M B T Financial Corp Forecast and Stock Analysis
Technical MBTF stock analysis for February 15, 2019.
M B T Financial Corp gained 3.26% in the last trading day, rising from $10.72 to $11.07 The price has risen in 8 of the last 10 days and is up by 10.04% over the past 2 weeks. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 9 749 more shares were traded than the day before. In total, 36 727 shares bought and sold for approximately $406 568.00.
Close price at the end of the last trading day (Friday, 15th Feb 2019) of the MBTF stock was $11.07. This is 3.26% more than the trading day before Thursday, 14th Feb 2019.
During day the stock fluctuated 3.36% from a day low at $10.72 to a day high of $11.08.
30 day high of the MBTF stock price was $11.08 and low was $9.82.
90 day high was $11.49 and low was $8.75.
52 week high for the M B T Financial Corp - $12.49 and low - $8.75.
M B T Financial Corp has broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction there will be support on the roof on the current trend broken, which is $11.06, a level that may pose a second chance to hit a runner. According to fan-theory $13.71 will be the next possible trendtop level and thereby pose a resistance level which may not be broken on the first attempt.
Only positive signals in the chart today. M B T Financial Corp holds buy signals from both short- and long-term moving averages. In addition, 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 $10.66 and $10.15. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday January 31, 2019, which indicates further gains until a new top pivot has been found. M B T Financial Corp has rising 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.
Relative Strength Index (RSI)
RSI14 is 70 and the stock is currently not being overbought or oversold
Support & Resistance
On the downside, the stock finds support just below today's level from accumulated volume at $9.32 and $9.26.
There is natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, M B T Financial Corp finds support just below today's level at $9.32. If this is broken, then the next support from accumulated volume will be at $9.26 and $9.10.
This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved $0.36 (3.36%) between high and low. For the last week, the stock has had a daily average volatility of 2.11%.
Our recommended stoploss: $10.63 (-3.93%) (This stock has low daily movements and this gives low risk. There is a buy signal from pivot bottom found 11 days ago.)
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Evaluation: Buy Candidate
Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period. We have upgraded our recommendation for this stock since last evaluation from a Hold/Accumulate to a Buy Candidate.