MasterCraft Boat Holdings, Inc. Stock Forecast
MasterCraft Boat Holdings, Inc. stock price ended at $17.76 on Tuesday, after losing 1.11%.
(Updated on Jul 02, 2024)
The MasterCraft Boat Holdings, Inc. stock price fell by -1.11% on the last day (Tuesday, 2nd Jul 2024) from $17.96 to $17.76. During the last trading day the stock fluctuated 3.01% from a day low at $17.55 to a day high of $18.08. The price has fallen in 7 of the last 10 days and is down by -11.07% for this period. Volume has increased on the last day by 179 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 380 thousand shares were bought and sold for approximately $6.75 million.
The stock has broken the wide and falling short-term trend down. Firstly a stronger fallrate is indicated, but false breaks and "sell-off" may occur. However, a further fall is realistic and any reactions back to the breaking point ($18.17) are considered to be a "second chance" to get out. According to the fan-theory $15.77 will represent the new bottom line of the next trend, but it is far too early to say this for certain.
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MCFT Signals & Forecast
There are few to no technical positive signals at the moment. The MasterCraft Boat Holdings, Inc. 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 $18.77 and $20.20. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, June 03, 2024, and so far it has fallen -17.20%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for MasterCraft Boat Holdings, Inc. stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $0.528 between high and low, or 3.01%. For the last week, the stock has had daily average volatility of 2.84%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MCFT) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect MasterCraft Boat Holdings, Inc. to open at $17.80, and during the day (based on 14 day Average True Range), to move between $17.12 and $18.40, which gives a possible trading interval of +/-$0.640 (+/-3.60%) up or down from last closing price. If MasterCraft Boat Holdings, Inc. takes out the full calculated possible swing range there will be an estimated 7.20% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $19.79, some $2.03 (11.43%) from the current price of $17.76, our system finds the risk reward not very attractive.
Is MasterCraft Boat Holdings, Inc. stock A Buy?
MasterCraft Boat Holdings, Inc. holds several negative signals and is within a wide 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.
Current score: -7.288 Strong Sell Candidate Unchanged
Predicted Opening Price for MasterCraft Boat Holdings, Inc. of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $17.80 ( 0.203%) | $17.76 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MCFT
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 18.32 | 3.18% |
| R2 | 18.12 | 2.04% |
| R1 | 18.00 | 1.34% |
| Price | 17.76 | |
| S1 | 17.59 | -0.93% |
| S2 | 17.47 | -1.63% |
| S3 | 17.27 | -2.77% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 21.10 | 18.81% |
| R2 | 19.97 | 12.44% |
| R1 | 19.79 | 11.43% |
| Price | 17.76 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
MCFT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 27, 2016 | Jun 13, 2016 | Jun 10, 2016 | $4.30 | 27.42% |
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