Multiplan Corporation Stock Forecast
Red day on Friday for Multiplan Corporation
(Updated on May 03, 2024)
The Multiplan Corporation stock price fell by -1.32% on the last day (Friday, 3rd May 2024) from $0.666 to $0.657. During the last trading day the stock fluctuated 8.23% from a day low at $0.647 to a day high of $0.700. The price has been going up and down for this period, and there has been a 1.03% gain for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -455 thousand shares and in total, 690 thousand shares were bought and sold for approximately $453.26 thousand.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -42.34% during the next 3 months and, with a 90% probability hold a price between $0.269 and $0.468 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
MPLN Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 18.75%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Multiplan Corporation stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $0.737. On a fall, the stock will find some support from the short-term average at $0.632. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Multiplan Corporation stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.582 and $0.560. 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, Multiplan Corporation finds support just below today's level at $0.582. If this is broken, then the next support from accumulated volume will be at $0.560 and $0.553.
This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.0532 between high and low, or 8.23%. For the last week the stock has had daily average volatility of 9.49%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MPLN) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Multiplan Corporation to open at $0.668, and during the day (based on 14 day Average True Range), to move between $0.586 and $0.728, which gives a possible trading interval of +/-$0.0707 (+/-10.76%) up or down from last closing price. If Multiplan Corporation takes out the full calculated possible swing range there will be an estimated 21.52% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.675 (2.82%) than the support at $0.582 (11.43%), 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.
Earnings coming up
Multiplan Corporation will release earnings BMO on Wednesday, May 08, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.0500. We will update the financials statements for Multiplan Corporation, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 15.11% in the first trading day after earnings release.
Is Multiplan Corporation stock A Buy?
Multiplan Corporation holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -1.537 Sell Candidate Unchanged
Predicted Opening Price for Multiplan Corporation of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $0.668 ( 1.67%) | $0.657 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MPLN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.721 | 9.77 % | |
| R2 | 0.701 | 6.68 % | ||
| R1 | 0.688 | 4.77 % | ||
| Current price: | 0.657 | |||
| Support | S1 | 0.648 | -1.42 % | |
| S2 | 0.635 | -3.33 % | ||
| S3 | 0.615 | -6.42 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.82 | 24.49 % | |
| R2 | 0.710 | 8.01 % | ||
| R1 | 0.675 | 2.82 % | ||
| Current price | 0.657 | |||
| Support | S1 | 0.582 | -11.43% | |
| S2 | 0.560 | -14.72% | ||
| S3 | 0.553 | -15.79% |
FAQ
Click here for our free guide on how to buy Multiplan Corporation Stock.
