Mistras Group Inc Stock Forecast
Mistras Group Inc stock downgraded from Hold/Accumulate to Sell Candidate after Friday trading session.
(Updated on Apr 26, 2024)
The Mistras Group Inc stock price gained 1.47% on the last trading day (Friday, 26th Apr 2024), rising from $8.82 to $8.95. During the last trading day the stock fluctuated 3.69% from a day low at $8.82 to a day high of $9.14. The price has risen in 6 of the last 10 days but is still down by -1.1% for this period. Volume fell on the last day by -10 thousand shares and in total, 16 thousand shares were bought and sold for approximately $140.69 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $8.85 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 18.74% during the next 3 months and, with a 90% probability hold a price between $10.50 and $12.05 at the end of this 3-month period.
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MG Signals & Forecast
There are few to no technical positive signals at the moment. The Mistras Group 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 $9.01 and $9.23. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 03, 2024, and so far it has fallen -7.83%. 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). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for Mistras Group Inc stock
Mistras Group Inc finds support from accumulated volume at $8.94 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.325 between high and low, or 3.69%. For the last week the stock has had daily average volatility of 2.96%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MG) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Mistras Group Inc to open at $8.97, and during the day (based on 14 day Average True Range), to move between $8.60 and $9.30, which gives a possible trading interval of +/-$0.347 (+/-3.87%) up or down from last closing price. If Mistras Group Inc takes out the full calculated possible swing range there will be an estimated 7.75% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $8.94 (0.11%) than the resistance at $9.24 (3.24%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Mistras Group Inc will release earnings BMO on Wednesday, May 01, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.0400. We will update the financials statements for Mistras Group Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.22% in the first trading day after earnings release.
Is Mistras Group Inc stock A Buy?
The Mistras Group Inc stock holds several negative signals and despite the positive trend, we believe Mistras Group Inc 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: -3.135 Sell Candidate Downgraded
Predicted Opening Price for Mistras Group Inc of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $8.97 ( 0.204%) | $8.95 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MG
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.29 | 3.83 % | |
| R2 | 9.17 | 2.45 % | ||
| R1 | 9.09 | 1.59 % | ||
| Current price: | 8.95 | |||
| Support | S1 | 8.84 | -1.18 % | |
| S2 | 8.77 | -2.04 % | ||
| S3 | 8.64 | -3.43 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.31 | 4.02 % | |
| R2 | 9.30 | 3.91 % | ||
| R1 | 9.24 | 3.24 % | ||
| Current price | 8.95 | |||
| Support | S1 | 8.94 | -0.112% | |
| S2 | 8.93 | -0.223% | ||
| S3 | 8.91 | -0.447% |
FAQ
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