Morguard REIT Stock Forecast
Morguard REIT stock price up 0.759% on Tuesday
(Updated on Apr 30, 2024)
The Morguard REIT stock price gained 0.759% on the last trading day (Tuesday, 30th Apr 2024), rising from $5.27 to $5.31. During the last trading day the stock fluctuated 0.189% from a day low at $5.30 to a day high of $5.31. The price has fallen in 5 of the last 10 days and is down by -0.19% for this period. Volume fell on the last day by -7 thousand shares and in total, 4 thousand shares were bought and sold for approximately $21.77 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 is moving within a narrow and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Morguard REIT stock with a 90% probability to be traded between $5.24 and $5.38 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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MRT-UN.TO Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, April 29, 2024, and so far it has risen 0.759%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Morguard REIT 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 $5.33 and $5.34. A break-up above any of these levels will issue buy signals. 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.
A buy signal from a double bottom formation was found on Monday, April 29, 2024 and based on theory for this formation the price should go up by 2.38% to $5.44 within 13 trading days since signal was issued (Wednesday, May 01, 2024).
Support, Risk & Stop-loss for Morguard REIT stock
Morguard REIT finds support from accumulated volume at $5.30 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 $0.0100 between high and low, or 0.189%. For the last week the stock has had daily average volatility of 0.494%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MRT-UN.TO) For The Upcoming Trading Day Of Wednesday 1st
For the upcoming trading day on Wednesday, 1st we expect Morguard REIT to open at $5.31, and during the day (based on 14 day Average True Range), to move between $5.26 and $5.36, which gives a possible trading interval of +/-$0.0473 (+/-0.89%) up or down from last closing price. If Morguard REIT takes out the full calculated possible swing range there will be an estimated 1.78% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $5.30 (0.19%) than the resistance at $5.34 (0.56%), 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 REIT stock A Buy?
Morguard REIT holds several negative signals and is within a narrow and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -1.171 Sell Candidate Unchanged
Predicted Opening Price for Morguard REIT of Wednesday, May 1, 2024
| Fair opening price May 1, 2024 | Current price |
|---|---|
| $5.31 ( 0.0628%) | $5.31 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MRT-UN.TO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.32 | 0.126 % | |
| R2 | 5.31 | 0.0536 % | ||
| R1 | 5.31 | 0.0092 % | ||
| Current price: | 5.31 | |||
| Support | S1 | 5.30 | -0.135 % | |
| S2 | 5.30 | -0.179 % | ||
| S3 | 5.30 | -0.251 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.37 | 1.13 % | |
| R2 | 5.36 | 0.94 % | ||
| R1 | 5.34 | 0.565 % | ||
| Current price | 5.31 | |||
| Support | S1 | 5.30 | -0.188% | |
| S2 | 5.29 | -0.377% | ||
| S3 | 5.28 | -0.565% |
MRT-UN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 29, 2024 | Apr 29, 2024 | May 15, 2024 | $0.0200 | 0.377% |
| 2 | Mar 27, 2024 | Mar 27, 2024 | Mar 27, 2024 | $0 | 0% |
| 3 | Feb 28, 2024 | Feb 28, 2024 | Mar 15, 2024 | $0 | 0% |
| 4 | Jan 30, 2024 | Jan 30, 2024 | Jan 30, 2024 | $0 | 0% |
| 5 | Dec 14, 2023 | Dec 14, 2023 | Dec 15, 2023 | $0 | 0% |
FAQ
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