Mandalay Resources Corporation Stock Forecast
Mandalay Resources Corporation stock price ended at $2.29 on Friday, after losing 0.435%.
(Updated on May 31, 2024)
The Mandalay Resources Corporation stock price fell by -0.435% on the last day (Friday, 31st May 2024) from $2.30 to $2.29. During the last trading day the stock fluctuated 1.77% from a day low at $2.26 to a day high of $2.30. The price has risen in 5 of the last 10 days and is up by 8.02% 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 -30 thousand shares and in total, 4 thousand shares were bought and sold for approximately $9.24 thousand.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $2.19 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 55.03% during the next 3 months and, with a 90% probability hold a price between $3.40 and $4.38 at the end of this 3-month period.
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MND.TO Signals & Forecast
The Mandalay Resources Corporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $2.27 and $2.28. 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 Tuesday, April 23, 2024, and so far it has fallen -4.18%. 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 along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Mandalay Resources Corporation stock
Mandalay Resources Corporation finds support from accumulated volume at $2.19 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the stock. During the last day, the stock moved $0.0400 between high and low, or 1.77%. For the last week the stock has had daily average volatility of 1.60%.
Our recommended stop-loss: $2.15 (-6.08%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 66 days ago.)
Trading Expectations (MND.TO) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Mandalay Resources Corporation to open at $2.28, and during the day (based on 14 day Average True Range), to move between $2.21 and $2.37, which gives a possible trading interval of +/-$0.0751 (+/-3.28%) up or down from last closing price. If Mandalay Resources Corporation takes out the full calculated possible swing range there will be an estimated 6.56% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $2.30 (0.44%) than the support at $2.19 (4.37%), 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 Mandalay Resources Corporation 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 Mandalay Resources Corporation stock to perform well in the short-term.
Current score: 1.329 Buy Candidate Unchanged
Predicted Opening Price for Mandalay Resources Corporation of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| $2.28 ( 0.291%) | $2.29 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MND.TO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.32 | 1.46 % | |
| R2 | 2.31 | 0.788 % | ||
| R1 | 2.30 | 0.376 % | ||
| Current price: | 2.29 | |||
| Support | S1 | 2.27 | -0.96 % | |
| S2 | 2.26 | -1.37 % | ||
| S3 | 2.24 | -2.04 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.39 | 4.37 % | |
| R2 | 2.33 | 1.75 % | ||
| R1 | 2.30 | 0.437 % | ||
| Current price | 2.29 | |||
| Support | S1 | 2.19 | -4.37% | |
| S2 | 2.12 | -7.42% | ||
| S3 | 2.02 | -11.79% |
MND Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 11, 2017 | May 17, 2017 | Jun 01, 2017 | $0.0800 | 1.38% |
| 2 | Feb 17, 2017 | Feb 23, 2017 | Mar 09, 2017 | $0.0600 | 0.97% |
| 3 | Nov 03, 2016 | Nov 09, 2016 | Nov 24, 2016 | $0.0900 | 1.14% |
| 4 | Aug 12, 2016 | Aug 18, 2016 | Sep 01, 2016 | $0.0900 | 0.82% |
| 5 | May 12, 2016 | May 19, 2016 | Jun 03, 2016 | $0.0900 | 0.84% |
FAQ
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