McGrath Limited Stock Forecast

McGrath Limited stock price down 0% on Friday
(Updated on Jun 14, 2024)

MEA.AX Signals & Forecast

There are few to no technical positive signals at the moment. The McGrath Limited 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 $0.601 and $0.601. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, June 07, 2024, and so far it has fallen -2.46%. 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). Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point".

Support, Risk & Stop-loss for McGrath Limited stock

McGrath Limited finds support from accumulated volume at $0.590 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 therefore the general risk is considered very 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 $0.0050 between high and low, or 0.84%. For the last week the stock has had daily average volatility of 0.500%

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (MEA.AX) For The Upcoming Trading Day Of Monday 17th

For the upcoming trading day on Monday, 17th we expect McGrath Limited to open at $0.597, and during the day (based on 14 day Average True Range), to move between $0.590 and $0.600, which gives a possible trading interval of +/-$0.0051 (+/-0.85%) up or down from last closing price. If McGrath Limited takes out the full calculated possible swing range there will be an estimated 1.70% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.600 (0.84%) than the support at $0.590 (0.84%), 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 McGrath Limited stock A Buy?

The McGrath Limited stock holds several negative signals and despite the positive trend, we believe McGrath Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Current score: -4.156 Sell Candidate Unchanged

Predicted Opening Price for McGrath Limited of Monday, June 17, 2024

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