Manhattan Bridge Capital Stock Forecast
Weaker technical forecast for Manhattan Bridge Capital as stock downgraded to Hold/Accumulate.
(Updated on Apr 17, 2024)
The Manhattan Bridge Capital stock price fell by -0.194% on the last day (Wednesday, 17th Apr 2024) from $5.05 to $5.04. During the last trading day the stock fluctuated 1.40% from a day low at $5.01 to a day high of $5.08. The price has fallen in 6 of the last 10 days and is down by -2.98% for this period. Volume has increased on the last day by 6 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, 17 thousand shares were bought and sold for approximately $87.50 thousand.
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 6.90% during the next 3 months and, with a 90% probability hold a price between $5.08 and $5.67 at the end of this 3-month period.
LOAN Signals & Forecast
The Manhattan Bridge Capital stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $5.06. On a fall, the stock will find some support from the long-term average at approximately $4.92. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 Thursday, April 04, 2024, and so far it has fallen -4.00%. 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). Manhattan Bridge Capital 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". The very low volume increases the risk and reduces the other technical signals issued. The stock had a Golden Star Signal on Monday, March 18, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star
The stock had a Golden Star Signal on Monday, March 18, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Manhattan Bridge Capital stock
Manhattan Bridge Capital finds support from accumulated volume at $4.80 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.0700 between high and low, or 1.40%. For the last week, the stock has had daily average volatility of 1.72%.
Our recommended stop-loss: $4.85 (-3.84%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 9 days ago.)
Trading Expectations (LOAN) For The Upcoming Trading Day Of Thursday 18th
For the upcoming trading day on Thursday, 18th we expect Manhattan Bridge Capital to open at $5.04, and during the day (based on 14 day Average True Range), to move between $4.93 and $5.15, which gives a possible trading interval of +/-$0.112 (+/-2.22%) up or down from last closing price. If Manhattan Bridge Capital takes out the full calculated possible swing range there will be an estimated 4.45% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $5.07 (0.59%) than the support at $4.80 (4.77%), 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
Manhattan Bridge Capital will release earnings BMO on Wednesday, April 17, 2024. We will update the financials statements for Manhattan Bridge Capital, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.25% in the first trading day after earnings release.
Is Manhattan Bridge Capital stock A Buy?
Manhattan Bridge Capital holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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 Buy to a Hold/Accumulate candidate.
Current score: 0.175 Hold/Accumulate Downgraded
Predicted Opening Price for Manhattan Bridge Capital of Thursday, April 18, 2024
Fair opening price April 18, 2024 | Current price |
---|---|
$5.04 ( 0.0635%) | $5.04 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LOAN
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 5.11 | 1.45 % | |
R2 | 5.09 | 0.92 % | ||
R1 | 5.07 | 0.594 % | ||
Current price: | 5.04 | |||
Support | S1 | 5.02 | -0.467 % | |
S2 | 5.00 | -0.795 % | ||
S3 | 4.97 | -1.33 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 5.20 | 3.17 % | |
R2 | 5.14 | 1.98 % | ||
R1 | 5.07 | 0.591 % | ||
Current price | 5.04 | |||
Support | S1 | 4.80 | -4.77% | |
S2 | 4.77 | -5.36% | ||
S3 | 4.74 | -5.96% |
LOAN Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 08, 2024 | Jul 10, 2024 | Jul 15, 2024 | $0.115 | 2.28% |
2 | Jul 09, 2024 | Jul 09, 2024 | Jul 15, 2024 | $0.115 | 2.28% |
3 | Feb 07, 2024 | Apr 09, 2024 | Apr 15, 2024 | $0.115 | 2.24% |
4 | Nov 28, 2023 | Dec 28, 2023 | Jan 16, 2024 | $0.110 | 2.25% |
5 | Jul 27, 2023 | Oct 09, 2023 | Oct 16, 2023 | $0.112 | 2.41% |
FAQ
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