MPC Container Ships AS Stock Forecast

Red day on Friday for MPC Container Ships AS
(Updated on May 03, 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 kr17.20 and kr13.85. 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). 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 30, 2024, and so far it has fallen -2.29%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

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

MPC Container Ships AS finds support from accumulated volume at kr17.26 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 very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved kr0.350 between high and low, or 2.02%. For the last week, the stock has had daily average volatility of 5.03%.

The MPC Container Ships AS stock is overbought on RSI14 and the RSI has been falling for the last couple of days. This together with the fact that the stock is in the upper part of the trend poses a possible good selling opportunity for the short-term trader. However, one should note that some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.

Our recommended stop-loss: kr16.78 (-4.16%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 83 and this increases the risk substantially. There is a sell signal from a pivot top found 2 days ago.)

Trading Expectations (MPCC.OL) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect MPC Container Ships AS to open at kr17.52, and during the day (based on 14 day Average True Range), to move between kr16.82 and kr18.19, which gives a possible trading interval of +/-kr0.690 (+/-3.94%) 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 7.88% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at kr17.71 (1.17%) than the support at kr17.26 (1.40%), 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?

Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for MPC Container Ships AS stock to perform well in the short-term period.

Current score: 2.363 Buy Candidate Unchanged

Predicted Opening Price for MPC Container Ships AS of Monday, May 6, 2024

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