McPherson's Limited Stock Forecast

A very red day for McPherson's Limited stock price after a -5.10% fall in the Monday trading session
(Updated on May 20, 2024)

MCP.AX Signals & Forecast

A buy signal was issued from a pivot bottom point on Tuesday, May 14, 2024, and so far it has risen 1.09%. Further rise is indicated until a new top pivot has been found. 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. The McPherson's Limited 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 $0.479 and $0.506. A break-up above any of these levels will issue buy signals. McPherson's Limited gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for McPherson's Limited stock

McPherson's Limited finds support from accumulated volume at $0.460 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.0300 (6.52%) between high and low. For the last week, the stock has had daily average volatility of 3.68%.

Our recommended stop-loss: $0.445 (-4.38%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 57 days ago.)

Trading Expectations (MCP.AX) For The Upcoming Trading Day Of Tuesday 21st

For the upcoming trading day on Tuesday, 21st we expect McPherson's Limited to open at $0.472, and during the day (based on 14 day Average True Range), to move between $0.451 and $0.479, which gives a possible trading interval of +/-$0.0141 (+/-3.02%) up or down from last closing price. If McPherson's Limited takes out the full calculated possible swing range there will be an estimated 6.05% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.460 (1.08%) than the resistance at $0.475 (2.15%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is McPherson's Limited stock A Buy?

McPherson's Limited holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: 0.000 Hold/Accumulate Upgraded

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 McPherson's Limited of Tuesday, May 21, 2024

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