Green day on Monday for Middlefield Banc Corp.
(Updated on Nov 27, 2023)
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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 5.67% during the next 3 months and, with a 90% probability hold a price between $27.24 and $31.73 at the end of this 3-month period.
MBCN Signals & Forecast
Mostly positive signals in the chart today. The Middlefield Banc Corp. 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 $28.58 and $27.14. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, October 24, 2023, and so far it has risen 15.44%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Middlefield Banc Corp. 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.
Support, Risk & Stop-loss for Middlefield Banc Corp. stock
Middlefield Banc Corp. finds support from accumulated volume at $28.75 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 $0.220 between high and low, or 0.762%. For the last week, the stock has had daily average volatility of 2.19%.
Our recommended stop-loss: $27.68 (-4.81%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 23 days ago.)
Trading Expectations (MBCN) For The Upcoming Trading Day Of Tuesday 28th
For the upcoming trading day on Tuesday, 28th we expect Middlefield Banc Corp. to open at $29.01, and during the day (based on 14 day Average True Range), to move between $28.26 and $29.90, which gives a possible trading interval of +/-$0.82 (+/-2.81%) up or down from last closing price. If Middlefield Banc Corp. takes out the full calculated possible swing range there will be an estimated 5.62% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $28.75, some $0.330 (1.13%) from the current price of $29.08, our system finds the risk reward attractive.
Is Middlefield Banc Corp. 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 Middlefield Banc Corp. stock to perform well in the short-term.
Current score: 3.159 Open Broker AccountBuy Candidate Unchanged
Predicted Opening Price for Middlefield Banc Corp. of Tuesday, November 28, 2023
The predicted opening price is based on yesterday's movements between high, low, and closing price.
|Fair opening price November 28, 2023||Current price|
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Fibonacci Support & Resistance Levels
Accumulated Volume Support & Resistance Levels
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