Mitcham Industries Inc. Series A 9.00% Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Mitcham Industries Inc. Series A 9.00% stock price up 1.48% on Friday
(Updated on May 03, 2024)
The Mitcham Industries Inc. Series A 9.00% stock price gained 1.48% on the last trading day (Friday, 3rd May 2024), rising from $11.00 to $11.16. During the last trading day the stock fluctuated 5.66% from a day low at $10.60 to a day high of $11.20. The price has risen in 7 of the last 10 days and is up by 32.88% over the past 2 weeks. Volume fell on the last day by -341 shares and in total, 5 thousand shares were bought and sold for approximately $50.79 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 17.35% during the next 3 months and, with a 90% probability hold a price between $9.72 and $13.95 at the end of this 3-month period.
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MINDP Signals & Forecast
The Mitcham Industries Inc. Series A 9.00% 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 $9.87 and $9.31. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 39.01%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Mitcham Industries Inc. Series A 9.00% stock
Mitcham Industries Inc. Series A 9.00% finds support from accumulated volume at $10.85 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 periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.600 between high and low, or 5.66%. For the last week the stock has had daily average volatility of 8.95%.
Our recommended stop-loss: $10.83 (-3.02%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 9 days ago.)
Trading Expectations (MINDP) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Mitcham Industries Inc. Series A 9.00% Series A Cumulative Preferred Stock to open at $10.99, and during the day (based on 14 day Average True Range), to move between $10.54 and $11.78, which gives a possible trading interval of +/-$0.617 (+/-5.53%) up or down from last closing price. If Mitcham Industries Inc. Series A 9.00% Series A Cumulative Preferred Stock takes out the full calculated possible swing range there will be an estimated 11.06% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $10.85, some $0.312 (2.80%) from the current price of $11.16, our system finds the risk reward attractive.
Is Mitcham Industries Inc. Series A 9.00% Series A Cumulative Preferred Stock stock A Buy?
Mitcham Industries Inc. Series A 9.00% holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
Current score: 5.861 Strong Buy Candidate Unchanged
Predicted Opening Price for Mitcham Industries Inc. Series A 9.00% Series A Cumulative Preferred Stock of Monday, May 6, 2024
Fair opening price May 6, 2024 | Current price |
---|---|
$10.99 ( 1.57%) | $11.16 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MINDP
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 11.59 | 3.81 % | |
R2 | 11.36 | 1.75 % | ||
R1 | 11.22 | 0.486 % | ||
Current price: | 11.16 | |||
Support | S1 | 10.76 | -3.62 % | |
S2 | 10.62 | -4.89 % | ||
S3 | 10.39 | -6.94 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 11.16 | |||
Support | S1 | 10.85 | -2.80% | |
S2 | 10.60 | -5.04% | ||
S3 | 10.38 | -6.97% |
MINDP Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Sep 26, 2023 | Oct 12, 2023 | Oct 31, 2023 | $0.563 | 4.69% |
2 | Apr 04, 2022 | Apr 13, 2022 | Apr 30, 2022 | $0.563 | 3.64% |
3 | Jan 03, 2022 | Jan 13, 2022 | Jan 31, 2022 | $0.563 | 3.13% |
4 | Oct 04, 2021 | Oct 14, 2021 | Oct 31, 2021 | $0.563 | 2.30% |
5 | Jul 06, 2021 | Jul 14, 2021 | Jul 31, 2021 | $0.563 | 2.24% |
FAQ
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