Mesabi Trust Stock Forecast
Mesabi Trust stock price ended at $17.42 on Tuesday, after losing 1.30%.
(Updated on Apr 23, 2024)
The Mesabi Trust stock price fell by -1.30% on the last day (Tuesday, 23rd Apr 2024) from $17.65 to $17.42. During the last trading day the stock fluctuated 3.60% from a day low at $17.21 to a day high of $17.83. The price has fallen in 7 of the last 10 days and is down by -1.19% for this period. Volume has increased on the last day by 5 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 31 thousand shares were bought and sold for approximately $536.92 thousand.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -11.18% during the next 3 months and, with a 90% probability hold a price between $14.08 and $16.50 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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MSB Signals & Forecast
There are mixed signals in the stock today. The Mesabi Trust stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $17.85. On a fall, the stock will find some support from the short-term average at $17.36. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Mesabi Trust gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 2.17%. Further rise is indicated until a new top pivot has been found.
A buy signal from a double bottom formation was found on Monday, April 15, 2024 and based on theory for this formation the price should go up by 19.99% to $20.90 within 28 trading days since signal was issued (Wednesday, April 24, 2024).
Support, Risk & Stop-loss for Mesabi Trust stock
Mesabi Trust finds support from accumulated volume at $17.41 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.620 (3.60%) between high and low. For the last week, the stock has had daily average volatility of 3.20%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MSB) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Mesabi Trust to open at $17.49, and during the day (based on 14 day Average True Range), to move between $16.83 and $18.01, which gives a possible trading interval of +/-$0.586 (+/-3.36%) up or down from last closing price. If Mesabi Trust takes out the full calculated possible swing range there will be an estimated 6.73% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $17.41 (0.06%) than the resistance at $17.72 (1.72%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Mesabi Trust stock A Buy?
Mesabi Trust holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -2.773 Sell Candidate Unchanged
Predicted Opening Price for Mesabi Trust of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $17.49 ( 0.383%) | $17.42 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MSB
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 18.11 | 3.94 % | |
| R2 | 17.87 | 2.58 % | ||
| R1 | 17.72 | 1.74 % | ||
| Current price: | 17.42 | |||
| Support | S1 | 17.25 | -0.98 % | |
| S2 | 17.10 | -1.82 % | ||
| S3 | 16.87 | -3.18 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 18.78 | 7.81 % | |
| R2 | 17.79 | 2.12 % | ||
| R1 | 17.72 | 1.72 % | ||
| Current price | 17.42 | |||
| Support | S1 | 17.41 | -0.0574% | |
| S2 | 17.20 | -1.26% | ||
| S3 | 17.13 | -1.66% |
MSB Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 16, 2024 | Apr 29, 2024 | May 20, 2024 | $0.290 | 1.67% |
| 2 | Jan 12, 2024 | Jan 29, 2024 | Feb 20, 2024 | $0.370 | 1.97% |
| 3 | Oct 13, 2023 | Oct 27, 2023 | Nov 20, 2023 | $0.350 | 1.84% |
| 4 | Jul 15, 2022 | Jul 28, 2022 | Aug 20, 2022 | $0.84 | 3.04% |
| 5 | Apr 15, 2022 | Apr 28, 2022 | May 20, 2022 | $1.04 | 4.04% |
FAQ
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