Mission Produce Inc. Stock Forecast
Green day on Friday for Mission Produce Inc.
(Updated on May 31, 2024)
The Mission Produce Inc. stock price gained 0.169% on the last trading day (Friday, 31st May 2024), rising from $11.83 to $11.85. During the last trading day the stock fluctuated 1.36% from a day low at $11.77 to a day high of $11.93. The price has fallen in 8 of the last 10 days and is down by -6.47% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 99 thousand more shares were traded than the day before. In total, 239 thousand shares were bought and sold for approximately $2.83 million.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $11.57 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 7.82% during the next 3 months and, with a 90% probability hold a price between $12.47 and $14.02 at the end of this 3-month period.
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AVO Signals & Forecast
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 Mission Produce Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $12.12 and $11.89. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, May 17, 2024, and so far it has fallen -7.93%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Mission Produce Inc. stock
Mission Produce Inc. finds support from accumulated volume at $11.82 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 $0.160 between high and low, or 1.36%. For the last week, the stock has had daily average volatility of 1.82%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (AVO) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Mission Produce Inc. to open at $11.85, and during the day (based on 14 day Average True Range), to move between $11.59 and $12.11, which gives a possible trading interval of +/-$0.262 (+/-2.21%) up or down from last closing price. If Mission Produce Inc. takes out the full calculated possible swing range there will be an estimated 4.42% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $11.87 (0.17%) than the support at $11.82 (0.25%), 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.
Earnings coming up
Mission Produce Inc. will release earnings AMC on Thursday, June 06, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.0100. We will update the financials statements for Mission Produce Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.55% in the first trading day after earnings release.
Is Mission Produce Inc. stock A Buy?
The Mission Produce Inc. stock holds several negative signals and despite the positive trend, we believe Mission Produce Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.695 Sell Candidate Unchanged
Predicted Opening Price for Mission Produce Inc. of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| $11.85 ( 0%) | $11.85 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AVO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 12.01 | 1.35 % | |
| R2 | 11.95 | 0.83 % | ||
| R1 | 11.91 | 0.516 % | ||
| Current price: | 11.85 | |||
| Support | S1 | 11.79 | -0.516 % | |
| S2 | 11.75 | -0.83 % | ||
| S3 | 11.69 | -1.35 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 12.07 | 1.86 % | |
| R2 | 12.00 | 1.27 % | ||
| R1 | 11.87 | 0.169 % | ||
| Current price | 11.85 | |||
| Support | S1 | 11.82 | -0.253% | |
| S2 | 11.48 | -3.12% | ||
| S3 | 11.46 | -3.29% |
FAQ
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