Motorcar Parts of America Stock Forecast
Red day on Monday for Motorcar Parts of America stock after losing 0.181%
(Updated on Apr 22, 2024)
The Motorcar Parts of America stock price fell by -0.181% on the last day (Monday, 22nd Apr 2024) from $5.51 to $5.50. During the last trading day the stock fluctuated 9.19% from a day low at $5.46 to a day high of $5.96. The price has fallen in 9 of the last 10 days and is down by -21.32% for this period. Volume has increased on the last day by 90 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 145 thousand shares were bought and sold for approximately $796.27 thousand.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -36.92% during the next 3 months and, with a 90% probability hold a price between $3.10 and $4.49 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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MPAA Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 7.63%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Motorcar Parts of America 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 $5.56 and $7.41. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Motorcar Parts of America gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for Motorcar Parts of America stock
Motorcar Parts of America finds support from accumulated volume at $5.42 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.502 between high and low, or 9.19%. For the last week, the stock has had daily average volatility of 7.77%.
Motorcar Parts of America is oversold on RSI14 (20). 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 (MPAA) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect Motorcar Parts of America to open at $5.64, and during the day (based on 14 day Average True Range), to move between $5.03 and $5.97, which gives a possible trading interval of +/-$0.473 (+/-8.61%) up or down from last closing price. If Motorcar Parts of America takes out the full calculated possible swing range there will be an estimated 17.21% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $5.54 (0.73%) than the support at $5.42 (1.45%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Motorcar Parts of America stock A Buy?
Motorcar Parts of America holds several negative signals and is within a very 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: -4.382 Sell Candidate Unchanged
Predicted Opening Price for Motorcar Parts of America of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| $5.64 ( 2.56%) | $5.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MPAA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.14 | 11.68 % | |
| R2 | 5.95 | 8.19 % | ||
| R1 | 5.83 | 6.04 % | ||
| Current price: | 5.50 | |||
| Support | S1 | 5.45 | -0.93 % | |
| S2 | 5.33 | -3.08 % | ||
| S3 | 5.14 | -6.56 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.24 | 13.45 % | |
| R2 | 5.59 | 1.64 % | ||
| R1 | 5.54 | 0.727 % | ||
| Current price | 5.50 | |||
| Support | S1 | 5.42 | -1.45% | |
| S2 | 5.11 | -7.09% | ||
| S3 | 0 | . |
FAQ
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