M/I Homes Inc Stock Forecast
Green day on Wednesday for M/I Homes Inc stock after gaining 2.47%
(Updated on Apr 24, 2024)
The M/I Homes Inc stock price gained 2.47% on the last trading day (Wednesday, 24th Apr 2024), rising from $119.47 to $122.42. It has now gained 4 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 7.15% from a day low at $119.45 to a day high of $127.99. The price has been going up and down for this period, and there has been a 4.77% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 119 thousand more shares were traded than the day before. In total, 443 thousand shares were bought and sold for approximately $54.20 million.
The stock lies in the middle of a 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 -5.52% during the next 3 months and, with a 90% probability hold a price between $104.10 and $126.62 at the end of this 3-month period.
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MHO Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 10.60%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The M/I Homes Inc stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $123.20. On a fall, the stock will find some support from the short-term average at $114.38. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for M/I Homes Inc stock
M/I Homes Inc finds support from accumulated volume at $120.99 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 $8.54 between high and low, or 7.15%. For the last week, the stock has had daily average volatility of 4.51%.
Our recommended stop-loss: $117.45 (-4.06%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 4 days ago.)
Trading Expectations (MHO) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect M/I Homes Inc to open at $123.29, and during the day (based on 14 day Average True Range), to move between $117.86 and $126.98, which gives a possible trading interval of +/-$4.56 (+/-3.72%) up or down from last closing price. If M/I Homes Inc takes out the full calculated possible swing range there will be an estimated 7.45% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $120.99 (1.17%) than the resistance at $125.78 (2.74%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is M/I Homes Inc stock A Buy?
M/I Homes Inc holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.751 Hold/Accumulate Unchanged
Predicted Opening Price for M/I Homes Inc of Thursday, April 25, 2024
Fair opening price April 25, 2024 | Current price |
---|---|
$123.29 ( 0.708%) | $122.42 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MHO
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 131.83 | 7.68 % | |
R2 | 128.56 | 5.02 % | ||
R1 | 126.55 | 3.37 % | ||
Current price: | 122.42 | |||
Support | S1 | 120.02 | -1.96 % | |
S2 | 118.01 | -3.60 % | ||
S3 | 114.75 | -6.27 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 131.18 | 7.16 % | |
R2 | 127.42 | 4.08 % | ||
R1 | 125.78 | 2.74 % | ||
Current price | 122.42 | |||
Support | S1 | 120.99 | -1.17% | |
S2 | 119.47 | -2.41% | ||
S3 | 112.91 | -7.77% |
MHO Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | May 07, 2008 | Jun 27, 2008 | Jul 15, 2008 | $0.0250 | 0.179% |
2 | Feb 13, 2008 | Mar 28, 2008 | Apr 18, 2008 | $0.0250 | 0.140% |
3 | Nov 14, 2007 | Dec 28, 2007 | Jan 17, 2008 | $0.0250 | 0.265% |
4 | Aug 22, 2007 | Sep 27, 2007 | Oct 18, 2007 | $0.0250 | 0.170% |
5 | May 10, 2007 | Jun 28, 2007 | Jul 19, 2007 | $0.0250 | 0.0868% |
FAQ
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