MyState Limited Stock Forecast
MyState Limited stock price up 1.37% on Tuesday
(Updated on May 28, 2024)
The MyState Limited stock price gained 1.37% on the last trading day (Tuesday, 28th May 2024), rising from $3.64 to $3.69. During the last trading day the stock fluctuated 1.37% from a day low at $3.64 to a day high of $3.69. The price has risen in 7 of the last 10 days and is up by 4.24% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 23 thousand more shares were traded than the day before. In total, 93 thousand shares were bought and sold for approximately $342.41 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 6.51% during the next 3 months and, with a 90% probability hold a price between $3.64 and $4.10 at the end of this 3-month period.
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MYS.AX Signals & Forecast
The MyState Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $3.63 and $3.58. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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. A sell signal was issued from a pivot top point on Tuesday, April 02, 2024, and so far it has fallen -0.270%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for MyState Limited stock
MyState Limited finds support from accumulated volume at $3.65 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 $0.0500 between high and low, or 1.37%. For the last week the stock has had daily average volatility of 1.22%.
Our recommended stop-loss: $3.55 (-3.90%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 60 days ago.)
Trading Expectations (MYS.AX) For The Upcoming Trading Day Of Wednesday 29th
For the upcoming trading day on Wednesday, 29th we expect MyState Limited to open at $3.67, and during the day (based on 14 day Average True Range), to move between $3.63 and $3.75, which gives a possible trading interval of +/-$0.0617 (+/-1.67%) up or down from last closing price. If MyState Limited takes out the full calculated possible swing range there will be an estimated 3.34% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $3.70 (0.27%) than the support at $3.65 (1.08%), 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 MyState Limited 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 MyState Limited stock to perform well in the short-term.
Current score: 2.572 Buy Candidate Unchanged
Predicted Opening Price for MyState Limited of Wednesday, May 29, 2024
| Fair opening price May 29, 2024 | Current price |
|---|---|
| $3.67 ( 0.452%) | $3.69 |
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 | 3.72 | 0.90 % | |
| R2 | 3.70 | 0.386 % | ||
| R1 | 3.69 | 0.0659 % | ||
| Current price: | 3.69 | |||
| Support | S1 | 3.65 | -0.97 % | |
| S2 | 3.64 | -1.29 % | ||
| S3 | 3.62 | -1.81 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 3.70 | 0.271 % | ||
| Current price | 3.69 | |||
| Support | S1 | 3.65 | -1.08% | |
| S2 | 3.60 | -2.44% | ||
| S3 | 3.40 | -7.86% |
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% |
FAQ
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