Mexco Energy Corp Stock Forecast
Red day on Thursday for Mexco Energy Corp stock after losing 2.00%
(Updated on Mar 28, 2024)
The Mexco Energy Corp stock price fell by -2.00% on the last day (Thursday, 28th Mar 2024) from $10.18 to $9.98. During the last trading day the stock fluctuated 3.65% from a day low at $9.86 to a day high of $10.22. The price has fallen in 5 of the last 10 days and is down by -4.9% for this period. 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 -673 shares and in total, 1 thousand shares were bought and sold for approximately $13.90 thousand.
The stock is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Mexco Energy Corp stock with a 90% probability to be traded between $9.74 and $10.64 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.
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MXC Signals & Forecast
The Mexco Energy Corp stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $9.93 and $9.97. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, March 19, 2024, and so far it has risen 3.81%. Further rise is indicated until a new top pivot has been found. 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. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued. The stock had a Golden Star Signal on Friday, February 23, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star
The stock had a Golden Star Signal on Friday, February 23, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Mexco Energy Corp stock
Mexco Energy Corp finds support from accumulated volume at $9.80 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.360 between high and low, or 3.65%. For the last week the stock has had daily average volatility of 4.13%.
Our recommended stop-loss: $9.48 (-4.97%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 7 days ago.)
Trading Expectations (MXC) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Mexco Energy Corp to open at $10.02, and during the day (based on 14 day Average True Range), to move between $9.66 and $10.29, which gives a possible trading interval of +/-$0.316 (+/-3.17%) up or down from last closing price. If Mexco Energy Corp takes out the full calculated possible swing range there will be an estimated 6.33% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $9.98 (0.04%) than the support at $9.80 (1.77%), 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 Mexco Energy Corp stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Mexco Energy Corp stock to perform well in the short-term period.
Current score: 1.521 Buy Candidate Unchanged
Predicted Opening Price for Mexco Energy Corp of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$10.02 ( 0.424%) | $9.98 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MXC
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 10.38 | 4.03 % | |
R2 | 10.24 | 2.65 % | ||
R1 | 10.16 | 1.80 % | ||
Current price: | 9.98 | |||
Support | S1 | 9.88 | -0.95 % | |
S2 | 9.80 | -1.81 % | ||
S3 | 9.66 | -3.18 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 10.31 | 3.34 % | |
R2 | 10.14 | 1.64 % | ||
R1 | 9.98 | 0.0351 % | ||
Current price | 9.98 | |||
Support | S1 | 9.80 | -1.77% | |
S2 | 9.73 | -2.47% | ||
S3 | 9.64 | -3.42% |
MXC Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 10, 2023 | Apr 28, 2023 | May 15, 2023 | $0.100 | 0.93% |
FAQ
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