Murphy Oil Corporation Stock Forecast
Murphy Oil Corporation stock price ended at $46.43 on Thursday, after gaining 0.454%.
(Updated on Apr 25, 2024)
The Murphy Oil Corporation stock price gained 0.454% on the last trading day (Thursday, 25th Apr 2024), rising from $46.22 to $46.43. It has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.25% from a day low at $45.60 to a day high of $46.62. The price has been going up and down for this period, and there has been a -2.66% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 233 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $52.18 million.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $45.57 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 28.30% during the next 3 months and, with a 90% probability hold a price between $58.47 and $66.12 at the end of this 3-month period.
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MUR Signals & Forecast
The Murphy Oil Corporation 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 $45.90 and $45.46. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, April 05, 2024, and so far it has fallen -5.19%. 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).
Support, Risk & Stop-loss for Murphy Oil Corporation stock
On the downside, the stock finds support just below today's level from accumulated volume at $40.80 and $39.84. 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, Murphy Oil Corporation finds support just below today's level at $40.80. If this is broken, then the next support from accumulated volume will be at $39.84 and $38.56.
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 $1.03 between high and low, or 2.25%. For the last week, the stock has had daily average volatility of 2.33%.
Our recommended stop-loss: $44.06 (-5.10%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 14 days ago.)
Trading Expectations (MUR) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Murphy Oil Corporation to open at $46.22, and during the day (based on 14 day Average True Range), to move between $45.40 and $47.46, which gives a possible trading interval of +/-$1.03 (+/-2.22%) up or down from last closing price. If Murphy Oil Corporation takes out the full calculated possible swing range there will be an estimated 4.43% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $47.70 (2.74%) than the support at $40.80 (12.13%), 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.
Earnings coming up
Murphy Oil Corporation will release earnings BMO on Thursday, May 02, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.87. We will update the financials statements for Murphy Oil Corporation, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 6.94% in the first trading day after earnings release.
Is Murphy Oil Corporation stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Murphy Oil Corporation stock to perform well in the short-term.
Current score: 3.397 Buy Candidate Unchanged
Predicted Opening Price for Murphy Oil Corporation of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $46.22 ( 0.463%) | $46.43 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MUR
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 47.24 | 1.74 % | |
| R2 | 46.85 | 0.90 % | ||
| R1 | 46.61 | 0.380 % | ||
| Current price: | 46.43 | |||
| Support | S1 | 45.82 | -1.31 % | |
| S2 | 45.58 | -1.83 % | ||
| S3 | 45.19 | -2.67 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 48.37 | 4.18 % | |
| R2 | 48.11 | 3.62 % | ||
| R1 | 47.70 | 2.74 % | ||
| Current price | 46.43 | |||
| Support | S1 | 40.80 | -12.13% | |
| S2 | 39.84 | -14.19% | ||
| S3 | 38.56 | -16.95% |
MUR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 17, 2024 | May 17, 2024 | Jun 03, 2024 | $0.300 | 0.646% |
| 2 | Jan 25, 2024 | Feb 16, 2024 | Mar 04, 2024 | $0.300 | 0.773% |
| 3 | Oct 04, 2023 | Nov 10, 2023 | Dec 01, 2023 | $0.275 | 0.636% |
| 4 | Aug 02, 2023 | Aug 11, 2023 | Sep 01, 2023 | $0.275 | 0.592% |
| 5 | Apr 05, 2023 | May 12, 2023 | Jun 01, 2023 | $0.275 | 0.769% |
FAQ
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