Masonite International Corporation Stock Forecast
Masonite International Corporation stock upgraded from Buy Candidate to Strong Buy Candidate after Thursday trading session.
(Updated on Apr 25, 2024)
The Masonite International Corporation stock price gained 0.114% on the last trading day (Thursday, 25th Apr 2024), rising from $131.60 to $131.75. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 0.381% from a day low at $131.25 to a day high of $131.75. The price has risen in 6 of the last 10 days and is up by 0.64% 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, 130 thousand more shares were traded than the day before. In total, 628 thousand shares were bought and sold for approximately $82.70 million.
The stock lies in the middle of a very wide and strong 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 24.22% during the next 3 months and, with a 90% probability hold a price between $148.00 and $195.83 at the end of this 3-month period.
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DOOR Signals & Forecast
Mostly positive signals in the chart today. The Masonite International Corporation 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 $131.43 and $131.10. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, February 05, 2024, and so far it has risen 44.16%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. The stock had a Golden Star Signal on Thursday, April 18, 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.
Golden Star
The stock had a Golden Star Signal on Thursday, April 18, 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 Masonite International Corporation stock
Masonite International Corporation finds support from accumulated volume at $130.51 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 $0.500 between high and low, or 0.381%. For the last week the stock has had daily average volatility of 0.423%.
Our recommended stop-loss: $123.24 (-6.46%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 56 days ago.)
Trading Expectations (DOOR) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Masonite International Corporation to open at $131.58, and during the day (based on 14 day Average True Range), to move between $131.12 and $132.38, which gives a possible trading interval of +/-$0.626 (+/-0.47%) up or down from last closing price. If Masonite International Corporation takes out the full calculated possible swing range there will be an estimated 0.95% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $130.51, some $1.24 (0.94%) from the current price of $131.75, our system finds the risk reward attractive.
Is Masonite International Corporation stock A Buy?
Masonite International Corporation holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.838 Strong Buy Candidate Upgraded
Predicted Opening Price for Masonite International Corporation of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $131.58 ( 0.127%) | $131.75 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DOOR
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 132.08 | 0.253 % | |
| R2 | 131.89 | 0.108 % | ||
| R1 | 131.77 | 0.0185 % | ||
| Current price: | 131.75 | |||
| Support | S1 | 131.39 | -0.271 % | |
| S2 | 131.27 | -0.361 % | ||
| S3 | 131.08 | -0.506 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 131.75 | |||
| Support | S1 | 130.51 | -0.94% | |
| S2 | 130.00 | -1.33% | ||
| S3 | 129.76 | -1.51% |
FAQ
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