The Marygold Companies, Inc. Stock Forecast
The Marygold Companies, Inc. stock downgraded from Hold/Accumulate to Sell Candidate after Tuesday trading session.
(Updated on May 07, 2024)
The The Marygold Companies, Inc. stock price fell by -3.23% on the last day (Tuesday, 7th May 2024) from $1.24 to $1.20. During the last trading day the stock fluctuated 5.83% from a day low at $1.20 to a day high of $1.27. The price has fallen in 4 of the last 10 days and is down by -10.11% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -2 thousand shares and in total, 7 thousand shares were bought and sold for approximately $8.17 thousand.
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 $1.11 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 25.44% during the next 3 months and, with a 90% probability hold a price between $1.40 and $2.06 at the end of this 3-month period.
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MGLD 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 The Marygold Companies, 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 $1.31 and $1.28. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, March 19, 2024, and so far it has fallen -17.81%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for The Marygold Companies, Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $1.13 and $1.08. 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, The Marygold Companies, Inc. finds support just below today's level at $1.13. If this is broken, then the next support from accumulated volume will be at $1.08 and $0.99.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0700 between high and low, or 5.83%. For the last week the stock has had daily average volatility of 3.28%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MGLD) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect The Marygold Companies, Inc. to open at $1.22, and during the day (based on 14 day Average True Range), to move between $1.12 and $1.28, which gives a possible trading interval of +/-$0.0758 (+/-6.32%) up or down from last closing price. If The Marygold Companies, Inc. takes out the full calculated possible swing range there will be an estimated 12.63% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.13 (5.92%) than the resistance at $1.30 (7.94%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
The Marygold Companies, Inc. will release earnings BMO on Monday, May 13, 2024. We will update the financials statements for The Marygold Companies, Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.29% in the first trading day after earnings release.
Is The Marygold Companies, Inc. stock A Buy?
The The Marygold Companies, Inc. stock holds several negative signals and despite the positive trend, we believe The Marygold Companies, 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 Hold/Accumulate to a Sell candidate.
Current score: -4.856 Sell Candidate Downgraded
Predicted Opening Price for The Marygold Companies, Inc. of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| $1.22 ( 1.94%) | $1.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MGLD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.29 | 7.78 % | |
| R2 | 1.27 | 5.55 % | ||
| R1 | 1.25 | 4.17 % | ||
| Current price: | 1.20 | |||
| Support | S1 | 1.20 | -0.284 % | |
| S2 | 1.18 | -1.66 % | ||
| S3 | 1.15 | -3.89 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.45 | 20.83 % | |
| R2 | 1.32 | 10.00 % | ||
| R1 | 1.30 | 7.94 % | ||
| Current price | 1.20 | |||
| Support | S1 | 1.13 | -5.92% | |
| S2 | 1.08 | -10.00% | ||
| S3 | 0.99 | -17.17% |
FAQ
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