MMA Offshore Limited Stock Forecast
Green day on Friday for MMA Offshore Limited
(Updated on Apr 26, 2024)
The MMA Offshore Limited stock price gained 0.376% on the last trading day (Friday, 26th Apr 2024), rising from $2.66 to $2.67. During the last trading day the stock fluctuated 0.755% from a day low at $2.65 to a day high of $2.67. The price has been going up and down for this period, and there has been a 1.91% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 72 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $3.77 million.
The stock lies in the middle of a strong 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 45.79% during the next 3 months and, with a 90% probability hold a price between $3.74 and $4.00 at the end of this 3-month period.
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MRM.AX Signals & Forecast
The MMA Offshore Limited 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 $2.65 and $2.50. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, April 19, 2024, and so far it has fallen -0.743%. 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).
Support, Risk & Stop-loss for MMA Offshore Limited stock
MMA Offshore Limited finds support from accumulated volume at $2.63 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 with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.0200 between high and low, or 0.755%. For the last week the stock has had daily average volatility of 1.18%.
Our recommended stop-loss: $2.56 (-3.98%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 4 days ago.)
Trading Expectations (MRM.AX) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect MMA Offshore Limited to open at $2.66, and during the day (based on 14 day Average True Range), to move between $2.62 and $2.72, which gives a possible trading interval of +/-$0.0462 (+/-1.73%) up or down from last closing price. If MMA Offshore Limited takes out the full calculated possible swing range there will be an estimated 3.46% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $2.69 (0.75%) than the support at $2.63 (1.50%), 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 MMA Offshore Limited 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 MMA Offshore Limited stock to perform well in the short-term.
Current score: 2.248 Buy Candidate Unchanged
Predicted Opening Price for MMA Offshore Limited of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $2.66 ( 0.250%) | $2.67 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MRM.AX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.68 | 0.499 % | |
| R2 | 2.68 | 0.213 % | ||
| R1 | 2.67 | 0.0365 % | ||
| Current price: | 2.67 | |||
| Support | S1 | 2.66 | -0.536 % | |
| S2 | 2.65 | -0.713 % | ||
| S3 | 2.64 | -1.00 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 2.69 | 0.749 % | ||
| Current price | 2.67 | |||
| Support | S1 | 2.63 | -1.50% | |
| S2 | 2.60 | -2.62% | ||
| S3 | 2.25 | -15.73% |
MRM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 20, 2015 | Sep 04, 2015 | Sep 29, 2015 | $0.0888 | 2.91% |
| 2 | Feb 23, 2015 | Mar 11, 2015 | Apr 02, 2015 | $0.237 | 5.84% |
| 3 | Aug 22, 2014 | Sep 03, 2014 | Sep 26, 2014 | $0.415 | 3.51% |
| 4 | Feb 25, 2014 | Mar 04, 2014 | Apr 01, 2014 | $0.326 | 2.39% |
| 5 | Aug 22, 2013 | Sep 02, 2013 | Sep 27, 2013 | $0.398 | 1.88% |
FAQ
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