Mercer International Inc. Stock Forecast
Mercer International Inc. stock upgraded to Strong Buy Candidate.
(Updated on May 02, 2024)
The Mercer International Inc. stock price gained 2.64% on the last trading day (Thursday, 2nd May 2024), rising from $10.24 to $10.51. During the last trading day the stock fluctuated 2.72% from a day low at $10.29 to a day high of $10.57. The price has risen in 7 of the last 10 days and is up by 9.82% over the past 2 weeks. Volume fell on the last day by -85 thousand shares and in total, 131 thousand shares were bought and sold for approximately $1.37 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 lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $10.31 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 24.21% during the next 3 months and, with a 90% probability hold a price between $12.81 and $14.34 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. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $10.23 and $9.81. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, March 18, 2024, and so far it has risen 15.12%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. 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
Mercer International Inc. finds support from accumulated volume at $10.03 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 2.72%. For the last week the stock has had daily average volatility of 3.45%.
Our recommended stop-loss: $10.19 (-3.00%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 32 days ago.)
Trading Expectations (MERC) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Mercer International Inc. to open at $10.46, and during the day (based on 14 day Average True Range), to move between $10.15 and $10.87, which gives a possible trading interval of +/-$0.362 (+/-3.44%) up or down from last closing price. If Mercer International Inc. takes out the full calculated possible swing range there will be an estimated 6.88% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $10.03, some $0.480 (4.57%) from the current price of $10.51, our system finds the risk reward attractive.
Earnings coming up
Mercer International Inc. will release earnings BMO on Thursday, May 09, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.540. We will update the financials statements for Mercer International Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.76% in the first trading day after earnings release.
Is Mercer International Inc. stock A Buy?
Mercer International Inc. holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 8.163 Strong Buy Candidate Upgraded
Predicted Opening Price for Mercer International Inc. of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $10.46 ( 0.507%) | $10.51 |
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 | 10.74 | 2.16 % | |
| R2 | 10.63 | 1.14 % | ||
| R1 | 10.56 | 0.510 % | ||
| Current price: | 10.51 | |||
| Support | S1 | 10.35 | -1.53 % | |
| S2 | 10.28 | -2.15 % | ||
| S3 | 10.18 | -3.17 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 10.51 | |||
| Support | S1 | 10.03 | -4.57% | |
| S2 | 8.51 | -19.03% | ||
| S3 | 8.38 | -20.27% |
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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