MasterCraft Boat Holdings, Inc. Stock Forecast
MasterCraft Boat Holdings, Inc. stock upgraded from Sell Candidate to Hold/Accumulate after Tuesday trading session.
(Updated on Apr 23, 2024)
The MasterCraft Boat Holdings, Inc. stock price fell by -2.09% on the last day (Tuesday, 23rd Apr 2024) from $21.50 to $21.05. During the last trading day the stock fluctuated 4.61% from a day low at $21.04 to a day high of $22.01. The price has fallen in 6 of the last 10 days and is down by -7.72% for this period. Volume has increased on the last day by 22 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 127 thousand shares were bought and sold for approximately $2.68 million.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $20.93 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 6.38% during the next 3 months and, with a 90% probability hold a price between $22.27 and $25.92 at the end of this 3-month period.
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MCFT Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 1.01%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The MasterCraft Boat Holdings, Inc. 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 $21.13 and $21.96. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for MasterCraft Boat Holdings, Inc. stock
MasterCraft Boat Holdings, Inc. finds support from accumulated volume at $21.02 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 $0.97 between high and low, or 4.61%. For the last week, the stock has had daily average volatility of 3.41%.
Our recommended stop-loss: $19.98 (-5.08%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 4 days ago.)
Trading Expectations (MCFT) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect MasterCraft Boat Holdings, Inc. to open at $21.37, and during the day (based on 14 day Average True Range), to move between $20.33 and $21.77, which gives a possible trading interval of +/-$0.715 (+/-3.40%) up or down from last closing price. If MasterCraft Boat Holdings, Inc. takes out the full calculated possible swing range there will be an estimated 6.80% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $21.02 (0.14%) than the resistance at $21.73 (3.23%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is MasterCraft Boat Holdings, Inc. stock A Buy?
MasterCraft Boat Holdings, Inc. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.668 Hold/Accumulate Upgraded
Predicted Opening Price for MasterCraft Boat Holdings, Inc. of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $21.37 ( 1.50%) | $21.05 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MCFT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 22.34 | 6.11 % | |
| R2 | 21.97 | 4.35 % | ||
| R1 | 21.74 | 3.26 % | ||
| Current price: | 21.05 | |||
| Support | S1 | 21.00 | -0.256 % | |
| S2 | 20.77 | -1.34 % | ||
| S3 | 20.40 | -3.10 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 21.93 | 4.18 % | |
| R2 | 21.76 | 3.37 % | ||
| R1 | 21.73 | 3.23 % | ||
| Current price | 21.05 | |||
| Support | S1 | 21.02 | -0.143% | |
| S2 | 20.88 | -0.81% | ||
| S3 | 20.84 | -1.00% |
MCFT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 27, 2016 | Jun 13, 2016 | Jun 10, 2016 | $4.30 | 27.42% |
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