MIPS AB (publ) Stock Forecast
Weaker technical forecast for MIPS AB (publ) as stock downgraded to Buy Candidate.
(Updated on May 17, 2024)
The MIPS AB (publ) stock price gained 0.87% on the last trading day (Friday, 17th May 2024), rising from kr414.60 to kr418.20. It has now gained 6 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 2.24% from a day low at kr409.80 to a day high of kr419.00. The price has risen in 9 of the last 10 days and is up by 12.12% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 14 thousand more shares were traded than the day before. In total, 34 thousand shares were bought and sold for approximately kr14.21 million.
The stock lies in the middle of a 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 29.54% during the next 3 months and, with a 90% probability hold a price between kr475.79 and kr558.63 at the end of this 3-month period.
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MIPS.ST Signals & Forecast
Mostly positive signals in the chart today. The MIPS AB (publ) 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 kr404.89 and kr367.71. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, March 06, 2024, and so far it has risen 44.91%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for MIPS AB (publ) stock
On the downside, the stock finds support just below today's level from accumulated volume at kr365.80 and kr365.00. 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, MIPS AB (publ) finds support just below today's level at kr365.80. If this is broken, then the next support from accumulated volume will be at kr365.00 and kr347.00.
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 kr9.20 between high and low, or 2.24%. For the last week, the stock has had daily average volatility of 3.33%.
Since the MIPS AB (publ) has been rising for 6 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Our recommended stop-loss: kr403.31 (-3.56%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 48 days ago.)
Trading Expectations (MIPS.ST) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect MIPS AB (publ) to open at kr415.67, and during the day (based on 14 day Average True Range), to move between kr402.18 and kr434.22, which gives a possible trading interval of +/-kr16.02 (+/-3.83%) up or down from last closing price. If MIPS AB (publ) takes out the full calculated possible swing range there will be an estimated 7.66% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ kr365.80, some kr52.40 (12.53%) from the current price of kr418.20, our system finds the risk reward attractive.
Is MIPS AB (publ) stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for MIPS AB (publ) stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 4.898 Buy Candidate Downgraded
Predicted Opening Price for MIPS AB (publ) of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| kr415.67 ( 0.606%) | kr418.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MIPS.ST
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 424.87 | 1.59 % | |
| R2 | 421.35 | 0.754 % | ||
| R1 | 419.18 | 0.235 % | ||
| Current price: | 418.20 | |||
| Support | S1 | 412.15 | -1.45 % | |
| S2 | 409.98 | -1.97 % | ||
| S3 | 406.47 | -2.81 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 418.20 | |||
| Support | S1 | 365.80 | -12.53% | |
| S2 | 365.00 | -12.72% | ||
| S3 | 347.00 | -17.03% |
MIPS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 08, 2024 | May 08, 2024 | May 15, 2024 | kr6.00 | 1.46% |
| 2 | May 11, 2023 | May 11, 2023 | May 11, 2023 | kr5.50 | 1.05% |
| 3 | May 06, 2022 | May 06, 2022 | May 06, 2022 | kr5.00 | 0.85% |
| 4 | May 07, 2021 | May 07, 2021 | May 07, 2021 | kr3.50 | 0.523% |
| 5 | May 08, 2020 | May 08, 2020 | May 08, 2020 | kr3.00 | 1.18% |
FAQ
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