RSI low/high Values: [ 25 - 75 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of MITK
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Weaker technical forecast for Mitek Systems as stock downgraded to Hold/Accumulate.
(Updated on Jul 19, 2024)

Buy or Hold candidate since Jul 16, 2024 Loss -0.90% PDF

The Mitek Systems stock price gained 0.415% on the last trading day (Friday, 19th Jul 2024), rising from $12.05 to $12.10. During the last trading day the stock fluctuated 1.88% from a day low at $11.98 to a day high of $12.20. The price has risen in 7 of the last 10 days and is up by 10.4% 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, 268 thousand more shares were traded than the day before. In total, 610 thousand shares were bought and sold for approximately $7.38 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 -15.56% during the next 3 months and, with a 90% probability hold a price between $8.92 and $10.57 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.

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MITK Signals & Forecast

The Mitek Systems 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 $11.84 and $11.60. A breakdown below any of these levels will issue sell signals. 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. 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 Tuesday, July 16, 2024, and so far it has fallen -0.90%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for Mitek Systems stock

Mitek Systems finds support from accumulated volume at $11.54 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 $0.225 between high and low, or 1.88%. For the last week, the stock has had daily average volatility of 3.03%.

Our recommended stop-loss: $11.63 (-3.88%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 8 days ago.)

Trading Expectations (MITK) For The Upcoming Trading Day Of Monday 22nd

For the upcoming trading day on Monday, 22nd we expect Mitek Systems to open at $12.09, and during the day (based on 14 day Average True Range), to move between $11.73 and $12.47, which gives a possible trading interval of +/-$0.372 (+/-3.08%) up or down from last closing price. If Mitek Systems takes out the full calculated possible swing range there will be an estimated 6.16% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $11.54 (4.63%) than the resistance at $12.94 (6.94%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Mitek Systems stock A Buy?

Mitek Systems 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: 0.117 Hold/Accumulate Downgraded

Predicted Opening Price for Mitek Systems of Monday, July 22, 2024

Fair opening price July 22, 2024 Current price
$12.09 ( 0.0689%) $12.10

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for MITK

Fibonacci Support & Resistance Levels

Level Price
R3 12.32 1.79%
R2 12.23 1.08%
R1 12.18 0.641%
Price 12.10
S1 12.01 -0.779%
S2 11.95 -1.22%
S3 11.87 -1.93%

Accumulated Volume Support & Resistance Levels

Level Price
R3 14.18 17.19%
R2 13.38 10.58%
R1 12.94 6.94%
Price 12.10
S1 11.54 -4.63%
S2 11.41 -5.70%
S3 11.18 -7.60%

FAQ

What is the symbol for Mitek Systems Stock and on which exchange is it traded?
The symbol for Mitek Systems is MITK and it is traded on the NASDAQ (NASDAQ Stock Exchange).

Should I buy or sell Mitek Systems Stock?
Mitek Systems 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

How to buy Mitek Systems Stock?
Mitek Systems Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Mitek Systems Stock.

What's the current price of Mitek Systems Stock?
As of the end of day on the Jul 19, 2024, the price of an Mitek Systems (MITK) share was $12.10.

What is the 52-week high and low for Mitek Systems Stock?
The 52-week high for Mitek Systems Stock is $16.19 and the 52-week low is $9.47.

What is the market capitalization of Mitek Systems Stock?
As of the Jul 19, 2024, the market capitalization of Mitek Systems is 566.166M.

When is the next earnings date for Mitek Systems?
The upcoming earnings date for Mitek Systems is Sep 03, 2024.
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About Mitek Systems

Mitek Systems Mitek Systems, Inc. develops, markets, and sells mobile image capture and digital identity verification solutions in the United States, Europe, Latin America, and internationally. The company's solutions are embedded in native mobile apps and web browsers to facilitate digital consumer experiences. It offers Mobile Deposit that enables individuals and businesses to remotely deposit checks using their camera-equipped smartphone or tablet; and Mobi... MITK Profile

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