Mesa Royalty Trust Stock Forecast

Mesa Royalty Trust stock price ended at $8.55 on Friday, after losing 3.82%.
(Updated on May 03, 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. 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 $9.06 and $10.40. 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 -26.45%. 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

There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.562 between high and low, or 6.71%. For the last week, the stock has had daily average volatility of 4.73%.

Mesa Royalty Trust is oversold on RSI14 (10). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.

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 Monday 6th

For the upcoming trading day on Monday, 6th we expect Mesa Royalty Trust to open at $8.62, and during the day (based on 14 day Average True Range), to move between $8.05 and $9.05, which gives a possible trading interval of +/-$0.504 (+/-5.89%) up or down from last closing price. If Mesa Royalty Trust takes out the full calculated possible swing range there will be an estimated 11.79% move between the lowest and the highest trading price during the day.

With no support below and resistance from accumulated volume @ $9.51, some $0.96 (11.23%) from the current price of $8.55, our system finds the risk reward not very attractive.

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: -3.688 Sell Candidate Unchanged

Predicted Opening Price for Mesa Royalty Trust of Monday, May 6, 2024

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