Medalist Diversified REIT Inc. Stock Forecast
Medalist Diversified REIT Inc. stock upgraded from Sell Candidate to Hold/Accumulate after Thursday trading session.
(Updated on May 02, 2024)
The Medalist Diversified REIT Inc. stock price gained 0.93% on the last trading day (Thursday, 2nd May 2024), rising from $5.46 to $5.51. During the last trading day the stock fluctuated 0.92% from a day low at $5.46 to a day high of $5.51. The price has risen in 6 of the last 10 days and is up by 0.65% over the past 2 weeks. Volume fell on the last day by -3 thousand shares and in total, 2 thousand shares were bought and sold for approximately $8.97 thousand. 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.
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 $5.52. A reaction back to this level may hold a second chance to get out before further falls.
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MDRR Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 1.02%. 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 Medalist Diversified REIT 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 $5.54 and $5.70. A break-up above any of these levels will issue buy signals. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Medalist Diversified REIT Inc. stock
Medalist Diversified REIT Inc. finds support from accumulated volume at $5.50 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 controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the stock. During the last day, the stock moved $0.0500 between high and low, or 0.92%. For the last week the stock has had daily average volatility of 0.475%.
Our recommended stop-loss: $5.21 (-5.34%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (MDRR) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Medalist Diversified REIT Inc. to open at $5.49, and during the day (based on 14 day Average True Range), to move between $5.39 and $5.63, which gives a possible trading interval of +/-$0.120 (+/-2.17%) up or down from last closing price. If Medalist Diversified REIT Inc. takes out the full calculated possible swing range there will be an estimated 4.35% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $5.50 (0.10%) than the resistance at $5.65 (2.62%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Medalist Diversified REIT Inc. will release earnings BMO on Thursday, May 09, 2024. We will update the financials statements for Medalist Diversified REIT Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 6.88% in the first trading day after earnings release.
Is Medalist Diversified REIT Inc. stock A Buy?
Medalist Diversified REIT Inc. 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: -0.907 Hold/Accumulate Upgraded
Predicted Opening Price for Medalist Diversified REIT Inc. of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $5.49 ( 0.251%) | $5.51 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MDRR
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.54 | 0.658 % | |
| R2 | 5.52 | 0.311 % | ||
| R1 | 5.51 | 0.0963 % | ||
| Current price: | 5.51 | |||
| Support | S1 | 5.47 | -0.598 % | |
| S2 | 5.46 | -0.81 % | ||
| S3 | 5.44 | -1.16 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.75 | 4.44 % | |
| R2 | 5.67 | 2.89 % | ||
| R1 | 5.65 | 2.62 % | ||
| Current price | 5.51 | |||
| Support | S1 | 5.50 | -0.104% | |
| S2 | 5.37 | -2.46% | ||
| S3 | 5.30 | -3.74% |
MDRR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 08, 2024 | Apr 19, 2024 | Apr 25, 2024 | $0.0200 | 0.358% |
| 2 | Jan 23, 2024 | Feb 01, 2024 | Feb 06, 2024 | $0.0100 | 0.179% |
| 3 | Jan 24, 2024 | Jan 31, 2024 | Feb 02, 2024 | $0.0100 | 0.192% |
| 4 | Apr 12, 2023 | Apr 24, 2023 | Apr 28, 2023 | $0.0800 | 1.39% |
| 5 | Jan 11, 2023 | Jan 23, 2023 | Jan 27, 2023 | $0.0800 | 1.01% |
FAQ
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