MDU Resources Group Inc Stock Forecast
MDU Resources Group Inc stock downgraded to Buy Candidate
(Updated on May 21, 2024)
The MDU Resources Group Inc stock price fell by -0.271% on the last day (Tuesday, 21st May 2024) from $25.87 to $25.80. During the last trading day the stock fluctuated 0.97% from a day low at $25.73 to a day high of $25.98. The price has been going up and down for this period, and there has been a 1.57% gain 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 -593 thousand shares and in total, 978 thousand shares were bought and sold for approximately $25.22 million.
The stock lies in the middle of a narrow and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 19.87% during the next 3 months and, with a 90% probability hold a price between $30.22 and $31.35 at the end of this 3-month period.
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MDU Signals & Forecast
The MDU Resources Group Inc 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 $25.41 and $24.87. 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 Monday, May 20, 2024, and so far it has fallen -0.271%. 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 MDU Resources Group Inc stock
MDU Resources Group Inc finds support from accumulated volume at $25.20 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.250 between high and low, or 0.97%. For the last week the stock has had daily average volatility of 1.27%.
Our recommended stop-loss: $24.86 (-3.64%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 24 days ago.)
Trading Expectations (MDU) For The Upcoming Trading Day Of Wednesday 22nd
For the upcoming trading day on Wednesday, 22nd we expect MDU Resources Group Inc to open at $25.84, and during the day (based on 14 day Average True Range), to move between $25.41 and $26.19, which gives a possible trading interval of +/-$0.386 (+/-1.50%) up or down from last closing price. If MDU Resources Group Inc takes out the full calculated possible swing range there will be an estimated 2.99% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $25.87 (0.27%) than the support at $25.20 (2.33%), 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 MDU Resources Group Inc stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for MDU Resources Group Inc stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 2.347 Buy Candidate Downgraded
Predicted Opening Price for MDU Resources Group Inc of Wednesday, May 22, 2024
| Fair opening price May 22, 2024 | Current price |
|---|---|
| $25.84 ( 0.142%) | $25.80 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MDU
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 26.09 | 1.11 % | |
| R2 | 25.99 | 0.741 % | ||
| R1 | 25.93 | 0.512 % | ||
| Current price: | 25.80 | |||
| Support | S1 | 25.74 | -0.228 % | |
| S2 | 25.68 | -0.457 % | ||
| S3 | 25.59 | -0.83 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 25.87 | 0.271 % | ||
| Current price | 25.80 | |||
| Support | S1 | 25.20 | -2.33% | |
| S2 | 24.50 | -5.04% | ||
| S3 | 23.62 | -8.45% |
MDU Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 13, 2024 | Jun 13, 2024 | Jul 01, 2024 | $0.125 | 0.484% |
| 2 | Feb 15, 2024 | Mar 13, 2024 | Apr 01, 2024 | $0.125 | 0.491% |
| 3 | Nov 16, 2023 | Dec 13, 2023 | Jan 01, 2024 | $0.125 | 0.631% |
| 4 | Aug 03, 2023 | Sep 13, 2023 | Oct 01, 2023 | $0.125 | 0.638% |
| 5 | May 04, 2023 | Jun 12, 2023 | Jul 01, 2023 | $0.223 | 1.06% |
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