Macmahon Holdings Limited Stock Forecast
Macmahon Holdings Limited stock price up 2.04% on Friday
(Updated on May 03, 2024)
The Macmahon Holdings Limited stock price gained 2.04% on the last trading day (Friday, 3rd May 2024), rising from $0.245 to $0.250. During the last trading day the stock fluctuated 2.04% from a day low at $0.245 to a day high of $0.250. The price has risen in 5 of the last 10 days and is up by 4.17% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 914 thousand more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately $713.52 thousand.
The stock lies in the middle of a strong 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 50.04% during the next 3 months and, with a 90% probability hold a price between $0.360 and $0.391 at the end of this 3-month period.
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MAH.AX Signals & Forecast
The Macmahon Holdings 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 $0.250 and $0.232. A breakdown below any of these levels will issue sell signals. Macmahon Holdings Limited has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. 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 Monday, April 29, 2024, and so far it has fallen -1.96%. 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).
Support, Risk & Stop-loss for Macmahon Holdings Limited stock
Macmahon Holdings Limited finds support from accumulated volume at $0.245 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 $0.0050 between high and low, or 2.04%. For the last week, the stock has had daily average volatility of 3.69%.
Our recommended stop-loss: $0.239 (-4.57%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 4 days ago.)
Trading Expectations (MAH.AX) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Macmahon Holdings Limited to open at $0.248, and during the day (based on 14 day Average True Range), to move between $0.239 and $0.261, which gives a possible trading interval of +/-$0.0114 (+/-4.55%) up or down from last closing price. If Macmahon Holdings Limited takes out the full calculated possible swing range there will be an estimated 9.11% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.255 (2.00%) than the support at $0.245 (2.00%), 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 Macmahon Holdings Limited 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 Macmahon Holdings Limited stock to perform well in the short-term.
Current score: 4.195 Buy Candidate Unchanged
Predicted Opening Price for Macmahon Holdings Limited of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $0.248 ( 0.667%) | $0.250 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MAH.AX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.253 | 1.33 % | |
| R2 | 0.251 | 0.569 % | ||
| R1 | 0.250 | 0.0973 % | ||
| Current price: | 0.250 | |||
| Support | S1 | 0.246 | -1.43 % | |
| S2 | 0.245 | -1.90 % | ||
| S3 | 0.243 | -2.67 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0.255 | 2.00 % | ||
| Current price | 0.250 | |||
| Support | S1 | 0.245 | -2.00% | |
| S2 | 0.235 | -6.00% | ||
| S3 | 0.225 | -10.00% |
MAH Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 20, 2024 | Mar 20, 2024 | Apr 11, 2024 | $0.0045 | 1.91% |
| 2 | Mar 16, 2023 | Mar 16, 2023 | Mar 16, 2023 | $0.0030 | 2.22% |
| 3 | Sep 21, 2022 | Sep 21, 2022 | Sep 21, 2022 | $0.0035 | 2.33% |
| 4 | Mar 15, 2022 | Mar 15, 2022 | Mar 15, 2022 | $0.0030 | 1.71% |
| 5 | Oct 07, 2021 | Oct 07, 2021 | Oct 07, 2021 | $0.0035 | 1.79% |
FAQ
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