Mission Produce Inc. Stock Forecast
Mission Produce Inc. stock price up 0.350% on Thursday
(Updated on Apr 18, 2024)
The Mission Produce Inc. stock price gained 0.350% on the last trading day (Thursday, 18th Apr 2024), rising from $11.44 to $11.48. During the last trading day the stock fluctuated 1.84% from a day low at $11.39 to a day high of $11.60. The price has risen in 6 of the last 10 days but is still down by -2.05% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 114 thousand more shares were traded than the day before. In total, 298 thousand shares were bought and sold for approximately $3.43 million.
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 $11.46 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 18.45% during the next 3 months and, with a 90% probability hold a price between $13.57 and $15.17 at the end of this 3-month period.
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AVO Signals & Forecast
There are mixed signals in the stock today. The Mission Produce Inc. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $11.51. On a fall, the stock will find some support from the short-term average at $11.43. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Friday, March 15, 2024, and so far it has fallen -4.89%. 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 is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Mission Produce Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $10.70 and $10.29. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Mission Produce Inc. finds support just below today's level at $10.70. If this is broken, then the next support from accumulated volume will be at $10.29 and $10.21.
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 $0.210 between high and low, or 1.84%. For the last week the stock has had daily average volatility of 1.99%.
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 Friday 19th
For the upcoming trading day on Friday, 19th we expect Mission Produce Inc. to open at $11.49, and during the day (based on 14 day Average True Range), to move between $11.21 and $11.75, which gives a possible trading interval of +/-$0.272 (+/-2.37%) up or down from last closing price. If Mission Produce Inc. takes out the full calculated possible swing range there will be an estimated 4.73% 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 (3.40%) than the support at $10.70 (6.79%), 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 Mission Produce Inc. stock A Buy?
Mission Produce Inc. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -2.289 Sell Candidate Unchanged
Predicted Opening Price for Mission Produce Inc. of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $11.49 ( 0.0871%) | $11.48 |
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 | 11.70 | 1.92 % | |
| R2 | 11.62 | 1.22 % | ||
| R1 | 11.57 | 0.786 % | ||
| Current price: | 11.48 | |||
| Support | S1 | 11.41 | -0.612 % | |
| S2 | 11.36 | -1.04 % | ||
| S3 | 11.28 | -1.74 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 12.07 | 5.14 % | |
| R2 | 12.00 | 4.53 % | ||
| R1 | 11.87 | 3.40 % | ||
| Current price | 11.48 | |||
| Support | S1 | 10.70 | -6.79% | |
| S2 | 10.29 | -10.37% | ||
| S3 | 10.21 | -11.06% |
FAQ
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