Mesa Laboratories Stock Forecast

Weaker technical forecast for Mesa Laboratories as stock downgraded to Hold/Accumulate.
(Updated on Apr 24, 2024)

MLAB Signals & Forecast

The Mesa Laboratories 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 $102.48 and $104.43. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Thursday, March 07, 2024, and so far it has fallen -8.44%. 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 Mesa Laboratories stock

Mesa Laboratories finds support from accumulated volume at $104.27 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $5.52 between high and low, or 5.35%. For the last week, the stock has had daily average volatility of 4.25%.

Our recommended stop-loss: $98.39 (-5.82%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 33 days ago.)

Trading Expectations (MLAB) For The Upcoming Trading Day Of Thursday 25th

For the upcoming trading day on Thursday, 25th we expect Mesa Laboratories to open at $105.50, and during the day (based on 14 day Average True Range), to move between $99.90 and $109.04, which gives a possible trading interval of +/-$4.57 (+/-4.38%) up or down from last closing price. If Mesa Laboratories takes out the full calculated possible swing range there will be an estimated 8.75% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $104.27 (0.19%) than the resistance at $104.74 (0.26%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Mesa Laboratories stock A Buy?

Mesa Laboratories holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: 0.408 Hold/Accumulate Downgraded

Predicted Opening Price for Mesa Laboratories of Thursday, April 25, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.