Mastermyne Group Limited Stock Forecast
Mastermyne Group Limited stock upgraded to Sell Candidate.
(Updated on Jun 14, 2024)
The Mastermyne Group Limited stock price gained 2.27% on the last trading day (Friday, 14th Jun 2024), rising from $0.220 to $0.225. During the last trading day the stock fluctuated 2.27% from a day low at $0.220 to a day high of $0.225. The price has fallen in 5 of the last 10 days and is down by -6.25% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 138 thousand more shares were traded than the day before. In total, 162 thousand shares were bought and sold for approximately $36.54 thousand.
The stock lies in the lower part of a very 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 $0.221 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 16.36% during the next 3 months and, with a 90% probability hold a price between $0.257 and $0.357 at the end of this 3-month period.
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MYE.AX Signals & Forecast
Mastermyne Group Limited has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Mastermyne Group Limited 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 $0.234 and $0.247. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, May 01, 2024, and so far it has fallen -21.05%. 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 Mastermyne Group Limited stock
Mastermyne Group Limited finds support from accumulated volume at $0.220 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.0050 between high and low, or 2.27%. For the last week, the stock has had daily average volatility of 3.64%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MYE.AX) For The Upcoming Trading Day Of Monday 17th
For the upcoming trading day on Monday, 17th we expect Mastermyne Group Limited to open at $0.223, and during the day (based on 14 day Average True Range), to move between $0.212 and $0.238, which gives a possible trading interval of +/-$0.0132 (+/-5.86%) up or down from last closing price. If Mastermyne Group Limited takes out the full calculated possible swing range there will be an estimated 11.71% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.220 (2.22%) than the resistance at $0.245 (8.89%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Mastermyne Group Limited stock A Buy?
The Mastermyne Group Limited stock holds several negative signals and despite the positive trend, we believe Mastermyne Group Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -2.815 Sell Candidate Upgraded
Predicted Opening Price for Mastermyne Group Limited of Monday, June 17, 2024
| Fair opening price June 17, 2024 | Current price |
|---|---|
| $0.223 ( 0.741%) | $0.225 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MYE.AX
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.228 | 1.48% |
| R2 | 0.226 | 0.633% |
| R1 | 0.225 | 0.108% |
| Price | 0.225 | |
| S1 | 0.221 | -1.59% |
| S2 | 0.220 | -2.11% |
| S3 | 0.218 | -2.96% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.270 | 20.00% |
| R2 | 0.250 | 11.11% |
| R1 | 0.245 | 8.89% |
| Price | 0.225 | |
| S1 | 0.220 | -2.22% |
| S2 | 0.215 | -4.44% |
| S3 | 0.210 | -6.67% |
MYE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 23, 2021 | Sep 23, 2021 | Sep 23, 2021 | $0.0225 | 2.38% |
| 2 | Mar 25, 2021 | Mar 25, 2021 | Mar 25, 2021 | $0.0075 | 1.29% |
| 3 | Sep 24, 2020 | Sep 24, 2020 | Sep 24, 2020 | $0.0400 | 4.60% |
| 4 | Feb 18, 2020 | Mar 26, 2020 | Apr 16, 2020 | $0.0200 | 3.03% |
| 5 | Aug 21, 2019 | Sep 26, 2019 | Oct 17, 2019 | $0.0200 | 1.86% |
FAQ
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