Monterey Capital Acquisition Corporation Stock Forecast

Monterey Capital Acquisition Corporation stock price ended at $0.160 on Friday, after losing 0%.
(Updated on Jun 21, 2024)

MCACR Signals & Forecast

The Monterey Capital Acquisition Corporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $0.146 and $0.148. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Tuesday, May 28, 2024, and so far it has fallen -11.06%. Further fall is indicated until a new bottom pivot has been found. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Monterey Capital Acquisition Corporation stock

On the downside, the stock finds support just below today's level from accumulated volume at $0.140 and $0.140. 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, Monterey Capital Acquisition Corporation finds support just below today's level at $0.140. If this is broken, then the next support from accumulated volume will be at $0.140 and $0.130.

This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.0090 between high and low, or 5.96%. For the last week the stock has had daily average volatility of 6.65%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (MCACR) For The Upcoming Trading Day Of Monday 24th

For the upcoming trading day on Monday, 24th we expect Monterey Capital Acquisition Corporation to open at $0.157, and during the day (based on 14 day Average True Range), to move between $0.146 and $0.174, which gives a possible trading interval of +/-$0.0143 (+/-8.91%) up or down from last closing price. If Monterey Capital Acquisition Corporation takes out the full calculated possible swing range there will be an estimated 17.83% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.170 (6.25%) than the support at $0.140 (12.50%), 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 Monterey Capital Acquisition Corporation stock A Buy?

Monterey Capital Acquisition Corporation 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: -1.591 Sell Candidate Unchanged

Predicted Opening Price for Monterey Capital Acquisition Corporation of Monday, June 24, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.