MEI Pharma Stock Forecast
MEI Pharma stock price ended at $3.25 on Friday, after losing 0%.
(Updated on Apr 19, 2024)
No changes to the price of MEI Pharma stock on the last trading day (Friday, 19th Apr 2024). During the last trading day the stock fluctuated 2.48% from a day low at $3.22 to a day high of $3.30. The price has fallen in 7 of the last 10 days and is down by -13.33% for this period.
The stock lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $3.13 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -25.92% during the next 3 months and, with a 90% probability hold a price between $2.32 and $2.86 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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MEIP Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 1.56%. Further rise is indicated until a new top pivot has been found. Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The MEI Pharma 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 $3.31 and $3.77. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for MEI Pharma stock
MEI Pharma finds support from accumulated volume at $3.20 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.0800 between high and low, or 2.48%. For the last week, the stock has had daily average volatility of 5.12%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MEIP) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect MEI Pharma to open at $3.26, and during the day (based on 14 day Average True Range), to move between $3.03 and $3.47, which gives a possible trading interval of +/-$0.220 (+/-6.76%) up or down from last closing price. If MEI Pharma takes out the full calculated possible swing range there will be an estimated 13.51% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $3.20 (1.54%) than the resistance at $3.69 (13.54%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is MEI Pharma stock A Buy?
MEI Pharma holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -3.344 Sell Candidate Unchanged
Predicted Opening Price for MEI Pharma of Monday, April 22, 2024
Fair opening price April 22, 2024 | Current price |
---|---|
$3.26 ( 0.205%) | $3.25 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MEIP
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 3.34 | 2.67 % | |
R2 | 3.31 | 1.73 % | ||
R1 | 3.29 | 1.15 % | ||
Current price: | 3.25 | |||
Support | S1 | 3.23 | -0.735 % | |
S2 | 3.21 | -1.32 % | ||
S3 | 3.18 | -2.26 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 4.00 | 23.08 % | |
R2 | 3.83 | 17.85 % | ||
R1 | 3.69 | 13.54 % | ||
Current price | 3.25 | |||
Support | S1 | 3.20 | -1.54% | |
S2 | 0 | . | ||
S3 | 0 | . |
MEIP Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Nov 06, 2023 | Nov 16, 2023 | Dec 06, 2023 | $1.75 | 26.52% |
FAQ
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