Medical Facilities Corporation Stock Forecast
Weaker technical forecast for Medical Facilities Corporation as stock downgraded to Hold/Accumulate.
(Updated on May 01, 2024)
The Medical Facilities Corporation stock price fell by -1.24% on the last day (Wednesday, 1st May 2024) from $11.30 to $11.16. During the last trading day the stock fluctuated 2.53% from a day low at $11.08 to a day high of $11.36. The price has fallen in 6 of the last 10 days but is still up by 1.36% 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 -17 thousand shares and in total, 63 thousand shares were bought and sold for approximately $702.37 thousand.
The stock lies in the upper part of a wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $11.33 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 21.70% during the next 3 months and, with a 90% probability hold a price between $12.44 and $13.79 at the end of this 3-month period.
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DR.TO Signals & Forecast
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 $11.09 and $10.71. 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 Tuesday, April 30, 2024, and so far it has fallen -1.24%. 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 along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
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 controlled movements and therefore the general risk is considered 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 $0.280 between high and low, or 2.53%. For the last week the stock has had daily average volatility of 2.44%.
Our recommended stop-loss: $10.67 (-4.35%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (DR.TO) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Medical Facilities Corporation to open at $11.20, and during the day (based on 14 day Average True Range), to move between $10.92 and $11.40, which gives a possible trading interval of +/-$0.238 (+/-2.14%) up or down from last closing price. If Medical Facilities Corporation takes out the full calculated possible swing range there will be an estimated 4.27% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $11.18 (0.18%) than the support at $10.15 (9.05%), 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
Medical Facilities Corporation will release earnings BMO on Thursday, May 09, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.360. We will update the financials statements for Medical Facilities Corporation, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 8.36% in the first trading day after earnings release.
Is Medical Facilities Corporation stock A Buy?
Medical Facilities Corporation holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Hold/Accumulate candidate.
Current score: 0.798 Hold/Accumulate Downgraded
Predicted Opening Price for Medical Facilities Corporation of Thursday, May 2, 2024
Fair opening price May 2, 2024 | Current price |
---|---|
$11.20 ( 0.358%) | $11.16 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DR.TO
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 11.48 | 2.87 % | |
R2 | 11.37 | 1.91 % | ||
R1 | 11.31 | 1.32 % | ||
Current price: | 11.16 | |||
Support | S1 | 11.09 | -0.600 % | |
S2 | 11.03 | -1.19 % | ||
S3 | 10.92 | -2.15 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 11.30 | 1.25 % | ||
R1 | 11.18 | 0.179 % | ||
Current price | 11.16 | |||
Support | S1 | 10.15 | -9.05% | |
S2 | 10.05 | -9.95% | ||
S3 | 9.33 | -16.40% |
DR Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 27, 2024 | Mar 27, 2024 | Apr 15, 2024 | $0.0805 | 0.732% |
2 | Dec 28, 2023 | Dec 28, 2023 | Dec 28, 2023 | $0 | 0% |
3 | Jun 21, 2023 | Jun 29, 2023 | Jul 17, 2023 | $0.0810 | 1.00% |
4 | Mar 22, 2023 | Mar 30, 2023 | Apr 17, 2023 | $0.0810 | 1.00% |
5 | Dec 19, 2022 | Dec 29, 2022 | Jan 16, 2023 | $0.0810 | 0.96% |
FAQ
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