Medical Facilities Corporation Stock Forecast

Medical Facilities Corporation stock upgraded to Buy Candidate.
(Updated on May 02, 2024)

DR.TO Signals & Forecast

There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Tuesday, April 30, 2024, and so far it has fallen -0.531%. 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 during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not. The Medical Facilities 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 $11.11 and $10.76. A breakdown below any of these levels will issue sell signals.

Support, Risk & Stop-loss for Medical Facilities Corporation stock

On the downside, the stock finds support just below today's level from accumulated volume at $10.15 and $10.05. 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, Medical Facilities Corporation finds support just below today's level at $10.15. If this is broken, then the next support from accumulated volume will be at $10.05 and $9.33.

In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0.120 between high and low, or 1.07%. For the last week the stock has had daily average volatility of 2.09%

Our recommended stop-loss: $10.85 (-3.51%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 2 days ago.)

Trading Expectations (DR.TO) For The Upcoming Trading Day Of Friday 3rd

For the upcoming trading day on Friday, 3rd we expect Medical Facilities Corporation to open at $11.24, and during the day (based on 14 day Average True Range), to move between $11.01 and $11.47, which gives a possible trading interval of +/-$0.232 (+/-2.06%) up or down from last closing price. If Medical Facilities Corporation takes out the full calculated possible swing range there will be an estimated 4.12% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $11.30 (0.53%) than the support at $10.15 (9.70%), 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 Medical Facilities 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 Medical Facilities Corporation stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 2.318 Buy Candidate Upgraded

Predicted Opening Price for Medical Facilities Corporation of Friday, May 3, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.