Mistras Group Inc Stock Forecast
About Chart
Golden Star
The Golden Star is a refined bullish signal based on the Golden Cross, developed by Jim Stromberg, incorporating additional time frame-specific moving averages and precise price line crossings. This signal is effective for liquid stocks, highlighting short-term upward momentum.
Death Star
The Death Star, developed by Jim Stromberg, is the bearish counterpart to the Golden Star, serving as a sell signal. It is triggered by specific moving average crossings on the price line, indicating a likely prolonged decline in the stock.
Golden Cross
The Golden Cross is a bullish signal where the short-term moving average crosses above the long-term moving average, indicating potential upward momentum.
Death Cross
The Death Cross is a bearish signal where the short-term moving average crosses below the long-term moving average, indicating potential downward momentum.
Pivot Bottom
A Pivot Bottom is a significant low point identified by algorithms developed by StockInvest.us. While it may indicate a short-term directional change, it does not necessarily imply a complete trend reversal. Pivot Bottoms are marked as green circles on the price line.
Pivot Top
A Pivot Top represents a significant high point identified by algorithms developed by StockInvest.us. Similar to Pivot Bottoms, it may suggest a short-term directional change within the main trend, rather than a full trend reversal. Pivot Tops are marked as red circles on the price line.
RSI Oversold
RSI oversold indicates that a stock has declined significantly and may be undervalued, potentially presenting a buying opportunity. This condition is marked by a green line on the chart but should be confirmed with other indicators before taking action.
RSI Overbought
RSI overbought suggests that a stock has risen rapidly and may be due for a pullback. It is marked by a red line on the chart, signaling increased risk. This doesn’t necessarily mean it’s time to sell, but it’s important to monitor closely.
Accumulated Volume
The bars indicate how much stock has been traded on each price during the chart period.
Buy Signal (MA)
Buy Signal from Moving Average: Indicates potential upward movement.
Sell Signal (MA)
Sell Signal from Moving Average: Indicates potential downward movement.
AI Analysis of MG
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Mistras Group Inc stock downgraded from Buy Candidate to Sell Candidate after Thursday trading session
(Updated on Oct 03, 2024)
Sell candidate since Oct 03, 2024
The Mistras Group Inc stock price fell by -1.68% on the last day (Thursday, 3rd Oct 2024) from $11.30 to $11.11. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 2.69% from a day low at $10.92 to a day high of $11.21. The price has fallen in 6 of the last 10 days but is still up by 2.11% over the past 2 weeks. Volume has increased on the last day by 35 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 102 thousand shares were bought and sold for approximately $1.13 million.
The stock lies in the lower part of a very 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 $10.76 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 26.69% during the next 3 months and, with a 90% probability hold a price between $13.64 and $17.10 at the end of this 3-month period.
MG Signals & Forecast
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. The Mistras Group Inc 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 $11.24 and $11.22. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, August 20, 2024, and so far it has fallen -8.18%. Further fall is indicated until a new bottom pivot has been found. Mistras Group Inc gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for Mistras Group Inc stock
Mistras Group Inc finds support from accumulated volume at $10.88 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.294 between high and low, or 2.69%. For the last week, the stock has had daily average volatility of 2.76%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MG) For The Upcoming Trading Day Of Friday 4th
For the upcoming trading day on Friday, 4th we expect Mistras Group Inc to open at $11.08, and during the day (based on 14 day Average True Range), to move between $10.72 and $11.50, which gives a possible trading interval of +/-$0.393 (+/-3.54%) up or down from last closing price. If Mistras Group Inc takes out the full calculated possible swing range there will be an estimated 7.08% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $11.28 (1.53%) than the support at $10.88 (2.07%), 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 Mistras Group Inc stock A Buy?
The Mistras Group Inc stock holds several negative signals and despite the positive trend, we believe Mistras Group Inc will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. 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 Sell candidate.
Current score:
-4.219
Sell Candidate
Downgraded
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Predicted Fair Opening Price
Predicted fair opening price on October 4, 2024 - $11.08 ( 0.281%). The predicted opening price is based on yesterday's movements between high, low, and closing price.Trading levels for MG
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 11.37 | 2.36% |
| R2 | 11.26 | 1.35% |
| R1 | 11.19 | 0.729% |
| Price | 11.11 | |
| S1 | 10.97 | -1.29% |
| S2 | 10.90 | -1.91% |
| S3 | 10.79 | -2.92% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 11.37 | 2.34% |
| R2 | 11.34 | 2.07% |
| R1 | 11.28 | 1.53% |
| Price | 11.11 | |
| S1 | 10.88 | -2.07% |
| S2 | 10.80 | -2.79% |
| S3 | 10.13 | -8.82% |
FAQ
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