TGLS Price Prediction Next Week
Technical Analysis: Based on the latest market data, TGLS is showing bearish signals in the short term:
- RSI (14) at 35.11 indicates the stock is approaching oversold territory
- MACD (-2.56) shows negative momentum with bearish crossover
- Stock trading below both 5-day (69.53) and 10-day (71.87) moving averages
- Stochastic RSI at very low levels (9.38) suggests oversold conditions
Price Levels:
- Current price: $69.98
- Key resistance: Fibonacci R1 at $75.48
- Key support: Fibonacci S1 at $67.74
- Bollinger Bands show price near lower band, suggesting potential bounce
News Analysis:
- Recent upgrade from Motley Fool model (rating increased from 69% to 76%)
- Strong fundamentals in construction industry supplies sector
- Stock recently crossed above analyst target of $82.00, suggesting potential valuation concerns
Price Prediction (Next Week): Based on technical indicators and news sentiment:
Bearish Scenario (60% probability):
- Target: $67.74 (Fibonacci S1)
- Drivers: Oversold conditions may persist, negative MACD momentum
Bullish Scenario (40% probability):
- Target: $72.50 (Near recent high)
- Drivers: Potential technical bounce from oversold levels, positive analyst sentiment
Recommendation: SELL
- Current technical indicators suggest continued downward pressure
- Wait for price stabilization and positive momentum before entering new positions
- Set stop-loss at $72.81 (recent high) if holding positions
TGLS Similar Chart Price Prediction
The price of TGLS is predicted to go up -5.92%, based on the high correlation periods with NNBR. The similarity of these two price pattern on the periods is 95.54%.
TGLS
NNBR
Down: -5.92%Similarity: 95.54%
TGLS Revenue Forecast
TGLS EPS Forecast
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TGLS Analyst's Forecast
Brent Thielman
DA Davidson
Strong Buy
2024-11-12
Price Target
$65 → $90
Upside
+21.9%
Reports Q3 revenue $238.3M, consensus $240.19M. Jose Manuel Daes, Chief Executive Officer of Tecnoglass, commented, "Our third quarter 2024 results once again demonstrate our ability to outperform in challenging market conditions, particularly in our single-family residential business. Our vertically integrated model continues to be a key differentiator, enabling us to control costs and swiftly adapt to market dynamics. Investments in automation and advanced manufacturing are yielding significant returns, enhancing our operational efficiency and capacity to meet growing demand for our innovative products. These factors drove strong gross profit and Adjusted EBITDA growth this quarter. Record backlog in our multi-family/commercial segment, coupled with October's record total invoicing, supports our strengthened 2024 outlook. This all-around solid performance was accentuated by another quarter of strong cash flow. Our ability to consistently outperform our market reinforces our expectation to capitalize on long-term growth opportunities in both residential and commercial markets, backed by our strong balance sheet and cash generation capabilities."
Timothy Wojs
Baird
Buy
2024-11-08
Price Target
$85 → $88
Upside
+15.79%
Alex Rygiel
B. Riley Securities
Hold
2024-10-10
Price Target
$69 → $72
Downside
-0.77%
