Mainstreet Equity Corp. Stock Forecast

Weaker technical forecast for Mainstreet Equity Corp. as stock downgraded to Hold/Accumulate.
(Updated on May 17, 2024)

MEQ.TO Signals & Forecast

A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 2.39%. 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). Mainstreet Equity Corp. has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Mainstreet Equity Corp. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $181.15. On a fall, the stock will find some support from the short-term average at $173.45. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. The stock had a Golden Star Signal on Wednesday, October 04, 2023 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Mainstreet Equity Corp. stock

Mainstreet Equity Corp. finds support from accumulated volume at $171.95 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $1.43 (0.83%) between high and low. For the last week, the stock has had daily average volatility of 1.23%.

Our recommended stop-loss: $164.34 (-5.65%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 27 days ago.)

Trading Expectations (MEQ.TO) For The Upcoming Trading Day Of Tuesday 21st

For the upcoming trading day on Tuesday, 21st we expect Mainstreet Equity Corp. to open at $173.69, and during the day (based on 14 day Average True Range), to move between $170.92 and $177.42, which gives a possible trading interval of +/-$3.25 (+/-1.87%) up or down from last closing price. If Mainstreet Equity Corp. takes out the full calculated possible swing range there will be an estimated 3.73% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $171.95 (1.27%) than the resistance at $179.35 (2.97%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Mainstreet Equity Corp. stock A Buy?

Mainstreet Equity Corp. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: 0.918 Hold/Accumulate Downgraded

Predicted Opening Price for Mainstreet Equity Corp. of Tuesday, May 21, 2024

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