MyState Limited Stock Forecast
MyState Limited stock downgraded from Hold/Accumulate to Sell Candidate after Friday trading session.
(Updated on May 10, 2024)
The MyState Limited stock price gained 0.86% on the last trading day (Friday, 10th May 2024), rising from $3.49 to $3.52. During the last trading day the stock fluctuated 1.72% from a day low at $3.49 to a day high of $3.55. The price has risen in 5 of the last 10 days but is still down by -0.56% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 76 thousand more shares were traded than the day before. In total, 148 thousand shares were bought and sold for approximately $521.82 thousand.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 8.19% during the next 3 months and, with a 90% probability hold a price between $3.69 and $4.14 at the end of this 3-month period.
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MYS.AX Signals & Forecast
MyState 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. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. The MyState 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 $3.53 and $3.59. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 02, 2024, and so far it has fallen -4.86%. 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 MyState Limited stock
MyState Limited finds support from accumulated volume at $3.41 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.0600 between high and low, or 1.72%. For the last week the stock has had daily average volatility of 1.75%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MYS.AX) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect MyState Limited to open at $3.52, and during the day (based on 14 day Average True Range), to move between $3.45 and $3.59, which gives a possible trading interval of +/-$0.0701 (+/-1.99%) up or down from last closing price. If MyState Limited takes out the full calculated possible swing range there will be an estimated 3.98% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $3.56 (1.14%) than the support at $3.41 (3.13%), 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.
Is MyState Limited stock A Buy?
The MyState Limited stock holds several negative signals and despite the positive trend, we believe MyState Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.133 Sell Candidate Downgraded
Predicted Opening Price for MyState Limited of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| $3.52 ( 0%) | $3.52 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MYS.AX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.58 | 1.70 % | |
| R2 | 3.56 | 1.05 % | ||
| R1 | 3.54 | 0.651 % | ||
| Current price: | 3.52 | |||
| Support | S1 | 3.50 | -0.651 % | |
| S2 | 3.48 | -1.05 % | ||
| S3 | 3.46 | -1.70 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.65 | 3.69 % | |
| R2 | 3.60 | 2.27 % | ||
| R1 | 3.56 | 1.14 % | ||
| Current price | 3.52 | |||
| Support | S1 | 3.41 | -3.13% | |
| S2 | 3.40 | -3.41% | ||
| S3 | 3.38 | -3.98% |
MYS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 28, 2024 | Feb 28, 2024 | Mar 22, 2024 | $0.115 | 3.21% |
| 2 | Feb 28, 2023 | Feb 28, 2023 | Feb 28, 2023 | $0.115 | 2.93% |
| 3 | Aug 18, 2022 | Aug 18, 2022 | Aug 18, 2022 | $0.115 | 2.51% |
| 4 | Feb 23, 2022 | Feb 23, 2022 | Feb 23, 2022 | $0.125 | 2.58% |
| 5 | Aug 25, 2021 | Aug 25, 2021 | Aug 25, 2021 | $0.130 | 2.53% |
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