MC Mining Ltd Stock Forecast
Weaker technical forecast for MC Mining Ltd as stock downgraded to Hold/Accumulate.
(Updated on May 07, 2024)
No changes to the price of MC Mining Ltd stock on the last trading day (Tuesday, 7th May 2024). During the last trading day the stock fluctuated 0% from a day low at £8.00 to a day high of £8.00. The price has been going up and down for this period, and there has been a 1.52% gain for the last 2 weeks.
The stock lies in the middle of a 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 14.14% during the next 3 months and, with a 90% probability hold a price between £8.81 and £10.22 at the end of this 3-month period.
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MCM.L Signals & Forecast
The MC Mining Ltd stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at £8.00 and £7.70. A breakdown below any of these levels will issue sell signals. 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 Friday, May 03, 2024, and so far it has fallen 0%. 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 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 MC Mining Ltd stock
MC Mining Ltd finds support from accumulated volume at £7.88 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 1.19%
Our recommended stop-loss: £7.69 (-3.90%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (MCM.L) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect MC Mining Ltd to open at £8.00, and during the day (based on 14 day Average True Range), to move between £7.81 and £8.19, which gives a possible trading interval of +/-£0.187 (+/-2.33%) up or down from last closing price. If MC Mining Ltd takes out the full calculated possible swing range there will be an estimated 4.66% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £8.08 (0.94%) than the support at £7.88 (1.56%), 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 MC Mining Ltd stock A Buy?
MC Mining Ltd holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for MC Mining Ltd of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| £8.00 ( 0%) | £8.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MCM.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.00 | . | |
| R2 | 8.00 | . | ||
| R1 | 8.00 | . | ||
| Current price: | 8.00 | |||
| Support | S1 | 8.00 | . | |
| S2 | 8.00 | . | ||
| S3 | 8.00 | . |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.25 | 3.13 % | |
| R2 | 8.13 | 1.56 % | ||
| R1 | 8.08 | 0.94 % | ||
| Current price | 8.00 | |||
| Support | S1 | 7.88 | -1.56% | |
| S2 | 7.25 | -9.38% | ||
| S3 | 7.00 | -12.50% |
MCM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 27, 2014 | Apr 02, 2014 | Jun 18, 2014 | £3.60 | 4.55% |
| 2 | Oct 02, 2013 | Oct 02, 2013 | Oct 02, 2013 | £1.80 | 1.08% |
| 3 | Mar 27, 2013 | Mar 27, 2013 | Mar 27, 2013 | £3.00 | 1.05% |
| 4 | Oct 03, 2012 | Oct 03, 2012 | Oct 03, 2012 | £1.50 | 0.484% |
| 5 | Apr 04, 2012 | Apr 04, 2012 | Apr 04, 2012 | £2.85 | 0.230% |
FAQ
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