Tyler Technologies (NYSE: TYL) Tyler Technologies, Inc. engages in the provision of integrated technology and management solutions and services for the public sector with a focus on local governments. It operates through the following segments: Enterprise Software and Appraisal and Tax. The Enterprise Software segment provides municipal and county governments and schools with software systems to meet their information technology.
The company was founded in 1966 and is headquartered in Plano, TX.
Will TYL stock (NYSE: TYL) Price Reach $500 by 2024?
TYL stock price produced the falling wedge pattern and has made a strong bullish marubozu candlestick, highlighting the buying interest. Moreover, the price action shows long buildup activity. TYL stock has surpassed the round mark of $400 decisively and is heading to the 52 week high of $426.83 bullishly.
At press time, TYL stock price is trading at $416.25 with an intraday gain of 2.59% showing bullishness on the charts. Moreover, the trading volume increased by 0.56% to 342.890K while the market cap is $17.534 Billion. Furthermore, analysts have maintained a buy rating with a yearly target price of $459.82 suggesting a growth outlook.
The RSI curve stayed in the overbought zone and has formed a bullish divergence suggesting a bullish outlook.
The MACD shows a bullish crossover and formed green bars on the histogram suggesting a positive outlook.
TYL Stock Price Prediction 2023
The ongoing trend shows a breakout from the falling wedge pattern and a sharp rise beyond the round mark of $400. Furthermore, the price action is delivering the investors’ interest and the options chain shows long buildup. Moreover, the short positions were trapped and the buyers were celebrating the breakout.
If the stock gains momentum and surpasses the neckline of $425, TYL stock will soon hit the glory mark of $450. In case of a reversal, TYL stock price would slip to the round mark of $400.
TYL Stock Price Prediction 2024
On the monthly chart, TYL stock has made a bullish engulfing candlestick and is trading close to the neckline of $425, which if surpassed, the stock will fly toward the bluesky zone of $480 by 2024.
On the contrary, if TYL stock slips below the round mark of $400, it will head for $360, the demand zone.
TYL Stock Price Prediction 2025
On the 6 months chart, TYL stock price has made a doji candle followed by a strong bullish engulfing candlestick showcasing buying interest on the charts. Furthermore, the chart shows that stock pulled back from the 61.8% Fibonacci retracement zone, showing a bullish structure.
The short covering move indicates that TYL stock is cementing the new highs that the coming sessions are likely to be similar.
TYL stock shows a strong chart structure. The price action suggests that stock will skyrocket and will reach the round mark of $500, followed by $525 in the next few years. Conversely, if the buying momentum fades, TYL stock will retest the demand zone of $350 again.
Summary
TYL stock price is trading above the significant moving averages and surpassed the trendline barrier of $400 delivering a break-out. Furthermore, the price action highlights the buying interest and is suggesting that TYL stock may reach $500 soon.
Technical Levels
Support Levels: $400 and $380
Resistance Levels: $425 and $450
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
Source: https://www.thecoinrepublic.com/2023/11/05/tyl-stock-price-prediction-2023-25-bulls-rising-from-the-ashes/