Murphy Oil Corporation 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
Red day on Friday for Murphy Oil Corporation stock after losing 0.204%
(Updated on May 03, 2024)
The Murphy Oil Corporation stock price fell by -0.204% on the last day (Friday, 3rd May 2024) from $44.22 to $44.13. During the last trading day the stock fluctuated 1.67% from a day low at $43.78 to a day high of $44.51. The price has risen in 7 of the last 10 days but is still down by -4.04% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -210 thousand shares and in total, 2 million shares were bought and sold for approximately $72.27 million.
Given the current short-term trend, the stock is expected to rise 24.50% during the next 3 months and, with a 90% probability hold a price between $54.94 and $65.10 at the end of this 3-month period.
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MUR Signals & Forecast
There are few to no technical positive signals at the moment. The Murphy Oil Corporation 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 $45.27 and $45.96. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, April 05, 2024, and so far it has fallen -9.88%. 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 together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
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 $41.12 and $40.80. 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 $41.12. If this is broken, then the next support from accumulated volume will be at $40.80 and $38.79.
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 $0.730 between high and low, or 1.67%. For the last week, the stock has had daily average volatility of 2.63%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MUR) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Murphy Oil Corporation to open at $44.14, and during the day (based on 14 day Average True Range), to move between $43.06 and $45.20, which gives a possible trading interval of +/-$1.07 (+/-2.42%) up or down from last closing price. If Murphy Oil Corporation takes out the full calculated possible swing range there will be an estimated 4.85% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $44.74 (1.38%) than the support at $41.12 (6.82%), 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 Murphy Oil Corporation stock A Buy?
The Murphy Oil Corporation stock holds several negative signals and despite the positive trend, we believe Murphy Oil Corporation will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.128 Sell Candidate Unchanged
Predicted Opening Price for Murphy Oil Corporation of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $44.14 ( 0.0227%) | $44.13 |
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 | 44.87 | 1.68 % | |
| R2 | 44.59 | 1.04 % | ||
| R1 | 44.42 | 0.655 % | ||
| Current price: | 44.13 | |||
| Support | S1 | 43.86 | -0.609 % | |
| S2 | 43.69 | -1.00 % | ||
| S3 | 43.41 | -1.63 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 46.43 | 5.21 % | |
| R2 | 45.28 | 2.61 % | ||
| R1 | 44.74 | 1.38 % | ||
| Current price | 44.13 | |||
| Support | S1 | 41.12 | -6.82% | |
| S2 | 40.80 | -7.55% | ||
| S3 | 38.79 | -12.10% |
MUR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 17, 2024 | May 17, 2024 | Jun 03, 2024 | $0.300 | 0.680% |
| 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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