Medallion Bank Stock Forecast
Stronger technical forecast for Medallion Bank stock price after Friday trading.
(Updated on Jun 28, 2024)
The Medallion Bank stock price gained 1.01% on the last trading day (Friday, 28th Jun 2024), rising from $24.75 to $25.00. During the last trading day the stock fluctuated 2.00% from a day low at $24.51 to a day high of $25.00. The price has fallen in 5 of the last 10 days and is down by -0.83% for this period. Volume fell on the last day by -8 thousand shares and in total, 1 thousand shares were bought and sold for approximately $29.75 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock is moving within a narrow and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Medallion Bank stock with a 90% probability to be traded between $24.95 and $25.68 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 mixed signals in the stock today. The Medallion Bank 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 $25.04. On a fall, the stock will find some support from the short-term average at $24.91. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued. A buy signal was issued from a pivot bottom point on Thursday, June 27, 2024, and so far it has risen 1.01%. Further rise is indicated until a new top pivot has been found.
Support, Risk & Stop-loss for Medallion Bank stock
Medallion Bank finds support from accumulated volume at $24.86 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 $0.490 between high and low, or 2.00%. For the last week the stock has had daily average volatility of 0.94%
Our recommended stop-loss: $23.60 (-5.60%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 14 days ago.)
Trading Expectations (MBNKP) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Medallion Bank to open at $24.84, and during the day (based on 14 day Average True Range), to move between $24.82 and $25.18, which gives a possible trading interval of +/-$0.183 (+/-0.73%) up or down from last closing price. If Medallion Bank takes out the full calculated possible swing range there will be an estimated 1.47% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $24.86 (0.56%) than the resistance at $25.18 (0.70%), 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?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Medallion Bank stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 2.541 Buy Candidate Upgraded
Predicted Opening Price for Medallion Bank of Monday, July 1, 2024
Fair opening price July 1, 2024 | Current price |
---|---|
$24.84 ( 0.653%) | $25.00 |
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 | 25.33 | 1.31% |
R2 | 25.14 | 0.558% |
R1 | 25.02 | 0.0954% |
Price | 25.00 | |
S1 | 24.65 | -1.40% |
S2 | 24.53 | -1.86% |
S3 | 24.35 | -2.61% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 25.21 | 0.84% |
R2 | 25.18 | 0.720% |
R1 | 25.18 | 0.705% |
Price | 25.00 | |
S1 | 24.86 | -0.560% |
S2 | 24.75 | -1.00% |
S3 | 24.50 | -2.00% |
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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