Mercer International Inc. Stock Forecast
Stronger technical forecast for Mercer International Inc. stock price after Wednesday trading.
(Updated on Apr 24, 2024)
The Mercer International Inc. stock price gained 2.61% on the last trading day (Wednesday, 24th Apr 2024), rising from $9.97 to $10.23. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.81% from a day low at $9.97 to a day high of $10.25. The price has risen in 6 of the last 10 days and is up by 6.67% over the past 2 weeks. Volume fell on the last day by -15 thousand shares and in total, 105 thousand shares were bought and sold for approximately $1.08 million. 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 lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 23.09% during the next 3 months and, with a 90% probability hold a price between $11.41 and $13.83 at the end of this 3-month period.
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MERC Signals & Forecast
The Mercer International Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $9.66 and $9.75. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 10.83%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 also not.
Support, Risk & Stop-loss for Mercer International Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $8.38 and $8.27. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Mercer International Inc. finds support just below today's level at $8.38. If this is broken, then the next support from accumulated volume will be at $8.27 and $8.03.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.280 between high and low, or 2.81%. For the last week the stock has had daily average volatility of 3.64%.
Our recommended stop-loss: $9.88 (-3.40%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (MERC) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Mercer International Inc. to open at $10.15, and during the day (based on 14 day Average True Range), to move between $9.87 and $10.59, which gives a possible trading interval of +/-$0.361 (+/-3.53%) up or down from last closing price. If Mercer International Inc. takes out the full calculated possible swing range there will be an estimated 7.05% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $8.38, some $1.85 (18.08%) from the current price of $10.23, our system finds the risk reward attractive.
Is Mercer International Inc. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Mercer International Inc. stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.761 Buy Candidate Upgraded
Predicted Opening Price for Mercer International Inc. of Thursday, April 25, 2024
Fair opening price April 25, 2024 | Current price |
---|---|
$10.15 ( 0.782%) | $10.23 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MERC
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 10.43 | 1.96 % | |
R2 | 10.32 | 0.91 % | ||
R1 | 10.26 | 0.264 % | ||
Current price: | 10.23 | |||
Support | S1 | 10.04 | -1.83 % | |
S2 | 9.98 | -2.47 % | ||
S3 | 9.87 | -3.52 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 10.23 | |||
Support | S1 | 8.38 | -18.08% | |
S2 | 8.27 | -19.16% | ||
S3 | 8.03 | -21.51% |
MERC Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 15, 2024 | Mar 26, 2024 | Apr 04, 2024 | $0.0750 | 0.755% |
2 | Nov 02, 2023 | Dec 19, 2023 | Dec 28, 2023 | $0.0750 | 0.787% |
3 | Aug 03, 2023 | Sep 26, 2023 | Oct 04, 2023 | $0.0750 | 0.92% |
4 | May 04, 2023 | Jun 27, 2023 | Jul 06, 2023 | $0.0750 | 0.88% |
5 | Feb 16, 2023 | Mar 28, 2023 | Apr 05, 2023 | $0.0750 | 0.81% |
FAQ
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