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AI Analysis of MLR
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Miller Industries Inc stock upgraded from Hold/Accumulate to Buy Candidate after Thursday trading session.
(Updated on Apr 11, 2024)

Buy or Hold candidate since Feb 07, 2024 Gain 22.62% PDF

The Miller Industries Inc stock price gained 2.19% on the last trading day (Thursday, 11th Apr 2024), rising from $51.13 to $52.25. During the last trading day the stock fluctuated 3.16% from a day low at $50.67 to a day high of $52.27. The price has risen in 7 of the last 10 days and is up by 4.19% over the past 2 weeks. Volume fell on the last day by -9 thousand shares and in total, 52 thousand shares were bought and sold for approximately $2.70 million. 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 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 34.49% during the next 3 months and, with a 90% probability hold a price between $67.66 and $72.06 at the end of this 3-month period.

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MLR Signals & Forecast

The Miller Industries Inc 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 $52.14 and $48.19. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. 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, April 09, 2024, and so far it has fallen -1.66%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for Miller Industries Inc stock

Miller Industries Inc finds support from accumulated volume at $50.66 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 $1.60 between high and low, or 3.16%. For the last week, the stock has had daily average volatility of 2.59%.

Our recommended stop-loss: $50.30 (-3.74%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 2 days ago.)

Trading Expectations (MLR) For The Upcoming Trading Day Of Monday 15th

For the upcoming trading day on Monday, 15th we expect Miller Industries Inc to open at $51.73, and during the day (based on 14 day Average True Range), to move between $50.95 and $53.55, which gives a possible trading interval of +/-$1.30 (+/-2.48%) up or down from last closing price. If Miller Industries Inc takes out the full calculated possible swing range there will be an estimated 4.96% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $52.80 (1.05%) than the support at $50.66 (3.04%), 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 Miller Industries Inc 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 Miller Industries Inc stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 2.953 Buy Candidate Upgraded

Predicted Opening Price for Miller Industries Inc of Monday, April 15, 2024

Fair opening price April 15, 2024 Current price
$51.73 ( 1.00%) $52.25

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

Trading levels for MLR

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 53.33 2.07 %
R2 52.72 0.90 %
R1 52.34 0.175 %
Current price: 52.25
Support S1 51.12 -2.16 %
S2 50.74 -2.89 %
S3 50.13 -4.06 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 53.13 1.68 %
R2 53.01 1.45 %
R1 52.80 1.05 %
Current price 52.25
Support S1 50.66 -3.04%
S2 49.95 -4.40%
S3 42.04 -19.54%

MLR Dividend Payout History


# Declaration Date Ex-Date Pay Date Amount Yield
1 Mar 06, 2024 Mar 15, 2024 Mar 25, 2024 $0.190 0.380%
2 Nov 08, 2023 Dec 01, 2023 Dec 11, 2023 $0.180 0.440%
3 Aug 09, 2023 Aug 31, 2023 Sep 11, 2023 $0.180 0.464%
4 May 01, 2023 Jun 02, 2023 Jun 12, 2023 $0.180 0.499%
5 Mar 08, 2023 Mar 17, 2023 Mar 27, 2023 $0.180 0.532%

FAQ

What is the symbol for Miller Industries Inc Stock and on which exchange is it traded?
The symbol for Miller Industries Inc is MLR and it is traded on the NYSE (New York Stock Exchange).

Should I buy or sell Miller Industries Inc Stock?
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 Miller Industries Inc stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

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

What's the current price of Miller Industries Inc Stock?
As of the end of day on the 2024-04-11, the price of an Miller Industries Inc (MLR) share was $52.25.

What is the 52-week high and low for Miller Industries Inc Stock?
The 52-week high for Miller Industries Inc Stock is $53.82 and the 52-week low is $32.38.

What is the market capitalization of Miller Industries Inc Stock?
As of the 2024-04-11, the market capitalization of Miller Industries Inc is 575.485M.

When is the next earnings date for Miller Industries Inc?
The upcoming earnings date for Miller Industries Inc is May 01, 2024.
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About Miller Industries Inc

Miller Industries Miller Industries, Inc., together with its subsidiaries, manufactures and sells towing and recovery equipment. The company offers wreckers that are used to recover and tow disabled vehicles and other equipment; and car carriers, which are specialized flatbed vehicles with hydraulic tilt mechanisms, which are used to transport new or disabled vehicles and other equipment. It also provides transport trailers for moving various vehicles for auto auc... MLR Profile

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