Mistras Group Inc Stock Forecast
Mistras Group Inc stock price fell more than -5.29% Monday closing at $8.95
(Updated on May 06, 2024)
The Mistras Group Inc stock price fell by -5.29% on the last day (Monday, 6th May 2024) from $9.45 to $8.95. During the last trading day the stock fluctuated 5.03% from a day low at $8.95 to a day high of $9.40. The price has been going up and down for this period, and there has been a -1.86% loss for the last 2 weeks. Volume has increased on the last day by 8 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 79 thousand shares were bought and sold for approximately $707.97 thousand.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $8.82 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 11.98% during the next 3 months and, with a 90% probability hold a price between $9.88 and $11.33 at the end of this 3-month period.
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MG Signals & Forecast
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. The Mistras Group Inc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $9.06 and $9.26. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 03, 2024, and so far it has fallen -7.83%. Further fall is indicated until a new bottom pivot has been found. Mistras Group Inc gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for Mistras Group Inc stock
Mistras Group Inc finds support from accumulated volume at $8.94 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 $0.450 (5.03%) between high and low. For the last week, the stock has had daily average volatility of 4.88%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MG) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Mistras Group Inc to open at $9.10, and during the day (based on 14 day Average True Range), to move between $8.56 and $9.34, which gives a possible trading interval of +/-$0.389 (+/-4.35%) up or down from last closing price. If Mistras Group Inc takes out the full calculated possible swing range there will be an estimated 8.70% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $8.94 (0.11%) than the resistance at $9.24 (3.24%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Mistras Group Inc stock A Buy?
The Mistras Group Inc stock holds several negative signals and despite the positive trend, we believe Mistras Group Inc will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.
Current score: -4.395 Sell Candidate Downgraded
Predicted Opening Price for Mistras Group Inc of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| $9.10 ( 1.68%) | $8.95 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MG
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.55 | 6.70 % | |
| R2 | 9.38 | 4.78 % | ||
| R1 | 9.27 | 3.60 % | ||
| Current price: | 8.95 | |||
| Support | S1 | 8.93 | -0.245 % | |
| S2 | 8.82 | -1.43 % | ||
| S3 | 8.65 | -3.35 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.45 | 5.59 % | |
| R2 | 9.31 | 4.02 % | ||
| R1 | 9.24 | 3.24 % | ||
| Current price | 8.95 | |||
| Support | S1 | 8.94 | -0.112% | |
| S2 | 8.93 | -0.223% | ||
| S3 | 8.91 | -0.447% |
FAQ
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