MPC Container Ships ASA Stock Forecast

Green day on Tuesday for MPC Container Ships ASA
(Updated on Jul 02, 2024)

MPZZF Signals & Forecast

There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Thursday, June 06, 2024, and so far it has fallen -2.74%. 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 not be. The very low volume increases the risk and reduces the other technical signals issued. The MPC Container Ships ASA 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 $2.05 and $1.99. A breakdown below any of these levels will issue sell signals.

Support, Risk & Stop-loss for MPC Container Ships ASA stock

On the downside, the stock finds support just below today's level from accumulated volume at $2.00 and $1.81. 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, MPC Container Ships ASA finds support just below today's level at $2.00. If this is broken, then the next support from accumulated volume will be at $1.81 and $1.61.

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 between high and low, or 0%. For the last week the stock has had daily average volatility of 1.97%.

Our recommended stop-loss: $2.06 (-3.43%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 18 days ago.)

Trading Expectations (MPZZF) For The Upcoming Trading Day Of Wednesday 3rd

For the upcoming trading day on Wednesday, 3rd we expect MPC Container Ships ASA to open at $2.13, and during the day (based on 14 day Average True Range), to move between $2.07 and $2.19, which gives a possible trading interval of +/-$0.0645 (+/-3.03%) up or down from last closing price. If MPC Container Ships ASA takes out the full calculated possible swing range there will be an estimated 6.06% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $2.14 (0.47%) than the support at $2.00 (6.34%), 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.

Is MPC Container Ships ASA stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for MPC Container Ships ASA stock to perform well in the short-term.

Current score: 2.613 Buy Candidate Unchanged

Predicted Opening Price for MPC Container Ships ASA of Wednesday, July 3, 2024

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