MPC Container Ships AS Stock Forecast

High volatility in MPC Container Ships AS stock price on Wednesday which ended trading at kr15.89
(Updated on Apr 24, 2024)

MPCC.OL Signals & Forecast

The MPC Container Ships AS 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 kr13.79 and kr13.13. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, March 22, 2024, and so far it has risen 36.69%. Further rise is indicated until a new top pivot has been found. 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.

Support, Risk & Stop-loss for MPC Container Ships AS stock

On the downside, the stock finds support just below today's level from accumulated volume at kr15.05 and kr14.03. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, MPC Container Ships AS finds support just below today's level at kr15.05. If this is broken, then the next support from accumulated volume will be at kr14.03 and kr13.95.

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 kr1.88 between high and low, or 13.33%. For the last week, the stock has had daily average volatility of 5.89%.

Our recommended stop-loss: kr15.01 (-5.56%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 20 days ago.)

Trading Expectations (MPCC.OL) For The Upcoming Trading Day Of Thursday 25th

For the upcoming trading day on Thursday, 25th we expect MPC Container Ships AS to open at kr15.33, and during the day (based on 14 day Average True Range), to move between kr15.29 and kr16.49, which gives a possible trading interval of +/-kr0.604 (+/-3.80%) up or down from last closing price. If MPC Container Ships AS takes out the full calculated possible swing range there will be an estimated 7.61% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at kr16.00 (0.69%) than the support at kr15.05 (5.32%), 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 MPC Container Ships AS stock A Buy?

MPC Container Ships AS 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: 0.000 Hold/Accumulate Downgraded

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for MPC Container Ships AS of Thursday, April 25, 2024

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