MDM Permian, Inc. Stock Forecast
High volatility in MDM Permian, Inc. stock price on Monday which ended trading at $0.0111
(Updated on May 20, 2024)
The MDM Permian, Inc. stock price fell by -11.20% on the last day (Monday, 20th May 2024) from $0.0125 to $0.0111. During the last trading day the stock fluctuated 31.58% from a day low at $0.0095 to a day high of $0.0125. The price has been going up and down for this period, and there has been a -17.78% loss for the last 2 weeks. Volume has increased on the last day by 593 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, 635 thousand shares were bought and sold for approximately $7.05 thousand.
Given the current short-term trend, the stock is expected to rise 53.92% during the next 3 months and, with a 90% probability hold a price between $0.0171 and $0.0457 at the end of this 3-month period.
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MDMP Signals & Forecast
There are few to no technical positive signals at the moment. The MDM Permian, 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 $0.0122 and $0.0148. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, April 18, 2024, and so far it has fallen -57.31%. 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). MDM Permian, Inc. 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 MDM Permian, Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0097 and $0.0090. 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, MDM Permian, Inc. finds support just below today's level at $0.0097. If this is broken, then the next support from accumulated volume will be at $0.0090 and $0.0085.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.0030 between high and low, or 31.58%. For the last week, the stock has had daily average volatility of 18.32%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MDMP) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect MDM Permian, Inc. to open at $0.0110, and during the day (based on 14 day Average True Range), to move between $0.0083 and $0.0139, which gives a possible trading interval of +/-$0.0028 (+/-25.48%) up or down from last closing price. If MDM Permian, Inc. takes out the full calculated possible swing range there will be an estimated 50.96% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0115 (3.60%) than the support at $0.0097 (12.61%), 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 MDM Permian, Inc. stock A Buy?
The MDM Permian, Inc. stock holds several negative signals and despite the positive trend, we believe MDM Permian, Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.885 Sell Candidate Unchanged
Predicted Opening Price for MDM Permian, Inc. of Tuesday, May 21, 2024
Fair opening price May 21, 2024 | Current price |
---|---|
$0.0110 ( 0.601%) | $0.0111 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MDMP
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.0140 | 26.43 % | |
R2 | 0.0129 | 16.10 % | ||
R1 | 0.0122 | 9.72 % | ||
Current price: | 0.0111 | |||
Support | S1 | 0.0099 | -10.92 % | |
S2 | 0.0092 | -17.30 % | ||
S3 | 0.0080 | -27.63 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.0135 | 21.62 % | |
R2 | 0.0125 | 12.16 % | ||
R1 | 0.0115 | 3.60 % | ||
Current price | 0.0111 | |||
Support | S1 | 0.0097 | -12.61% | |
S2 | 0.0090 | -18.92% | ||
S3 | 0.0085 | -23.42% |
FAQ
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