Mesa Royalty Trust Stock Forecast

Red day on Tuesday for Mesa Royalty Trust stock after losing 2.70%
(Updated on Apr 23, 2024)

MTR Signals & Forecast

There are few to no technical positive signals at the moment. The Mesa Royalty Trust stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $11.08 and $10.61. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 17, 2024, and so far it has fallen -13.29%. 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). Mesa Royalty 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".

Support, Risk & Stop-loss for Mesa Royalty Trust stock

On the downside, the stock finds support just below today's level from accumulated volume at $9.51 and $9.35. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Mesa Royalty Trust finds support just below today's level at $9.51. If this is broken, then the next support from accumulated volume will be at $9.35 and $9.30.

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 $0.530 between high and low, or 5.27%. For the last week, the stock has had daily average volatility of 5.85%.

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

Trading Expectations (MTR) For The Upcoming Trading Day Of Wednesday 24th

For the upcoming trading day on Wednesday, 24th we expect Mesa Royalty Trust to open at $10.24, and during the day (based on 14 day Average True Range), to move between $9.55 and $10.61, which gives a possible trading interval of +/-$0.532 (+/-5.27%) up or down from last closing price. If Mesa Royalty Trust takes out the full calculated possible swing range there will be an estimated 10.55% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $10.34 (2.58%) than the support at $9.51 (5.65%), 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 Mesa Royalty Trust stock A Buy?

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

Current score: -2.769 Sell Candidate Unchanged

Predicted Opening Price for Mesa Royalty Trust of Wednesday, April 24, 2024

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