Mesabi Trust Stock Forecast
Mesabi Trust stock price ended at $17.54 on Tuesday, after gaining 0.573%.
(Updated on Jul 02, 2024)
The Mesabi Trust stock price gained 0.573% on the last trading day (Tuesday, 2nd Jul 2024), rising from $17.44 to $17.54. During the last trading day the stock fluctuated 2.32% from a day low at $17.22 to a day high of $17.62. The price has been going up and down for this period, and there has been a 1.45% gain for the last 2 weeks. Volume fell on the last day by -2 thousand shares and in total, 12 thousand shares were bought and sold for approximately $213.16 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 wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Mesabi Trust stock with a 90% probability to be traded between $16.19 and $18.62 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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MSB Signals & Forecast
The Mesabi Trust stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $17.40 and $17.42. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, June 13, 2024, and so far it has risen 4.09%. 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. 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 also not.
Support, Risk & Stop-loss for Mesabi Trust stock
Mesabi Trust finds support from accumulated volume at $17.24 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 controlled movements and therefore the general risk is considered 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 $0.400 between high and low, or 2.32%. For the last week the stock has had daily average volatility of 2.59%.
Our recommended stop-loss: $16.59 (-5.40%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 20 days ago.)
Trading Expectations (MSB) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Mesabi Trust to open at $17.46, and during the day (based on 14 day Average True Range), to move between $17.04 and $18.04, which gives a possible trading interval of +/-$0.498 (+/-2.84%) up or down from last closing price. If Mesabi Trust takes out the full calculated possible swing range there will be an estimated 5.68% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $17.60 (0.34%) than the support at $17.24 (1.71%), 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 Mesabi Trust stock A Buy?
Mesabi Trust 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: 0.225 Hold/Accumulate Unchanged
Predicted Opening Price for Mesabi Trust of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $17.46 ( 0.456%) | $17.54 |
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 | |
|---|---|---|
| R3 | 17.86 | 1.82% |
| R2 | 17.71 | 0.95% |
| R1 | 17.61 | 0.415% |
| Price | 17.54 | |
| S1 | 17.31 | -1.33% |
| S2 | 17.21 | -1.87% |
| S3 | 17.06 | -2.74% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 17.79 | 1.43% |
| R2 | 17.63 | 0.513% |
| R1 | 17.60 | 0.342% |
| Price | 17.54 | |
| S1 | 17.24 | -1.71% |
| S2 | 16.85 | -3.93% |
| S3 | 16.08 | -8.32% |
MSB Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 16, 2024 | Apr 29, 2024 | May 20, 2024 | $0.290 | 1.62% |
| 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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