MGM Growth Properties LLC Forecast and Stock Analysis
Technical MGP stock analysis for March 19, 2019.
|Shorts||3.06% ( 2019-02-28 )|
MGM Growth Properties LLC gained 0.46% in the last trading day, rising from $30.55 to $30.69 The price has risen in 7 of the last 10 days and is up by 1.22% 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, 24 882 more shares were traded than the day before. In total, 403 300 shares bought and sold for approximately $12.38 million.
Close price at the end of the last trading day (Tuesday, 19th Mar 2019) of the MGP stock was $30.69. This is 0.46% more than the trading day before Monday, 18th Mar 2019.
During day the stock fluctuated 1.11% from a day low at $30.51 to a day high of $30.85.
30 day high of the MGP stock price was $31.51 and low was $29.36.
90 day high was $31.59 and low was $25.50.
52 week high for the MGM Growth Properties LLC - $31.61 and low - $25.50.
MGM Growth Properties LLC lies in the middle of a 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 15.9% during the next 3 months and, with 90% probability hold a price between $34.79 and $38.63 at the end of this period.
Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. MGM Growth Properties LLC holds a buysignal from the short-term moving average; at the same time, however, a sales signal from the long-term average. Since the longterm average is above the short-term average there is a general sales signal in the stock. On further gains, the stock will meet resistance from the long-term moving average at $30.77. On a fall, the stock will find some support from the short-term average at $30.66. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sales signal and strengthen the general signal. A sales signal was issued from a pivot top point on Friday March 15, 2019, which indicates further falls until a new bottom pivot has been found.
Relative Strength Index (RSI)
RSI14 is 52 and the stock is currently not being overbought or oversold
Support & Resistance
MGM Growth Properties LLC finds support from accumulated volume at $30.56.
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 $0.34 (1.11%) between high and low. For the last week, the stock has had a daily average volatility of 1.25%.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
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Evaluation: Sell Candidate
MGM Growth Properties LLC holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.