Mogo Finance Technology Inc. Stock Forecast
Evaluation of Mogo Finance Technology Inc. stock downgraded after the last trading session.
(Updated on May 02, 2024)
The Mogo Finance Technology Inc. stock price gained 0.543% on the last trading day (Thursday, 2nd May 2024), rising from $1.84 to $1.85. During the last trading day the stock fluctuated 1.63% from a day low at $1.84 to a day high of $1.87. The price has risen in 5 of the last 10 days. Volume fell on the last day by -11 thousand shares and in total, 11 thousand shares were bought and sold for approximately $20.14 thousand. 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 has broken the wide and weak rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at $1.87. A reaction back to this level may hold a second chance to get out before further falls.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
MOGO Signals & Forecast
There are few to no technical positive signals at the moment. The Mogo Finance Technology Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $1.86 and $1.92. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, March 19, 2024, and so far it has fallen -15.14%. 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 during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Mogo Finance Technology Inc. stock
Mogo Finance Technology Inc. finds support from accumulated volume at $1.84 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0300 between high and low, or 1.63%. For the last week the stock has had daily average volatility of 2.57%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MOGO) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Mogo Finance Technology Inc. to open at $1.85, and during the day (based on 14 day Average True Range), to move between $1.77 and $1.93, which gives a possible trading interval of +/-$0.0792 (+/-4.28%) up or down from last closing price. If Mogo Finance Technology Inc. takes out the full calculated possible swing range there will be an estimated 8.57% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.84 (0.54%) than the resistance at $1.93 (4.05%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Mogo Finance Technology Inc. will release earnings BMO on Thursday, May 09, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.140. We will update the financials statements for Mogo Finance Technology Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 14.32% in the first trading day after earnings release.
Is Mogo Finance Technology Inc. stock A Buy?
The Mogo Finance Technology Inc. stock holds several negative signals and despite the positive trend, we believe Mogo Finance Technology Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -3.813 Sell Candidate Downgraded
Predicted Opening Price for Mogo Finance Technology Inc. of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $1.85 ( 0.180%) | $1.85 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MOGO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.88 | 1.80 % | |
| R2 | 1.87 | 1.18 % | ||
| R1 | 1.86 | 0.800 % | ||
| Current price: | 1.85 | |||
| Support | S1 | 1.84 | -0.439 % | |
| S2 | 1.83 | -0.82 % | ||
| S3 | 1.82 | -1.44 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.00 | 8.11 % | |
| R2 | 1.99 | 7.57 % | ||
| R1 | 1.93 | 4.05 % | ||
| Current price | 1.85 | |||
| Support | S1 | 1.84 | -0.541% | |
| S2 | 1.77 | -4.32% | ||
| S3 | 1.68 | -9.19% |
MOGO Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 21, 2019 | Mar 21, 2019 | Apr 05, 2019 | $0.224 | 3.18% |
FAQ
Click here for our free guide on how to buy Mogo Finance Technology Inc. Stock.
