Maiden Holdings Ltd Stock Forecast
Red day on Friday for Maiden Holdings Ltd
(Updated on Apr 19, 2024)
The Maiden Holdings Ltd stock price fell by -0.312% on the last day (Friday, 19th Apr 2024) from $17.65 to $17.60. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 1.43% from a day low at $17.60 to a day high of $17.85. The price has fallen in 7 of the last 10 days and is down by -4.74% 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, 3 thousand shares were bought and sold for approximately $57.64 thousand.
The stock is at the lower part of a horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $17.58 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Maiden Holdings Ltd stock with a 90% probability to be traded between $17.34 and $18.50 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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MHNC Signals & Forecast
There are few to no technical positive signals at the moment. The Maiden Holdings Ltd stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $17.76 and $18.18. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 16, 2024, and so far it has fallen -2.03%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Maiden Holdings Ltd stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
In general the stock tends to have controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the stock. During the last day, the stock moved $0.251 between high and low, or 1.43%. For the last week the stock has had daily average volatility of 0.89%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MHNC) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Maiden Holdings Ltd to open at $17.68, and during the day (based on 14 day Average True Range), to move between $17.31 and $17.88, which gives a possible trading interval of +/-$0.289 (+/-1.64%) up or down from last closing price. If Maiden Holdings Ltd takes out the full calculated possible swing range there will be an estimated 3.29% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $17.96, some $0.365 (2.07%) from the current price of $17.60, our system finds the risk reward not very attractive.
Is Maiden Holdings Ltd stock A Buy?
Maiden Holdings Ltd holds several negative signals and is within a falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -2.826 Sell Candidate Unchanged
Predicted Opening Price for Maiden Holdings Ltd of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $17.68 ( 0.476%) | $17.60 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MHNC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 17.93 | 1.91 % | |
| R2 | 17.83 | 1.36 % | ||
| R1 | 17.77 | 1.02 % | ||
| Current price: | 17.60 | |||
| Support | S1 | 17.58 | -0.0695 % | |
| S2 | 17.52 | -0.407 % | ||
| S3 | 17.43 | -0.95 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 18.20 | 3.44 % | |
| R2 | 18.17 | 3.27 % | ||
| R1 | 17.96 | 2.07 % | ||
| Current price | 17.60 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
MHNC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 14, 2024 | May 14, 2024 | Jun 03, 2024 | $0.484 | 2.75% |
| 2 | Jan 12, 2024 | Feb 14, 2024 | Mar 01, 2024 | $0.484 | 2.67% |
| 3 | Nov 04, 2023 | Nov 14, 2023 | Dec 01, 2023 | $0.484 | 2.52% |
| 4 | Jun 30, 2023 | Aug 14, 2023 | Sep 01, 2023 | $0.484 | 2.65% |
| 5 | Aug 05, 2023 | May 12, 2023 | Jun 01, 2023 | $0.484 | 2.62% |
FAQ
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