MidWestOne Financial Group Stock Forecast
MidWestOne Financial Group stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on May 17, 2024)
The MidWestOne Financial Group stock price gained 1.72% on the last trading day (Friday, 17th May 2024), rising from $21.50 to $21.87. During the last trading day the stock fluctuated 1.86% from a day low at $21.50 to a day high of $21.90. The price has been going up and down for this period, and there has been a 2.44% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 11 thousand more shares were traded than the day before. In total, 38 thousand shares were bought and sold for approximately $823.41 thousand.
The stockhas broken the wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $21.77, a level that may pose a second chance to hit a runner. According to fan-theory $24.58 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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MOFG Signals & Forecast
The MidWestOne Financial Group 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 $21.63 and $21.24. 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). MidWestOne Financial Group has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. 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, May 09, 2024, and so far it has fallen -0.546%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for MidWestOne Financial Group stock
MidWestOne Financial Group finds support from accumulated volume at $21.35 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 $0.400 (1.86%) between high and low. For the last week, the stock has had daily average volatility of 1.96%.
Our recommended stop-loss: $21.02 (-3.89%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 6 days ago.)
Trading Expectations (MOFG) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect MidWestOne Financial Group to open at $21.76, and during the day (based on 14 day Average True Range), to move between $21.21 and $22.53, which gives a possible trading interval of +/-$0.662 (+/-3.03%) up or down from last closing price. If MidWestOne Financial Group takes out the full calculated possible swing range there will be an estimated 6.05% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $21.35 (2.38%) than the resistance at $22.47 (2.74%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is MidWestOne Financial Group stock A Buy?
MidWestOne Financial Group 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.784 Hold/Accumulate Upgraded
Predicted Opening Price for MidWestOne Financial Group of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $21.76 ( 0.518%) | $21.87 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MOFG
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 22.16 | 1.31 % | |
| R2 | 22.00 | 0.612 % | ||
| R1 | 21.91 | 0.180 % | ||
| Current price: | 21.87 | |||
| Support | S1 | 21.60 | -1.22 % | |
| S2 | 21.51 | -1.65 % | ||
| S3 | 21.36 | -2.35 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 23.44 | 7.18 % | |
| R2 | 23.33 | 6.68 % | ||
| R1 | 22.47 | 2.74 % | ||
| Current price | 21.87 | |||
| Support | S1 | 21.35 | -2.38% | |
| S2 | 20.60 | -5.81% | ||
| S3 | 20.41 | -6.68% |
MOFG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 25, 2024 | Jun 03, 2024 | Jun 17, 2024 | $0.243 | 1.11% |
| 2 | Jan 25, 2024 | Feb 29, 2024 | Mar 15, 2024 | $0.243 | 1.08% |
| 3 | Oct 24, 2023 | Nov 30, 2023 | Dec 15, 2023 | $0.240 | 0.91% |
| 4 | Jul 25, 2023 | Aug 31, 2023 | Sep 15, 2023 | $0.243 | 1.16% |
| 5 | Apr 27, 2023 | May 31, 2023 | Jun 15, 2023 | $0.243 | 1.11% |
FAQ
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