Tremor International Ltd: Will TRMR Stock Retest All-Time Low?

• Tremor International Ltd announced Q2-2023 results on 17 August 2023.
• TRMR stock price touched an all-time low at the $3.68 mark. 
• TRMR stock price increased by 2.39% in the past 24 hours and is trading at $3.86.

Tremor stock surged approximately 35% since the start of 2023 and made an annual high at $8.59 on 30 January 2023. However, the price did not sustain there and was halted with a resistance level. The price has declined significantly from there towards the support level of $5.08. 

Furthermore, the downward momentum formed a “Double Bottom” pattern near the support of $5.20 while considering $5.08 as the first button and $6.34 as a mid-top. Then, the price bounced back and attained a resistance level of $7.77 on 17 July 2023 while consolidating between $6.70 and $7.77.

However, the bears in the market triumphed over the consolidation and dropped the price further near the $6.20 support level. At this time, TRMR stock witnessed a heavy involvement of sellers in the market. The release of the Q2-23 consensus deepened that fall further towards the all-time low at the $3.68 support level.

Q2-2023 Financial Report of Tremor International Ltd.

Tremor International Ltd released its second quarter’s financial report on 17 August 2023. The Q2-23 consensus report reflects opposing results of about 10.32% and 68.01% in revenue and EPS, respectively. 

The reported EPS (earning per share) was $0.06, which failed to meet the estimated EPS of $0.188. Meanwhile, the reported revenue was $80.252 Million compared to the estimated forecast of $89.49 Million.

The gloomy financial report catalyzed the sudden fall of roughly 46% in the TRMR stock price. It is now declining in a downtrend while forming lower lows and lower highs. The stock price is trading at $3.86 while witnessing a gain of 2.39% in the past intraday session. 

Will TRMR Stock Retest All-time Low?

Tremor International Ltd’s stock price is trading significantly below the 20, 50, 100, and 200-day EMAs, indicating a vigorous downfall with a weakness in the market. 

The RSI is hovering below the 30 mark with a score of 21.00, denoting that the price is in an oversold zone. If it goes down further, the price might reach an all-time low. However, a short-term pullback is possible.

The CMF (Chaikin Money Flow) score was -0.12 during the intraday session, reflecting bearish market dominance. However, the market capitalization of  Tremor International Ltd is $281.44 Million, with an average volume of 286.54K shares.

Conclusion 

TRMR stock price has plunged roughly 50% during the last 30 days, which has brought the price to an all-time low. However, prices might witness a relief rally soon. Investors should look for selling opportunities as technical indicators favor the same.

Technical Levels 

Major resistance: $8.59 and $8.19

Major support: $3.95 and $3.68

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.