Morningstar Stock Forecast
Morningstar stock upgraded to Buy Candidate.
(Updated on May 07, 2024)
The Morningstar stock price gained 0.294% on the last trading day (Tuesday, 7th May 2024), rising from $298.98 to $299.86. It has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.08% from a day low at $299.02 to a day high of $302.26. The price has risen in 6 of the last 10 days but is still down by -0.18% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 25 thousand more shares were traded than the day before. In total, 106 thousand shares were bought and sold for approximately $31.88 million.
The stock lies in the middle of a wide and weak 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 3.96% during the next 3 months and, with a 90% probability hold a price between $294.87 and $331.66 at the end of this 3-month period.
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MORN Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 6.09%. 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). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Morningstar stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $300.74. On a fall, the stock will find some support from the short-term average at $291.10. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.
Support, Risk & Stop-loss for Morningstar stock
Morningstar finds support from accumulated volume at $298.71 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 $3.24 between high and low, or 1.08%. For the last week, the stock has had daily average volatility of 1.77%.
Our recommended stop-loss: $287.65 (-4.07%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (MORN) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Morningstar to open at $300.38, and during the day (based on 14 day Average True Range), to move between $293.87 and $305.85, which gives a possible trading interval of +/-$5.99 (+/-2.00%) up or down from last closing price. If Morningstar takes out the full calculated possible swing range there will be an estimated 3.99% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $298.71 (0.38%) than the resistance at $301.49 (0.54%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Morningstar 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 Morningstar stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.147 Buy Candidate Upgraded
Predicted Opening Price for Morningstar of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| $300.38 ( 0.173%) | $299.86 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MORN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 303.62 | 1.25 % | |
| R2 | 302.38 | 0.84 % | ||
| R1 | 301.62 | 0.586 % | ||
| Current price: | 299.86 | |||
| Support | S1 | 299.14 | -0.239 % | |
| S2 | 298.38 | -0.494 % | ||
| S3 | 297.14 | -0.91 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 306.32 | 2.15 % | |
| R2 | 304.22 | 1.45 % | ||
| R1 | 301.49 | 0.544 % | ||
| Current price | 299.86 | |||
| Support | S1 | 298.71 | -0.384% | |
| S2 | 295.19 | -1.56% | ||
| S3 | 287.46 | -4.14% |
MORN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Oct 03, 2024 | Oct 03, 2024 | Oct 31, 2024 | $0.405 | 0.135% |
| 2 | Jul 11, 2024 | Jul 11, 2024 | Jul 31, 2024 | $0.405 | 0.135% |
| 3 | Dec 01, 2023 | Apr 04, 2024 | Apr 30, 2024 | $0.410 | 0.145% |
| 4 | Dec 01, 2023 | Jan 04, 2024 | Jan 31, 2024 | $0.405 | 0.145% |
| 5 | Jun 16, 2023 | Jul 06, 2023 | Jul 31, 2023 | $0.375 | 0.163% |
FAQ
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