Marine Products Corporation Stock Forecast
Evaluation of Marine Products Corporation stock downgraded after the last trading session.
(Updated on Apr 23, 2024)
The Marine Products Corporation stock price gained 0.99% on the last trading day (Tuesday, 23rd Apr 2024), rising from $11.13 to $11.24. During the last trading day the stock fluctuated 2.24% from a day low at $11.15 to a day high of $11.40. The price has fallen in 6 of the last 10 days and is down by -4.01% for this period. Volume fell on the last day by -18 thousand shares and in total, 14 thousand shares were bought and sold for approximately $162.92 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 6.59% during the next 3 months and, with a 90% probability hold a price between $11.43 and $13.45 at the end of this 3-month period.
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MPX Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Friday, April 19, 2024, and so far it has fallen -0.794%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not. The Marine Products Corporation 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 $11.01 and $10.98. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for Marine Products Corporation stock
On the downside, the stock finds support just below today's level from accumulated volume at $10.57 and $10.49. 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, Marine Products Corporation finds support just below today's level at $10.57. If this is broken, then the next support from accumulated volume will be at $10.49 and $10.38.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.250 between high and low, or 2.24%. For the last week the stock has had daily average volatility of 4.00%.
Our recommended stop-loss: $10.80 (-3.91%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (MPX) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Marine Products Corporation to open at $11.26, and during the day (based on 14 day Average True Range), to move between $10.84 and $11.64, which gives a possible trading interval of +/-$0.401 (+/-3.57%) up or down from last closing price. If Marine Products Corporation takes out the full calculated possible swing range there will be an estimated 7.13% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $11.46 (1.96%) than the support at $10.57 (5.96%), 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
Marine Products Corporation will release earnings BMO on Thursday, April 25, 2024. We will update the financials statements for Marine Products Corporation, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 8.86% in the first trading day after earnings release.
Is Marine Products Corporation stock A Buy?
Marine Products Corporation 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.552 Hold/Accumulate Downgraded
Predicted Opening Price for Marine Products Corporation of Wednesday, April 24, 2024
Fair opening price April 24, 2024 | Current price |
---|---|
$11.26 ( 0.207%) | $11.24 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MPX
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 11.51 | 2.43 % | |
R2 | 11.42 | 1.58 % | ||
R1 | 11.36 | 1.06 % | ||
Current price: | 11.24 | |||
Support | S1 | 11.17 | -0.642 % | |
S2 | 11.11 | -1.17 % | ||
S3 | 11.01 | -2.02 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 12.00 | 6.76 % | |
R2 | 11.63 | 3.47 % | ||
R1 | 11.46 | 1.96 % | ||
Current price | 11.24 | |||
Support | S1 | 10.57 | -5.96% | |
S2 | 10.49 | -6.67% | ||
S3 | 10.38 | -7.65% |
MPX Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 28, 2024 | Feb 28, 2024 | Mar 11, 2024 | $0.140 | 1.31% |
2 | Jan 25, 2024 | Feb 08, 2024 | Mar 11, 2024 | $0.140 | 1.31% |
3 | Oct 25, 2023 | Nov 09, 2023 | Dec 11, 2023 | $0.140 | 1.34% |
4 | Jul 26, 2023 | Aug 09, 2023 | Sep 11, 2023 | $0.140 | 1.03% |
5 | Apr 26, 2023 | May 09, 2023 | Jun 09, 2023 | $0.140 | 0.87% |
FAQ
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