Morguard Corporation Stock Forecast

Morguard Corporation stock downgraded to Hold/Accumulate
(Updated on Apr 30, 2024)

MRC.TO Signals & Forecast

There are mixed signals in the stock today. The Morguard Corporation 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 $110.68 and $114.32. A break-up above any of these levels will issue buy signals. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued. A buy signal was issued from a pivot bottom point on Tuesday, April 23, 2024, and so far it has risen 0.227%. 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). The stock had a Golden Star Signal on Monday, November 13, 2023 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Morguard Corporation stock

Morguard Corporation finds support from accumulated volume at $110.30 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock 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 0.584%

Our recommended stop-loss: $103.69 (-6.13%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 5 days ago.)

Trading Expectations (MRC.TO) For The Upcoming Trading Day Of Wednesday 1st

For the upcoming trading day on Wednesday, 1st we expect Morguard Corporation to open at $110.46, and during the day (based on 14 day Average True Range), to move between $108.76 and $112.16, which gives a possible trading interval of +/-$1.70 (+/-1.54%) up or down from last closing price. If Morguard Corporation takes out the full calculated possible swing range there will be an estimated 3.07% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $110.30 (0.14%) than the resistance at $112.24 (1.61%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Morguard Corporation stock A Buy?

Morguard 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: 0.279 Hold/Accumulate Downgraded

Predicted Opening Price for Morguard Corporation of Wednesday, May 1, 2024

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