutical Industries Ltd 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 $42.15 and $42.10. A breakdown below any of these levels will issue sell signals. The stock had a Golden Star Signal on Tuesday, March 26, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star
The stock had a Golden Star Signal on Tuesday, March 26, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Taro Pharmaceutical Industries Ltd stock
Taro Pharmaceutical Industries Ltd finds support from accumulated volume at $42.13 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0.160 between high and low, or 0.380%. For the last week the stock has had daily average volatility of 0.506%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (TARO) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Taro Pharmaceutical Industries Ltd to open at $42.23, and during the day (based on 14 day Average True Range), to move between $41.97 and $42.53, which gives a possible trading interval of +/-$0.279 (+/-0.66%) up or down from last closing price. If Taro Pharmaceutical Industries Ltd takes out the full calculated possible swing range there will be an estimated 1.32% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $42.34 (0.21%) than the support at $42.13 (0.28%), 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 Taro Pharmaceutical Industries Ltd stock A Buy?
Taro Pharmaceutical Industries Ltd holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -1.213 Sell Candidate Unchanged
Predicted Opening Price for Taro Pharmaceutical Industries Ltd of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $42.23 ( 0.0473%) | $42.25 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TARO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 42.39 | 0.331 % | |
| R2 | 42.33 | 0.187 % | ||
| R1 | 42.29 | 0.0973 % | ||
| Current price: | 42.25 | |||
| Support | S1 | 42.17 | -0.192 % | |
| S2 | 42.13 | -0.281 % | ||
| S3 | 42.07 | -0.426 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 43.33 | 2.56 % | |
| R2 | 43.28 | 2.44 % | ||
| R1 | 42.34 | 0.213 % | ||
| Current price | 42.25 | |||
| Support | S1 | 42.13 | -0.284% | |
| S2 | 42.12 | -0.308% | ||
| S3 | 40.97 | -3.03% |
TARO Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Nov 05, 2018 | Dec 10, 2018 | Dec 28, 2018 | $12.81 | 15.12% |
FAQ
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