Medallion Bank Stock Forecast
Evaluation of Medallion Bank stock downgraded after the last trading session.
(Updated on Jun 25, 2024)
The Medallion Bank stock price fell by -0.418% on the last day (Tuesday, 25th Jun 2024) from $24.92 to $24.82. During the last trading day the stock fluctuated 0% from a day low at $24.82 to a day high of $24.82. The price has fallen in 6 of the last 10 days and is down by -1.63% for this period. 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 -3 thousand shares and in total, 884 shares were bought and sold for approximately $21.94 thousand.
The stock is at the lower part of a narrow and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $24.74 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Medallion Bank stock with a 90% probability to be traded between $25.12 and $25.89 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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MBNKP Signals & Forecast
There are few to no technical positive signals at the moment. The Medallion Bank stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $24.94 and $25.04. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, June 07, 2024, and so far it has fallen -1.70%. 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. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Medallion Bank stock
Medallion Bank finds support from accumulated volume at $24.81 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and therefore the general risk is considered very 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 between high and low, or 0%. For the last week the stock has had daily average volatility of 0.0689%
Medallion Bank is oversold on RSI14 (24). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MBNKP) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Medallion Bank to open at $24.82, and during the day (based on 14 day Average True Range), to move between $24.70 and $24.94, which gives a possible trading interval of +/-$0.125 (+/-0.50%) up or down from last closing price. If Medallion Bank takes out the full calculated possible swing range there will be an estimated 1.01% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $24.81 (0.04%) than the resistance at $25.00 (0.73%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Medallion Bank stock A Buy?
Medallion Bank holds several negative signals and is within a narrow and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.267 Sell Candidate Downgraded
Predicted Opening Price for Medallion Bank of Wednesday, June 26, 2024
Fair opening price June 26, 2024 | Current price |
---|---|
$24.82 ( 0.00000000%) | $24.82 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MBNKP
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 24.82 | 0.00000000% |
R2 | 24.82 | 0.00000000% |
R1 | 24.82 | 0.00000000% |
Price | 24.82 | |
S1 | 24.82 | 0.00000000% |
S2 | 24.82 | 0.00000000% |
S3 | 24.82 | 0.00000000% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 25.21 | 1.57% |
R2 | 25.18 | 1.44% |
R1 | 25.00 | 0.725% |
Price | 24.82 | |
S1 | 24.81 | -0.0403% |
S2 | 24.60 | -0.89% |
S3 | 24.50 | -1.29% |
MBNKP Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 25, 2024 | Jun 15, 2024 | Jul 01, 2024 | $0.500 | 2.00% |
2 | Apr 25, 2024 | Jun 14, 2024 | Jul 01, 2024 | $0.500 | 2.00% |
3 | Jan 25, 2024 | Mar 14, 2024 | Apr 01, 2024 | $0.500 | 2.03% |
4 | Oct 26, 2023 | Dec 14, 2023 | Jan 02, 2024 | $0.500 | 2.10% |
5 | Jul 27, 2023 | Sep 14, 2023 | Oct 02, 2023 | $0.500 | 2.17% |
FAQ
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