MDA Ltd. Stock Forecast
MDA Ltd. stock upgraded to Buy Candidate.
(Updated on Jun 28, 2024)
The MDA Ltd. stock price gained 0.147% on the last trading day (Friday, 28th Jun 2024), rising from $13.64 to $13.66. During the last trading day the stock fluctuated 2.61% from a day low at $13.41 to a day high of $13.76. The price has risen in 6 of the last 10 days and is up by 12.8% over the past 2 weeks. Volume fell on the last day by -241 thousand shares and in total, 250 thousand shares were bought and sold for approximately $3.41 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
Given the current short-term trend, the stock is expected to fall -19.98% during the next 3 months and, with a 90% probability hold a price between $8.39 and $10.93 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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MDA.TO Signals & Forecast
Mostly positive signals in the chart today. The MDA 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 $12.50 and $12.35. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, May 30, 2024, and so far it has risen 17.56%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for MDA Ltd. stock
On the downside, the stock finds support just below today's level from accumulated volume at $12.57 and $11.80. 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, MDA Ltd. finds support just below today's level at $12.57. If this is broken, then the next support from accumulated volume will be at $11.80 and $11.78.
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 $0.350 between high and low, or 2.61%. For the last week, the stock has had daily average volatility of 4.11%.
Our recommended stop-loss: $13.24 (-3.06%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 37 days ago.)
Trading Expectations (MDA.TO) For The Upcoming Trading Day Of Tuesday 2nd
For the upcoming trading day on Tuesday, 2nd we expect MDA Ltd. to open at $13.61, and during the day (based on 14 day Average True Range), to move between $13.24 and $14.08, which gives a possible trading interval of +/-$0.425 (+/-3.11%) up or down from last closing price. If MDA Ltd. takes out the full calculated possible swing range there will be an estimated 6.22% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $13.89 (1.68%) than the support at $12.57 (7.98%), 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 MDA Ltd. stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 3.318 Buy Candidate Upgraded
Predicted Opening Price for MDA Ltd. of Tuesday, July 2, 2024
| Fair opening price July 2, 2024 | Current price |
|---|---|
| $13.61 ( 0.366%) | $13.66 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MDA.TO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 13.96 | 2.20% |
| R2 | 13.83 | 1.22% |
| R1 | 13.74 | 0.613% |
| Price | 13.66 | |
| S1 | 13.48 | -1.34% |
| S2 | 13.39 | -1.95% |
| S3 | 13.26 | -2.93% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 14.93 | 9.30% |
| R2 | 14.00 | 2.49% |
| R1 | 13.89 | 1.68% |
| Price | 13.66 | |
| S1 | 12.57 | -7.98% |
| S2 | 11.80 | -13.62% |
| S3 | 11.78 | -13.76% |
MDA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Oct 31, 2018 | Dec 13, 2018 | Dec 31, 2018 | $0.370 | 0% |
| 2 | Jul 31, 2018 | Sep 13, 2018 | Sep 28, 2018 | $0.370 | 0% |
| 3 | May 09, 2018 | Jun 14, 2018 | Jun 29, 2018 | $0.370 | 0% |
FAQ
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