Mobileye Global Inc. Stock Forecast
On Thursday, Mobileye Global Inc. stock price gained an impressive 5.65%
(Updated on May 02, 2024)
The Mobileye Global Inc. stock price gained 5.65% on the last trading day (Thursday, 2nd May 2024), rising from $28.87 to $30.50. During the last trading day the stock fluctuated 4.45% from a day low at $29.24 to a day high of $30.54. The price has fallen in 6 of the last 10 days and is down by -1.55% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 27 thousand more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately $76.79 million.
The stock lies in the middle of a very wide and 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 21.40% during the next 3 months and, with a 90% probability hold a price between $33.69 and $42.41 at the end of this 3-month period.
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MBLY Signals & Forecast
There are mixed signals in the stock today. The Mobileye Global Inc. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $30.66. On a fall, the stock will find some support from the short-term average at $29.45. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Tuesday, April 02, 2024, and so far it has fallen -6.76%. 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 is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Mobileye Global Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $27.81 and $26.10. 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, Mobileye Global Inc. finds support just below today's level at $27.81. If this is broken, then the next support from accumulated volume will be at $26.10 and $25.36.
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 $1.30 between high and low, or 4.45%. For the last week, the stock has had daily average volatility of 5.47%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MBLY) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Mobileye Global Inc. to open at $30.09, and during the day (based on 14 day Average True Range), to move between $28.96 and $32.04, which gives a possible trading interval of +/-$1.54 (+/-5.06%) up or down from last closing price. If Mobileye Global Inc. takes out the full calculated possible swing range there will be an estimated 10.12% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $30.90 (1.31%) than the support at $27.81 (8.82%), 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 Mobileye Global Inc. stock A Buy?
Mobileye Global Inc. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -3.665 Sell Candidate Unchanged
Predicted Opening Price for Mobileye Global Inc. of Friday, May 3, 2024
Fair opening price May 3, 2024 | Current price |
---|---|
$30.09 ( 1.33%) | $30.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MBLY
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 31.39 | 2.93 % | |
R2 | 30.90 | 1.30 % | ||
R1 | 30.59 | 0.295 % | ||
Current price: | 30.50 | |||
Support | S1 | 29.60 | -2.96 % | |
S2 | 29.29 | -3.97 % | ||
S3 | 28.79 | -5.60 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 31.78 | 4.20 % | |
R2 | 31.40 | 2.95 % | ||
R1 | 30.90 | 1.31 % | ||
Current price | 30.50 | |||
Support | S1 | 27.81 | -8.82% | |
S2 | 26.10 | -14.43% | ||
S3 | 25.36 | -16.85% |
FAQ
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