Mitchell Services Limited Stock Forecast

Mitchell Services Limited stock price ended at $0.400 on Friday, after gaining 1.27%.
(Updated on May 17, 2024)

MSV.AX Signals & Forecast

There are few to no technical positive signals at the moment. The Mitchell Services Limited 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 $0.405 and $0.406. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, April 18, 2024, and so far it has fallen -16.67%. 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). 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. The stock had a Golden Star Signal on Friday, March 15, 2024 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Mitchell Services Limited stock

Mitchell Services Limited finds support from accumulated volume at $0.390 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0050 between high and low, or 1.27%. For the last week the stock has had daily average volatility of 3.53%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (MSV.AX) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Mitchell Services Limited to open at $0.398, and during the day (based on 14 day Average True Range), to move between $0.383 and $0.417, which gives a possible trading interval of +/-$0.0172 (+/-4.29%) up or down from last closing price. If Mitchell Services Limited takes out the full calculated possible swing range there will be an estimated 8.59% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.405 (1.25%) than the support at $0.390 (2.50%), 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 Mitchell Services Limited stock A Buy?

The Mitchell Services Limited stock holds several negative signals and despite the positive trend, we believe Mitchell Services Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Current score: -4.002 Sell Candidate Unchanged

Predicted Opening Price for Mitchell Services Limited of Monday, May 20, 2024

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