MDU Resources Group Inc Stock Forecast
Stronger technical forecast for MDU Resources Group Inc stock price after Tuesday trading.
(Updated on Jul 02, 2024)
The MDU Resources Group Inc stock price gained 0.81% on the last trading day (Tuesday, 2nd Jul 2024), rising from $24.59 to $24.79. During the last trading day the stock fluctuated 1.24% from a day low at $24.55 to a day high of $24.86. The price has risen in 6 of the last 10 days and is up by 0.04% 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, 169 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $25.85 million.
The stock is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect MDU Resources Group Inc stock with a 90% probability to be traded between $24.42 and $26.59 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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MDU Signals & Forecast
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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The MDU Resources Group Inc 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 $25.09 and $25.05. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, June 24, 2024, and so far it has fallen -3.35%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for MDU Resources Group Inc stock
MDU Resources Group Inc finds support from accumulated volume at $24.78 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 $0.305 between high and low, or 1.24%. For the last week the stock has had daily average volatility of 1.68%.
Our recommended stop-loss: $23.78 (-4.07%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 19 days ago.)
Trading Expectations (MDU) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect MDU Resources Group Inc to open at $24.73, and during the day (based on 14 day Average True Range), to move between $24.36 and $25.22, which gives a possible trading interval of +/-$0.435 (+/-1.75%) up or down from last closing price. If MDU Resources Group Inc takes out the full calculated possible swing range there will be an estimated 3.51% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $24.78 (0.04%) than the resistance at $25.02 (0.93%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is MDU Resources Group Inc stock A Buy?
MDU Resources Group 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: 0.052 Hold/Accumulate Upgraded
Predicted Opening Price for MDU Resources Group Inc of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $24.73 ( 0.235%) | $24.79 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MDU
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 25.04 | 1.00% |
| R2 | 24.92 | 0.525% |
| R1 | 24.85 | 0.235% |
| Price | 24.79 | |
| S1 | 24.62 | -0.705% |
| S2 | 24.54 | -1.00% |
| S3 | 24.43 | -1.47% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 25.10 | 1.25% |
| R2 | 25.06 | 1.09% |
| R1 | 25.02 | 0.93% |
| Price | 24.79 | |
| S1 | 24.78 | -0.0403% |
| S2 | 24.24 | -2.22% |
| S3 | 23.56 | -4.96% |
MDU Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 13, 2024 | Jun 13, 2024 | Jul 01, 2024 | $0.125 | 0.508% |
| 2 | Feb 15, 2024 | Mar 13, 2024 | Apr 01, 2024 | $0.125 | 0.491% |
| 3 | Nov 16, 2023 | Dec 13, 2023 | Jan 01, 2024 | $0.125 | 0.631% |
| 4 | Aug 03, 2023 | Sep 13, 2023 | Oct 01, 2023 | $0.125 | 0.638% |
| 5 | May 04, 2023 | Jun 12, 2023 | Jul 01, 2023 | $0.223 | 1.06% |
FAQ
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