Mill City Ventures III, Ltd. Stock Forecast
Red day on Friday for Mill City Ventures III, Ltd. stock after losing 0%
(Updated on May 17, 2024)
No changes to the price of Mill City Ventures III, Ltd. stock on the last trading day (Friday, 17th May 2024). During the last trading day the stock fluctuated 9.60% from a day low at $2.50 to a day high of $2.74. The price has been going up and down for this period, and there has been a 0% change for the last 2 weeks.
The stock has broken the wide and weak rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at $2.50. A reaction back to this level may hold a second chance to get out before further falls.
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MCVT Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, May 16, 2024, and so far it has fallen 0%. 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). Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Mill City Ventures III, Ltd. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $2.69 and $2.66. A break-up above any of these levels will issue buy signals.
Support, Risk & Stop-loss for Mill City Ventures III, Ltd. 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 $0.240 between high and low, or 9.60%. For the last week, the stock has had daily average volatility of 4.67%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MCVT) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Mill City Ventures III, Ltd. to open at $2.58, and during the day (based on 14 day Average True Range), to move between $2.35 and $2.65, which gives a possible trading interval of +/-$0.152 (+/-6.09%) up or down from last closing price. If Mill City Ventures III, Ltd. takes out the full calculated possible swing range there will be an estimated 12.19% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $2.52, some $0.0200 (0.80%) from the current price of $2.50, our system finds the risk reward not very attractive.
Is Mill City Ventures III, Ltd. stock A Buy?
Mill City Ventures III, Ltd. 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: -3.168 Sell Candidate Unchanged
Predicted Opening Price for Mill City Ventures III, Ltd. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $2.58 ( 3.20%) | $2.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MCVT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.82 | 12.80 % | |
| R2 | 2.73 | 9.13 % | ||
| R1 | 2.67 | 6.87 % | ||
| Current price: | 2.50 | |||
| Support | S1 | 2.49 | -0.467 % | |
| S2 | 2.43 | -2.73 % | ||
| S3 | 2.34 | -6.40 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.78 | 11.20 % | |
| R2 | 2.70 | 8.00 % | ||
| R1 | 2.52 | 0.80 % | ||
| Current price | 2.50 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
MCVT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 24, 2021 | Oct 14, 2021 | Oct 29, 2021 | $0.100 | 2.50% |
| 2 | Dec 07, 2020 | Dec 18, 2020 | Jan 04, 2021 | $0.0500 | 1.97% |
| 3 | Feb 15, 2019 | Mar 07, 2019 | Mar 15, 2019 | $0.0500 | 6.20% |
FAQ
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