Middlesex Water Company Stock Forecast

Middlesex Water Company stock downgraded to Hold/Accumulate
(Updated on May 03, 2024)

MSEX Signals & Forecast

The Middlesex Water Company 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 $50.95 and $49.68. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 15.90%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.

Support, Risk & Stop-loss for Middlesex Water Company stock

Middlesex Water Company finds support from accumulated volume at $52.57 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 $0.99 between high and low, or 1.90%. For the last week, the stock has had daily average volatility of 3.54%.

The Middlesex Water Company 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. Since the Middlesex Water Company has been rising for 6 days in a row, the risk over the next couple of days has increased. As we cannot be certain with regards to the size of the reaction, we urge caution.

Our recommended stop-loss: $51.59 (-2.90%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 80 and this increases the risk substantially. There is a buy signal from a pivot bottom found 13 days ago.)

Trading Expectations (MSEX) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect Middlesex Water Company to open at $52.81, and during the day (based on 14 day Average True Range), to move between $51.61 and $54.65, which gives a possible trading interval of +/-$1.52 (+/-2.85%) up or down from last closing price. If Middlesex Water Company takes out the full calculated possible swing range there will be an estimated 5.70% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $52.57 (1.05%) than the resistance at $54.29 (2.18%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Middlesex Water Company stock A Buy?

Middlesex Water Company 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: 0.882 Hold/Accumulate Downgraded

Predicted Opening Price for Middlesex Water Company of Monday, May 6, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.