Mercantile Ports & Logistics Limited Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Big movements in Mercantile Ports & Logistics Limited stock price on Friday moving 29.41% between high and low
(Updated on Jun 28, 2024)
The Mercantile Ports & Logistics Limited stock price gained 37.50% on the last trading day (Friday, 28th Jun 2024), rising from £1.60 to £2.20. During the last trading day the stock fluctuated 29.41% from a day low at £1.70 to a day high of £2.20. The price has been going up and down for this period, and there has been a 41.94% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 96 thousand more shares were traded than the day before. In total, 96 thousand shares were bought and sold for approximately £211.11 thousand.
Given the current short-term trend, the stock is expected to fall -8.38% during the next 3 months and, with a 90% probability hold a price between £1.34 and £2.02 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.
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MPL.L Signals & Forecast
The Mercantile Ports & Logistics Limited 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 £1.66 and £1.62. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, June 17, 2024, and so far it has risen 47.85%. 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). Mercantile Ports & Logistics Limited 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.
Support, Risk & Stop-loss for Mercantile Ports & Logistics Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at £1.80 and £1.66. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at £1.66 may give a huge drop in the stock price.
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 £0.500 between high and low, or 29.41%. For the last week, the stock has had daily average volatility of 8.95%.
Our recommended stop-loss: £2.12 (-3.46%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 17 days ago.)
Trading Expectations (MPL.L) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Mercantile Ports & Logistics Limited to open at £2.03, and during the day (based on 14 day Average True Range), to move between £2.09 and £2.31, which gives a possible trading interval of +/-£0.109 (+/-4.97%) up or down from last closing price. If Mercantile Ports & Logistics Limited takes out the full calculated possible swing range there will be an estimated 9.95% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ £1.80, some £0.400 (18.18%) from the current price of £2.20, our system finds the risk reward attractive.
Is Mercantile Ports & Logistics Limited stock A Buy?
Mercantile Ports & Logistics Limited 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.
Current score: 0.000 Hold/Accumulate Unchanged
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 Mercantile Ports & Logistics Limited of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| £2.03 ( 7.58%) | £2.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MPL.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 2.53 | 15.15% |
| R2 | 2.34 | 6.47% |
| R1 | 2.22 | 1.11% |
| Price | 2.20 | |
| S1 | 1.84 | -16.26% |
| S2 | 1.72 | -21.62% |
| S3 | 1.53 | -30.30% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 2.20 | |
| S1 | 1.80 | -18.18% |
| S2 | 1.66 | -24.55% |
| S3 | 0 | - |
FAQ
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