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Meredith Corporation Stock Forecast NYSE:MDP

$59.00 (0.20%)

Volume: 756k

Closed: Nov 26, 2021

Hollow Logo Score: 5.217

Meredith Corporation Stock Forecast

$59.00 (0.20%)

Volume: 756k

Closed: Nov 26, 2021

Score Hollow Logo 5.217
Which way will MDP go? Request
Stop-loss: $56.94 (-3.50%)
Key Stats
P/E Ratio 8.72
Beta 0.78
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
RSImin/max Values: [ 25 - 75 ] RSI14 is 75 and the stock is currently not being overbought or oversold

Meredith Corporation stock upgraded to Strong Buy Candidate.
(Updated on Nov 26, 2021)


Buy or Hold candidate since 2021-09-14 Gain 41.66%

The Meredith Corporation stock price gained 0.20% on the last trading day (Friday, 26th Nov 2021), rising from $58.88 to $59.00. , and has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the day the stock fluctuated 0.41% from a day low at $58.80 to a day high of $59.04. The price has risen in 7 of the last 10 days and is up by 1.41% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 236 thousand more shares were traded than the day before. In total, 756 thousand shares were bought and sold for approximately $44.62 million.

The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $58.29 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 41.7% during the next 3 months and, with a 90% probability hold a price between $82.60 and $100.42 at the end of this 3-month period.

Signals & Forecast

Mostly positive signals in the chart today. The Meredith Corporation 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 $58.85 and $58.41. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, October 05, 2021, and so far it has risen 8.40%. 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 is rising along with the price. This is considered to be a good technical signal.

Support, Risk & Stop-loss

Meredith Corporation finds support from accumulated volume at $58.30 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 with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.24 between high and low, or 0.41%. For the last week the stock has had a daily average volatility of 0.36%.

Our recommended stop-loss: $56.94 (-3.50%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 37 days ago.)

Is Meredith Corporation stock A Buy?

Meredith Corporation holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.

Current score: 5.217

Predicted Opening Price for Meredith Corporation of Monday, November 29, 2021

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

Fair opening price November 29, 2021 Current price
$58.95 $59.00 (Overvalued)
Strong Buy Candidate Upgraded

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Analyst Ratings

On Nov 12, 2021 "Canaccord Genuity" gave "$3.20 - $3.00" rating for MDP. The price target was set to $58.29+0.2%.

Volatility and Risk
Daily Average Volatility: 0.36 %
Overall Risk: Very High High Medium Low Very Low
Volatility
0.36 %
Daily Average Volatility
Overall Risk

Very High
High
Medium
Low
Very Low

Support & Resistance

No Resistance Found
Price: $59.00
Support: $58.30

MDP Insider Trading Show all Trades

INSIDER POWER

9.182

Last 100 transactions
Buy: 1 195 871 | Sell: 130 235 (Shares)
Date Action Amount Person Type
Nov 09, 2021 Buy 2 322 Roberts Iii Chris Common Stock ($1 par value)
Nov 09, 2021 Buy 2 322 Tallett Elizabeth E Common Stock ($1 par value)
Nov 09, 2021 Buy 2 322 Kerger Paula Common Stock ($1 par value)
Nov 09, 2021 Buy 2 322 Baer Donald A Common Stock ($1 par value)
Nov 09, 2021 Buy 2 322 Berg Donald C Common Stock ($1 par value)
Show all Insider Trades
INSIDER POWER

9.182

Last 100 transactions
Buy: 1 195 871 | Sell: 130 235 (Shares)

Fibonacci Support & Resistance Levels

Level Price Change
Resistance 59.19 0.32 %
59.09 0.16 %
59.04 0.0650 %
Current price: 59.00
Support 58.85 -0.25 %
58.80 -0.34 %
58.71 -0.50 %

Accumulated Volume Support & Resistance Levels

Level Price Chg %
Resistance 0 .
0 .
0 .
Current price 59.00
Support 58.30 -1.19%
58.08 -1.56%
56.30 -4.58%

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About Meredith Corporation

Meredith Meredith Corporation operates as a diversified media company that focuses primarily on the home and family marketplace in the United States. It operates in two segments, Local Media and National Media. The Local Media segment consists of 16 owned television stations, such as 7 CBS affiliates, 5 FOX affiliates, 2 MyNetworkTV affiliates, 1 NBC affiliate, 1 ABC affiliate, and 1 independent station, as well as 1 operated television station. This segm... Read more

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