MARTINREA International Inc. Stock Forecast
MARTINREA International Inc. stock price ended at $12.50 on Friday, after gaining 1.21%.
(Updated on May 17, 2024)
The MARTINREA International Inc. stock price gained 1.21% on the last trading day (Friday, 17th May 2024), rising from $12.35 to $12.50. During the last trading day the stock fluctuated 1.78% from a day low at $12.36 to a day high of $12.58. The price has risen in 7 of the last 10 days and is up by 4.69% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 152 thousand more shares were traded than the day before. In total, 152 thousand shares were bought and sold for approximately $1.90 million.
The stock lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $12.81 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -10.54% during the next 3 months and, with a 90% probability hold a price between $9.24 and $11.46 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.
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MRE.TO Signals & Forecast
The MARTINREA International Inc. 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 $12.23 and $11.58. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 15.53%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for MARTINREA International Inc. stock
MARTINREA International Inc. finds support from accumulated volume at $12.20 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.220 between high and low, or 1.78%. For the last week, the stock has had daily average volatility of 1.43%.
The MARTINREA International Inc. stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: $11.82 (-5.48%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 76 and this increases the risk substantially. There is a buy signal from a pivot bottom found 20 days ago.)
Trading Expectations (MRE.TO) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect MARTINREA International Inc. to open at $12.48, and during the day (based on 14 day Average True Range), to move between $12.21 and $12.79, which gives a possible trading interval of +/-$0.286 (+/-2.29%) up or down from last closing price. If MARTINREA International Inc. takes out the full calculated possible swing range there will be an estimated 4.58% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $12.20 (2.40%) than the resistance at $13.90 (11.20%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is MARTINREA International Inc. stock A Buy?
MARTINREA International Inc. 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.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for MARTINREA International Inc. of Tuesday, May 21, 2024
Fair opening price May 21, 2024 | Current price |
---|---|
$12.48 ( 0.160%) | $12.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MRE.TO
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 12.70 | 1.60 % | |
R2 | 12.62 | 0.93 % | ||
R1 | 12.56 | 0.512 % | ||
Current price: | 12.50 | |||
Support | S1 | 12.40 | -0.83 % | |
S2 | 12.34 | -1.25 % | ||
S3 | 12.26 | -1.92 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 14.01 | 12.08 % | |
R2 | 13.96 | 11.68 % | ||
R1 | 13.90 | 11.20 % | ||
Current price | 12.50 | |||
Support | S1 | 12.20 | -2.40% | |
S2 | 11.68 | -6.56% | ||
S3 | 11.51 | -7.92% |
MRE Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jun 30, 2024 | Jun 30, 2024 | Jul 15, 2024 | $0.0500 | 0.400% |
2 | Feb 29, 2024 | Mar 27, 2024 | Apr 15, 2024 | $0.0500 | 0.453% |
3 | Nov 08, 2023 | Jan 12, 2024 | Jan 15, 2024 | $0.0500 | 0.374% |
4 | Dec 28, 2023 | Dec 28, 2023 | Jan 15, 2024 | $0 | 0% |
5 | Aug 09, 2023 | Sep 28, 2023 | Oct 15, 2023 | $0.0500 | 0.416% |
FAQ
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