Mountain Province Diamonds Inc. Stock Forecast
Weaker technical forecast for Mountain Province Diamonds Inc. as stock downgraded to Sell Candidate.
(Updated on May 02, 2024)
The Mountain Province Diamonds Inc. stock price fell by -3.32% on the last day (Thursday, 2nd May 2024) from $0.126 to $0.122. During the last trading day the stock fluctuated 6.48% from a day low at $0.122 to a day high of $0.130. The price has fallen in 5 of the last 10 days but is still up by 5.08% over the past 2 weeks. Volume has increased on the last day by 4 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 14 thousand shares were bought and sold for approximately $1.74 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 -26.58% during the next 3 months and, with a 90% probability hold a price between $0.0777 and $0.127 at the end of this 3-month period.
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MPVDF Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 5.08%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Mountain Province Diamonds Inc. 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 $0.126 and $0.148. A break-up above any of these levels will issue buy signals. Mountain Province Diamonds Inc. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Mountain Province Diamonds Inc. stock
Mountain Province Diamonds Inc. finds support from accumulated volume at $0.120 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 much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.0079 between high and low, or 6.48%. For the last week, the stock has had daily average volatility of 3.64%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MPVDF) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Mountain Province Diamonds Inc. to open at $0.125, and during the day (based on 14 day Average True Range), to move between $0.114 and $0.130, which gives a possible trading interval of +/-$0.0080 (+/-6.53%) up or down from last closing price. If Mountain Province Diamonds Inc. takes out the full calculated possible swing range there will be an estimated 13.06% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.120 (1.31%) than the resistance at $0.126 (3.20%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Mountain Province Diamonds Inc. will release earnings AMC on Tuesday, May 07, 2024. We will update the financials statements for Mountain Province Diamonds Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.94% in the first trading day after earnings release.
Is Mountain Province Diamonds Inc. stock A Buy?
Mountain Province Diamonds Inc. holds several negative signals and is within a very 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -3.116 Sell Candidate Downgraded
Predicted Opening Price for Mountain Province Diamonds Inc. of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $0.125 ( 2.16%) | $0.122 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MPVDF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.133 | 8.63 % | |
| R2 | 0.130 | 6.16 % | ||
| R1 | 0.128 | 4.63 % | ||
| Current price: | 0.122 | |||
| Support | S1 | 0.122 | -0.315 % | |
| S2 | 0.120 | -1.84 % | ||
| S3 | 0.117 | -4.32 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.150 | 22.70 % | |
| R2 | 0.130 | 6.89 % | ||
| R1 | 0.126 | 3.20 % | ||
| Current price | 0.122 | |||
| Support | S1 | 0.120 | -1.31% | |
| S2 | 0.116 | -4.59% | ||
| S3 | 0.116 | -4.84% |
MPVDF Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 08, 2018 | Sep 07, 2018 | Sep 25, 2018 | $0.0300 | 1.33% |
FAQ
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