Minco Capital Corp. Stock Forecast
Minco Capital Corp. stock price ended at $0.0379 on Tuesday, after gaining 0.106%.
(Updated on May 21, 2024)
The Minco Capital Corp. stock price gained 0.106% on the last trading day (Tuesday, 21st May 2024), rising from $0.0379 to $0.0379. 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 8.13% from a day low at $0.0351 to a day high of $0.0379. The price has risen in 5 of the last 10 days and is up by 7.81% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 162 thousand more shares were traded than the day before. In total, 162 thousand shares were bought and sold for approximately $6.14 thousand.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -3.14% during the next 3 months and, with a 90% probability hold a price between $0.0264 and $0.0422 at the end of this 3-month period.
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MGHCF Signals & Forecast
Mostly positive signals in the chart today. The Minco Capital Corp. 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 $0.0355 and $0.0342. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, May 01, 2024, and so far it has risen 32.06%. 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). Minco Capital 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. The very low volume increases the risk and reduces the other technical signals issued.
A buy signal from a double bottom formation was found on Wednesday, March 20, 2024 with a target of $0.0375. Despite whether the objective of the signal formation has been reached the stock may continue to perform well.
Support, Risk & Stop-loss for Minco Capital Corp. stock
Minco Capital Corp. finds support from accumulated volume at $0.0377 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 $0.0029 between high and low, or 8.13%. For the last week, the stock has had daily average volatility of 4.63%.
Our recommended stop-loss: $0.0366 (-3.40%) (This stock has high daily movements and this gives high risk. The RSI14 is 80 and this increases the risk substantially. There is a buy signal from a pivot bottom found 16 days ago.)
Trading Expectations (MGHCF) For The Upcoming Trading Day Of Wednesday 22nd
For the upcoming trading day on Wednesday, 22nd we expect Minco Capital Corp. to open at $0.0370, and during the day (based on 14 day Average True Range), to move between $0.0352 and $0.0406, which gives a possible trading interval of +/-$0.0027 (+/-7.22%) up or down from last closing price. If Minco Capital Corp. takes out the full calculated possible swing range there will be an estimated 14.44% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0377 (0.66%) than the resistance at $0.0383 (1.06%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Minco Capital Corp. stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 2.558 Buy Candidate Unchanged
Predicted Opening Price for Minco Capital Corp. of Wednesday, May 22, 2024
| Fair opening price May 22, 2024 | Current price |
|---|---|
| $0.0370 ( 2.51%) | $0.0379 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MGHCF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0398 | 5.01 % | |
| R2 | 0.0387 | 2.14 % | ||
| R1 | 0.0380 | 0.366 % | ||
| Current price: | 0.0379 | |||
| Support | S1 | 0.0359 | -5.38 % | |
| S2 | 0.0352 | -7.15 % | ||
| S3 | 0.0341 | -10.03 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0400 | 5.54 % | |
| R2 | 0.0384 | 1.37 % | ||
| R1 | 0.0383 | 1.06 % | ||
| Current price | 0.0379 | |||
| Support | S1 | 0.0377 | -0.660% | |
| S2 | 0.0350 | -7.65% | ||
| S3 | 0.0337 | -11.08% |
FAQ
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