TGLS Price Prediction Next Week
Analysis and Insights
Technical Analysis:
TGLS's stock is currently trading at $73.315 as of the latest data. The stock has shown recent bullish momentum, with a pre-market percentage change of +1.30% and a regular market increase of +2.18%. The technical indicators suggest a mixed outlook:
- RSI (14): 51.74, indicating the stock is not in oversold territory but is approaching a potential buy zone.
- MACD: The MACD line (-0.86) is below the signal line (0.88), indicating bearish momentum.
- Stochastic Oscillator: The %K (77.75) is above %D (65.14), suggesting bullish momentum.
- Fibonacci Levels: The stock is currently trading above the pivot level of $68.76, with resistance levels at $72.56 and $74.90, and support levels at $64.97 and $62.63.
News Sentiment and Fundamental Analysis:
- Analyst Ratings: D.A. Davidson has maintained a Buy rating on TGLS with a price target of $96.00, indicating a potential upside of 29.12% from its current share price. The company has shown strong financial results, achieving record revenues and projecting 2025 revenue between $940M and $1.02B. However, the stock faces challenges due to a U.S. trade investigation into Colombian aluminum.
Conclusion:
Based on the technical indicators and news sentiment, TGLS is expected to test the lower support levels in the next trading week. The stock is likely to drop to $64.97, making it a sell signal if it breaks below the current support level.
Prediction: The stock price of TGLS is expected to drop to $64.97 in the next trading week. It is recommended to sell TGLS at the current price level.
TGLS Similar Chart Price Prediction
The price of TGLS is predicted to go up -28.4%, based on the high correlation periods with IIPR. The similarity of these two price pattern on the periods is 94.33%.
TGLS
IIPR
Down: -28.4%Similarity: 94.33%
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%
