0% commission for ETF tradesThe Middleby Corporation Stock Forecast
AI Analysis of MIDD
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The Middleby Corporation stock price ended at $128.04 on Thursday, after losing 1.06%.
(Updated on Sep 12, 2024)
The The Middleby Corporation stock price fell by -1.06% on the last day (Thursday, 12th Sep 2024) from $129.41 to $128.04. It has now fallen 8 days in a row. During the last trading day the stock fluctuated 3.04% from a day low at $126.45 to a day high of $130.30. The price has fallen in 8 of the last 10 days and is down by -8.07% 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 -743 thousand shares and in total, 585 thousand shares were bought and sold for approximately $74.93 million.
Given the current short-term trend, the stock is expected to rise 12.64% during the next 3 months and, with a 90% probability hold a price between $144.22 and $171.61 at the end of this 3-month period.
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MIDD Signals & Forecast
There are few to no technical positive signals at the moment. The The Middleby Corporation 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 $131.71 and $136.76. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, August 01, 2024, and so far it has fallen -11.31%. 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 together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for The Middleby Corporation stock
The Middleby Corporation finds support from accumulated volume at $126.48 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 $3.85 between high and low, or 3.04%. For the last week, the stock has had daily average volatility of 2.80%.
The Middleby Corporation is oversold on RSI14 (20). Some stock may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MIDD) For The Upcoming Trading Day Of Friday 13th
For the upcoming trading day on Friday, 13th we expect The Middleby Corporation to open at $128.26, and during the day (based on 14 day Average True Range), to move between $124.76 and $131.32, which gives a possible trading interval of +/-$3.28 (+/-2.56%) up or down from last closing price. If The Middleby Corporation takes out the full calculated possible swing range there will be an estimated 5.13% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $129.41 (1.07%) than the support at $126.48 (1.22%), 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 The Middleby Corporation stock A Buy?
The The Middleby Corporation stock holds several negative signals and despite the positive trend, we believe The Middleby Corporation will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
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Current score: -2.066 Sell Candidate Unchanged
Predicted Opening Price for The Middleby Corporation of Friday, September 13, 2024
| Fair opening price September 13, 2024 | Current price |
|---|---|
| $128.26 ( 0.174%) | $128.04 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MIDD
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 132.11 | 3.18% |
| R2 | 130.64 | 2.03% |
| R1 | 129.73 | 1.32% |
| Price | 128.04 | |
| S1 | 126.79 | -0.97% |
| S2 | 125.88 | -1.68% |
| S3 | 124.41 | -2.83% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 144.36 | 12.75% |
| R2 | 131.61 | 2.79% |
| R1 | 129.41 | 1.07% |
| Price | 128.04 | |
| S1 | 126.48 | -1.22% |
| S2 | 125.90 | -1.67% |
| S3 | 122.61 | -4.24% |
MIDD Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 19, 2004 | Jun 02, 2004 | Jul 06, 2004 | $0.0667 | 0.748% |
| 2 | Oct 30, 2003 | Nov 07, 2003 | Dec 19, 2003 | $0.0417 | 0.575% |
| 3 | Dec 11, 2000 | Dec 18, 2000 | Dec 29, 2000 | $0.0167 | 1.67% |
| 4 | Feb 26, 1991 | Feb 26, 1991 | Mar 25, 1991 | $0.0033 | 1.00% |
| 5 | Nov 06, 1990 | Nov 14, 1990 | Dec 15, 1990 | $0.0033 | 1.60% |
FAQ
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