$TRUE +4.7% Bounce Break $2.41 Could Target $2.65
$TrueCar(TRUE)$
TRUE Jumps +4.74%: Bouncing from Support, Eyes $2.41 Resistance
Latest Close Data:
Closed at $2.21 (ET), up +4.74% from yesterday. The stock is trading ~42% below its 52-week high of $3.83.
Core Market Drivers:
The automotive marketplace platform saw positive net capital inflow today, suggesting some buying interest. However, the broader environment for online auto sales remains competitive, and the company continues to report negative earnings.
Technical Analysis:
Volume of 1.2M shares (Volume Ratio 1.53) supported the move.
The RSI (6) jumped to 56.16, indicating short-term momentum is strengthening and moving out of oversold territory.
The MACD histogram remains negative at -0.027, but the DIF line is attempting to turn up, hinting at potential momentum shift.
Key Price Levels:
Primary Support: $2.19 (recent support level).
Immediate Pivot: $2.21 (today's close).
Strong Resistance: $2.41 (key technical hurdle). A break above this is needed for a more sustained uptrend.
Valuation Perspective:
TTM P/E is negative at -10.36, reflecting ongoing losses. The Forward P/E of -9.09 shows an improving trend compared to its historical average of -19.04, but profitability remains a key challenge.
Analyst Targets:
3 analysts have an average price target of $2.65 (+20% upside). Current consensus leans towards a "Hold" rating.
Weekly Outlook:
Expect consolidation between $2.19 and $2.41. A decisive break above $2.41 could target the $2.65 area. Failure to hold $2.19 may lead to a retest of lower supports.
Risk Disclaimer:
This analysis is for informational purposes only and not financial advice. Trading involves significant risk. Past performance is not indicative of future results. Always conduct your own research.
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