Medallion Financial Corp. Stock Forecast
Red day on Thursday for Medallion Financial Corp.
(Updated on Apr 25, 2024)
The Medallion Financial Corp. stock price fell by -3.14% on the last day (Thursday, 25th Apr 2024) from $8.28 to $8.02. During the last trading day the stock fluctuated 3.85% from a day low at $7.82 to a day high of $8.12. The price has been going up and down for this period, and there has been a 2.56% gain for the last 2 weeks. Volume has increased on the last day by 5 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, 51 thousand shares were bought and sold for approximately $409.03 thousand.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $8.24 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -22.26% during the next 3 months and, with a 90% probability hold a price between $4.91 and $6.41 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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MFIN Signals & Forecast
The Medallion Financial Corp. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $7.93 and $7.85. 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 9.86%. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Medallion Financial Corp. 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 Medallion Financial Corp. stock
Medallion Financial Corp. finds support from accumulated volume at $8.01 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.301 (3.85%) between high and low. For the last week, the stock has had daily average volatility of 4.10%.
Our recommended stop-loss: $7.72 (-3.80%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 26 days ago.)
Trading Expectations (MFIN) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Medallion Financial Corp. to open at $7.99, and during the day (based on 14 day Average True Range), to move between $7.68 and $8.36, which gives a possible trading interval of +/-$0.339 (+/-4.23%) up or down from last closing price. If Medallion Financial Corp. takes out the full calculated possible swing range there will be an estimated 8.46% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $8.01 (0.12%) than the resistance at $8.07 (0.62%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Medallion Financial Corp. will release earnings BMO on Tuesday, April 30, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.350. We will update the financials statements for Medallion Financial Corp., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 6.57% in the first trading day after earnings release.
Is Medallion Financial Corp. stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 2.217 Buy Candidate Unchanged
Predicted Opening Price for Medallion Financial Corp. of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $7.99 ( 0.420%) | $8.02 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MFIN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.29 | 3.33 % | |
| R2 | 8.17 | 1.90 % | ||
| R1 | 8.10 | 1.01 % | ||
| Current price: | 8.02 | |||
| Support | S1 | 7.87 | -1.85 % | |
| S2 | 7.80 | -2.74 % | ||
| S3 | 7.69 | -4.17 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.83 | 22.57 % | |
| R2 | 8.97 | 11.85 % | ||
| R1 | 8.07 | 0.623 % | ||
| Current price | 8.02 | |||
| Support | S1 | 8.01 | -0.125% | |
| S2 | 7.87 | -1.87% | ||
| S3 | 7.30 | -8.98% |
MFIN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 16, 2024 | Mar 14, 2024 | Mar 28, 2024 | $0.100 | 1.26% |
| 2 | Oct 24, 2023 | Nov 14, 2023 | Nov 30, 2023 | $0.100 | 1.05% |
| 3 | Jul 20, 2023 | Aug 14, 2023 | Aug 31, 2023 | $0.0800 | 0.95% |
| 4 | Apr 26, 2023 | May 12, 2023 | May 31, 2023 | $0.0800 | 1.26% |
| 5 | Feb 16, 2023 | Mar 14, 2023 | Mar 31, 2023 | $0.0800 | 1.04% |
FAQ
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