Molina Healthcare Inc Stock Forecast
Molina Healthcare Inc stock price ended at $342.23 on Friday, after losing 2.86%.
(Updated on Apr 26, 2024)
The Molina Healthcare Inc stock price fell by -2.86% on the last day (Friday, 26th Apr 2024) from $352.30 to $342.23. During the last trading day the stock fluctuated 3.89% from a day low at $336.87 to a day high of $349.99. The price has been going up and down for this period, and there has been a -9.12% loss for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -323 thousand shares and in total, 587 thousand shares were bought and sold for approximately $200.88 million.
Given the current horizontal trend, you can expect Molina Healthcare Inc stock with a 90% probability to be traded between $336.84 and $410.06 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
MOH Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Molina Healthcare Inc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $359.36 and $387.25. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, March 19, 2024, and so far it has fallen -18.43%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Molina Healthcare Inc stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $13.12 between high and low, or 3.89%. For the last week, the stock has had daily average volatility of 3.54%.
Molina Healthcare Inc is oversold on RSI14 (22). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MOH) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Molina Healthcare Inc to open at $343.03, and during the day (based on 14 day Average True Range), to move between $331.87 and $352.59, which gives a possible trading interval of +/-$10.36 (+/-3.03%) up or down from last closing price. If Molina Healthcare Inc takes out the full calculated possible swing range there will be an estimated 6.05% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $352.30, some $10.07 (2.94%) from the current price of $342.23, our system finds the risk reward not very attractive.
Is Molina Healthcare Inc stock A Buy?
Molina Healthcare Inc holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -4.231 Sell Candidate Unchanged
Predicted Opening Price for Molina Healthcare Inc of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $343.03 ( 0.234%) | $342.23 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MOH
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 356.15 | 4.07 % | |
| R2 | 351.14 | 2.60 % | ||
| R1 | 348.04 | 1.70 % | ||
| Current price: | 342.23 | |||
| Support | S1 | 338.02 | -1.23 % | |
| S2 | 334.92 | -2.14 % | ||
| S3 | 329.91 | -3.60 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 392.63 | 14.73 % | |
| R2 | 381.49 | 11.47 % | ||
| R1 | 352.30 | 2.94 % | ||
| Current price | 342.23 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
Click here for our free guide on how to buy Molina Healthcare Inc Stock.
