Mirriad Advertising plc 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
Red day on Thursday for Mirriad Advertising plc
(Updated on May 02, 2024)
The Mirriad Advertising plc stock price fell by -1.14% on the last day (Thursday, 2nd May 2024) from £2.20 to £2.18. During the last trading day the stock fluctuated 8.64% from a day low at £2.03 to a day high of £2.20. The price has risen in 5 of the last 10 days and is up by 20.83% over the past 2 weeks. 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 -647 thousand shares and in total, 4 million shares were bought and sold for approximately £7.77 million.
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 42.68% during the next 3 months and, with a 90% probability hold a price between £2.60 and £3.63 at the end of this 3-month period.
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MIRI.L Signals & Forecast
The Mirriad Advertising plc 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 £2.03 and £1.94. A breakdown below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, May 01, 2024, and so far it has fallen -1.14%. 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 Mirriad Advertising plc stock
Mirriad Advertising plc finds support from accumulated volume at £2.15 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 a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved £0.175 between high and low, or 8.64%. For the last week, the stock has had daily average volatility of 14.11%.
Our recommended stop-loss: £2.08 (-4.41%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (MIRI.L) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Mirriad Advertising plc to open at £2.13, and during the day (based on 14 day Average True Range), to move between £1.97 and £2.38, which gives a possible trading interval of +/-£0.206 (+/-9.46%) up or down from last closing price. If Mirriad Advertising plc takes out the full calculated possible swing range there will be an estimated 18.92% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £2.15 (1.15%) than the resistance at £2.24 (2.99%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Mirriad Advertising plc 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 Mirriad Advertising plc stock to perform well in the short-term.
Current score: 4.442 Buy Candidate Unchanged
Predicted Opening Price for Mirriad Advertising plc of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| £2.13 ( 1.92%) | £2.18 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MIRI.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.31 | 6.13 % | |
| R2 | 2.24 | 3.06 % | ||
| R1 | 2.20 | 1.16 % | ||
| Current price: | 2.18 | |||
| Support | S1 | 2.07 | -4.99 % | |
| S2 | 2.03 | -6.89 % | ||
| S3 | 1.96 | -9.96 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.33 | 7.08 % | |
| R2 | 2.28 | 4.60 % | ||
| R1 | 2.24 | 2.99 % | ||
| Current price | 2.18 | |||
| Support | S1 | 2.15 | -1.15% | |
| S2 | 1.90 | -12.64% | ||
| S3 | 1.78 | -18.39% |
FAQ
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