Montauk Renewables, Inc. Stock Forecast
Montauk Renewables, Inc. stock price up more than 5.85% on Friday
(Updated on May 03, 2024)
The Montauk Renewables, Inc. stock price gained 5.85% on the last trading day (Friday, 3rd May 2024), rising from $3.76 to $3.98. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 4.98% from a day low at $3.81 to a day high of $4.00. The price has risen in 9 of the last 10 days and is up by 14.37% 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, 59 thousand more shares were traded than the day before. In total, 185 thousand shares were bought and sold for approximately $736.30 thousand.
Given the current short-term trend, the stock is expected to fall -45.33% during the next 3 months and, with a 90% probability hold a price between $1.55 and $2.18 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
MNTK Signals & Forecast
The Montauk Renewables, Inc. 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 $3.78 and $3.96. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 16.03%. Further rise is indicated until a new top pivot has been found. Montauk Renewables, Inc. has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Montauk Renewables, Inc. stock
Montauk Renewables, Inc. finds support from accumulated volume at $3.83 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 $0.190 between high and low, or 4.98%. For the last week, the stock has had daily average volatility of 4.70%.
Our recommended stop-loss: $3.82 (-4.08%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 11 days ago.)
Trading Expectations (MNTK) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Montauk Renewables, Inc. to open at $3.93, and during the day (based on 14 day Average True Range), to move between $3.72 and $4.24, which gives a possible trading interval of +/-$0.262 (+/-6.58%) up or down from last closing price. If Montauk Renewables, Inc. takes out the full calculated possible swing range there will be an estimated 13.16% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $4.04 (1.51%) than the support at $3.83 (3.77%), 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.
Earnings coming up
Montauk Renewables, Inc. will release earnings AMC on Thursday, May 09, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.0100. We will update the financials statements for Montauk Renewables, Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.81% in the first trading day after earnings release.
Is Montauk Renewables, Inc. stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 2.135 Buy Candidate Upgraded
Predicted Opening Price for Montauk Renewables, Inc. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $3.93 ( 1.26%) | $3.98 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MNTK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.12 | 3.52 % | |
| R2 | 4.05 | 1.69 % | ||
| R1 | 4.00 | 0.567 % | ||
| Current price: | 3.98 | |||
| Support | S1 | 3.86 | -3.08 % | |
| S2 | 3.81 | -4.20 % | ||
| S3 | 3.74 | -6.03 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.29 | 7.79 % | |
| R2 | 4.23 | 6.28 % | ||
| R1 | 4.04 | 1.51 % | ||
| Current price | 3.98 | |||
| Support | S1 | 3.83 | -3.77% | |
| S2 | 3.76 | -5.53% | ||
| S3 | 3.61 | -9.42% |
FAQ
Click here for our free guide on how to buy Montauk Renewables, Inc. Stock.
