Medibank Private Limited Stock Forecast

Medibank Private Limited stock price up 0.88% on Friday
(Updated on May 03, 2024)

MPL.AX Signals & Forecast

A buy signal was issued from a pivot bottom point on Thursday, May 02, 2024, and so far it has risen 0.88%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Medibank Private Limited 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 $3.52 and $3.68. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Medibank Private Limited stock

Medibank Private Limited finds support from accumulated volume at $3.41 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.0600 (1.76%) between high and low. For the last week, the stock has had daily average volatility of 2.22%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (MPL.AX) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect Medibank Private Limited to open at $3.44, and during the day (based on 14 day Average True Range), to move between $3.37 and $3.51, which gives a possible trading interval of +/-$0.0691 (+/-2.01%) up or down from last closing price. If Medibank Private Limited takes out the full calculated possible swing range there will be an estimated 4.01% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $3.41 (0.87%) than the resistance at $3.69 (7.27%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Medibank Private Limited stock A Buy?

Medibank Private Limited holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.

Current score: -2.367 Sell Candidate Unchanged

Predicted Opening Price for Medibank Private Limited of Monday, May 6, 2024

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