Masonite International Corporation Stock Forecast
Weaker technical forecast for Masonite International Corporation as stock downgraded to Buy Candidate.
(Updated on Apr 26, 2024)
The Masonite International Corporation stock price fell by -0.106% on the last day (Friday, 26th Apr 2024) from $131.75 to $131.61. During the last trading day the stock fluctuated 0.388% from a day low at $131.43 to a day high of $131.94. The price has risen in 6 of the last 10 days and is up by 0.54% over the past 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 -243 thousand shares and in total, 384 thousand shares were bought and sold for approximately $50.60 million.
The stock lies in the middle of a very 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 23.75% during the next 3 months and, with a 90% probability hold a price between $145.16 and $181.77 at the end of this 3-month period.
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DOOR Signals & Forecast
The Masonite International Corporation 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 $131.47 and $131.13. 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, April 25, 2024, and so far it has fallen -0.106%. 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. The stock had a Golden Star Signal on Thursday, April 18, 2024 in the short-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
The stock had a Golden Star Signal on Thursday, April 18, 2024 in the short-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 Masonite International Corporation stock
Masonite International Corporation finds support from accumulated volume at $130.51 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 $0.510 between high and low, or 0.388%. For the last week the stock has had daily average volatility of 0.390%.
Our recommended stop-loss: $126.66 (-3.76%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (DOOR) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Masonite International Corporation to open at $131.66, and during the day (based on 14 day Average True Range), to move between $130.99 and $132.23, which gives a possible trading interval of +/-$0.621 (+/-0.47%) up or down from last closing price. If Masonite International Corporation takes out the full calculated possible swing range there will be an estimated 0.94% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $131.75 (0.11%) than the support at $130.51 (0.84%), 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 Masonite International Corporation 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 Masonite International Corporation 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: 1.009 Buy Candidate Downgraded
Predicted Opening Price for Masonite International Corporation of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $131.66 ( 0.0380%) | $131.61 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DOOR
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 132.17 | 0.425 % | |
| R2 | 131.98 | 0.277 % | ||
| R1 | 131.85 | 0.186 % | ||
| Current price: | 131.61 | |||
| Support | S1 | 131.47 | -0.110 % | |
| S2 | 131.34 | -0.201 % | ||
| S3 | 131.15 | -0.350 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 131.75 | 0.106 % | ||
| Current price | 131.61 | |||
| Support | S1 | 130.51 | -0.84% | |
| S2 | 130.00 | -1.22% | ||
| S3 | 129.76 | -1.41% |
FAQ
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