Mayville Engineering Company, Inc. Stock Forecast
Mayville Engineering Company, Inc. stock price ended at $13.89 on Friday, after gaining 0.507%.
(Updated on May 03, 2024)
The Mayville Engineering Company, Inc. stock price gained 0.507% on the last trading day (Friday, 3rd May 2024), rising from $13.82 to $13.89. During the last trading day the stock fluctuated 2.39% from a day low at $13.80 to a day high of $14.13. The price has fallen in 6 of the last 10 days but is still up by 0.07% over the past 2 weeks. Volume fell on the last day by -9 thousand shares and in total, 39 thousand shares were bought and sold for approximately $535.60 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a wide 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 14.93% during the next 3 months and, with a 90% probability hold a price between $15.23 and $17.77 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
MEC Signals & Forecast
The Mayville Engineering Company, Inc. 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 $13.81 and $13.81. 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 21, 2024, and so far it has fallen -4.14%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not. The stock had a Golden Star Signal on Monday, November 13, 2023 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Monday, November 13, 2023 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Mayville Engineering Company, Inc. stock
Mayville Engineering Company, Inc. finds support from accumulated volume at $13.72 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0.330 between high and low, or 2.39%. For the last week the stock has had daily average volatility of 3.09%
Our recommended stop-loss: $13.30 (-4.23%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 30 days ago.)
Trading Expectations (MEC) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Mayville Engineering Company, Inc. to open at $13.94, and during the day (based on 14 day Average True Range), to move between $13.39 and $14.39, which gives a possible trading interval of +/-$0.497 (+/-3.57%) up or down from last closing price. If Mayville Engineering Company, Inc. takes out the full calculated possible swing range there will be an estimated 7.15% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $13.72 (1.22%) than the resistance at $14.09 (1.44%), 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
Mayville Engineering Company, Inc. will release earnings AMC on Tuesday, May 07, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.170. We will update the financials statements for Mayville Engineering Company, Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.69% in the first trading day after earnings release.
Is Mayville Engineering Company, 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 Mayville Engineering Company, Inc. stock to perform well in the short-term.
Current score: 1.569 Buy Candidate Unchanged
Predicted Opening Price for Mayville Engineering Company, Inc. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $13.94 ( 0.360%) | $13.89 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MEC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 14.27 | 2.73 % | |
| R2 | 14.14 | 1.83 % | ||
| R1 | 14.07 | 1.27 % | ||
| Current price: | 13.89 | |||
| Support | S1 | 13.81 | -0.547 % | |
| S2 | 13.74 | -1.11 % | ||
| S3 | 13.61 | -2.01 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 14.49 | 4.32 % | |
| R2 | 14.33 | 3.17 % | ||
| R1 | 14.09 | 1.44 % | ||
| Current price | 13.89 | |||
| Support | S1 | 13.72 | -1.22% | |
| S2 | 13.44 | -3.24% | ||
| S3 | 13.11 | -5.62% |
FAQ
Click here for our free guide on how to buy Mayville Engineering Company, Inc. Stock.
