Mexico Equity and Income Fund Inc (The) Stock Forecast
Mexico Equity and Income Fund Inc (The) stock upgraded from Sell Candidate to Hold/Accumulate after Monday trading session.
(Updated on Apr 22, 2024)
The Mexico Equity and Income Fund Inc (The) stock price gained 0.798% on the last trading day (Monday, 22nd Apr 2024), rising from $10.67 to $10.76. During the last trading day the stock fluctuated 0.561% from a day low at $10.70 to a day high of $10.76. The price has fallen in 7 of the last 10 days and is down by -6.88% for this period. Volume fell on the last day by -3 thousand shares and in total, 2 thousand shares were bought and sold for approximately $16.30 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock is at the lower part of a horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $10.67 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Mexico Equity and Income Fund Inc (The) stock with a 90% probability to be traded between $10.82 and $11.79 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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MXE Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 0.798%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Mexico Equity and Income Fund Inc (The) 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 $10.86 and $11.24. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Mexico Equity and Income Fund Inc (The) stock
Mexico Equity and Income Fund Inc (The) finds support from accumulated volume at $10.74 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0600 between high and low, or 0.561%. For the last week the stock has had daily average volatility of 1.17%.
Mexico Equity and Income Fund Inc (The) is oversold on RSI14 (16). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: $10.12 (-5.88%) (This stock has medium daily movements and this gives medium risk. Low RSI14 is 16 which reduces the risk some. There is a buy signal from a pivot bottom found 1 day ago.)
Trading Expectations (MXE) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect Mexico Equity and Income Fund Inc (The) to open at $10.74, and during the day (based on 14 day Average True Range), to move between $10.61 and $10.90, which gives a possible trading interval of +/-$0.143 (+/-1.33%) up or down from last closing price. If Mexico Equity and Income Fund Inc (The) takes out the full calculated possible swing range there will be an estimated 2.66% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $10.74 (0.14%) than the resistance at $11.07 (2.93%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Mexico Equity and Income Fund Inc (The) stock A Buy?
Mexico Equity and Income Fund Inc (The) holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.894 Hold/Accumulate Upgraded
Predicted Opening Price for Mexico Equity and Income Fund Inc (The) of Tuesday, April 23, 2024
Fair opening price April 23, 2024 | Current price |
---|---|
$10.74 ( 0.186%) | $10.76 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MXE
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 10.80 | 0.372 % | |
R2 | 10.77 | 0.159 % | ||
R1 | 10.76 | 0.0272 % | ||
Current price: | 10.76 | |||
Support | S1 | 10.71 | -0.399 % | |
S2 | 10.70 | -0.531 % | ||
S3 | 10.68 | -0.744 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 11.56 | 7.48 % | |
R2 | 11.15 | 3.69 % | ||
R1 | 11.07 | 2.93 % | ||
Current price | 10.76 | |||
Support | S1 | 10.74 | -0.143% | |
S2 | 10.72 | -0.325% | ||
S3 | 10.67 | -0.791% |
MXE Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Dec 18, 2023 | Dec 27, 2023 | Jan 05, 2024 | $0.301 | 2.73% |
2 | Dec 10, 2019 | Dec 18, 2019 | Dec 28, 2018 | $0.120 | 1.20% |
3 | Dec 10, 2018 | Dec 18, 2018 | Dec 28, 2018 | $0.0010 | 0.0100% |
4 | Dec 11, 2017 | Dec 18, 2017 | Dec 28, 2017 | $0.0480 | 0.475% |
5 | Dec 28, 2015 | Dec 28, 2015 | Dec 28, 2015 | $0.560 | 5.20% |
FAQ
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