Red day on Tuesday for Mimecast Limited stock after losing 0.58%StockInvest.us, 4 months ago
The Mimecast Limited stock price fell by -0.58% on the last day (Tuesday, 18th Jan 2022) from $80.36 to $79.89. and has now fallen 3 days in a row. During the day the stock fluctuated 0.63% from a day low at $79.75 to a day high of $80.26. The price has fallen in 6 of the last 10 days, but is still up by 0.73% 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 -725 thousand shares and in total, 2 million shares were bought and sold for approximately $173.22 million.
On Jan 14, 2022 "Sumitomo Mitsui Financial Group" gave "$82.00" rating for MIME. The price target was changed from $80.36 to 0.1%.
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 7.98% during the next 3 months and, with a 90% probability hold a price between $80.43 and $95.96 at the end of this 3-month period.
The Mimecast Limited 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 $79.52 and $79.12. A breakdown below any of these levels will issue sell signals. 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 Wednesday, November 17, 2021, and so far it has fallen -5.49%. 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). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Mimecast Limited finds support from accumulated volume at $79.40 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 $0.50 between high and low, or 0.63%. For the last week the stock has had a daily average volatility of 0.60%.
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 Mimecast Limited stock to perform well in the short-term.Check full Mimecast Limited forecast and analysis here.