Mullen Group Ltd. Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Mullen Group Ltd. stock downgraded to Hold/Accumulate
(Updated on Jun 25, 2024)
No changes to the price of Mullen Group Ltd. stock on the last trading day (Tuesday, 25th Jun 2024). During the last trading day the stock fluctuated 0.94% from a day low at $12.82 to a day high of $12.94. The price has fallen in 5 of the last 10 days and is down by -0.85% for this period.
The stock lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $13.15 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -14.58% during the next 3 months and, with a 90% probability hold a price between $9.58 and $11.23 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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MTL.TO Signals & Forecast
The Mullen Group Ltd. 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 $12.78 and $12.89. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, May 02, 2024, and so far it has risen 2.87%. Further rise is indicated until a new top pivot has been found. The volume rose on the last day while price remained unchanged. This may be an early warning and the stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Mullen Group Ltd. stock
Mullen Group Ltd. finds support from accumulated volume at $12.78 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 with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.120 between high and low, or 0.94%. For the last week the stock has had daily average volatility of 1.02%.
Our recommended stop-loss: $12.36 (-4.17%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 54 days ago.)
Trading Expectations (MTL.TO) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Mullen Group Ltd. to open at $12.89, and during the day (based on 14 day Average True Range), to move between $12.72 and $13.08, which gives a possible trading interval of +/-$0.178 (+/-1.38%) up or down from last closing price. If Mullen Group Ltd. takes out the full calculated possible swing range there will be an estimated 2.77% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $13.01 (0.85%) than the support at $12.78 (0.93%), 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 Mullen Group Ltd. stock A Buy?
Mullen Group Ltd. 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: 0.189 Hold/Accumulate Downgraded
Predicted Opening Price for Mullen Group Ltd. of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $12.89 ( 0.103%) | $12.90 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MTL.TO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 13.01 | 0.83% |
| R2 | 12.96 | 0.472% |
| R1 | 12.93 | 0.252% |
| Price | 12.90 | |
| S1 | 12.84 | -0.459% |
| S2 | 12.81 | -0.678% |
| S3 | 12.77 | -1.03% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 13.12 | 1.71% |
| R2 | 13.10 | 1.55% |
| R1 | 13.01 | 0.85% |
| Price | 12.90 | |
| S1 | 12.78 | -0.93% |
| S2 | 12.75 | -1.16% |
| S3 | 12.55 | -2.71% |
MTL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 28, 2024 | Jun 28, 2024 | Jul 15, 2024 | $0 | 0% |
| 2 | May 31, 2024 | May 31, 2024 | Jun 17, 2024 | $0.0600 | 0.471% |
| 3 | Apr 29, 2024 | Apr 29, 2024 | May 15, 2024 | $0.0600 | 0.464% |
| 4 | Mar 27, 2024 | Mar 27, 2024 | Apr 15, 2024 | $0.0600 | 0.411% |
| 5 | Feb 28, 2024 | Feb 28, 2024 | Mar 15, 2024 | $0.0600 | 0.418% |
FAQ
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