Mexco Energy Corp Stock Forecast

Green day on Thursday for Mexco Energy Corp stock after gaining 2.12%
(Updated on Apr 18, 2024)

MXC Signals & Forecast

The Mexco Energy Corp stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $13.98. On a fall, the stock will find some support from the long-term average at approximately $11.34. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Monday, April 15, 2024, and so far it has fallen -20.57%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not. The stock had a Golden Star Signal on Friday, February 23, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Mexco Energy Corp stock

Mexco Energy Corp finds support from accumulated volume at $12.74 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $1.19 between high and low, or 9.92%. For the last week the stock has had daily average volatility of 15.03%.

Our recommended stop-loss: $12.33 (-5.24%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 3 days ago.)

Trading Expectations (MXC) For The Upcoming Trading Day Of Friday 19th

For the upcoming trading day on Friday, 19th we expect Mexco Energy Corp to open at $12.73, and during the day (based on 14 day Average True Range), to move between $11.96 and $14.06, which gives a possible trading interval of +/-$1.05 (+/-8.05%) up or down from last closing price. If Mexco Energy Corp takes out the full calculated possible swing range there will be an estimated 16.10% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $13.03 (0.15%) than the support at $12.74 (2.08%), 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 Mexco Energy Corp 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 Mexco Energy Corp stock to perform well in the short-term.

Current score: 1.113 Buy Candidate Unchanged

Predicted Opening Price for Mexco Energy Corp of Friday, April 19, 2024

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