Mastech Holdings, Inc Stock Forecast
Stronger technical forecast for Mastech Holdings, Inc stock price after Wednesday trading.
(Updated on Apr 24, 2024)
The Mastech Holdings, Inc stock price gained 1.65% on the last trading day (Wednesday, 24th Apr 2024), rising from $8.49 to $8.63. During the last trading day the stock fluctuated 1.53% from a day low at $8.50 to a day high of $8.63. The price has fallen in 5 of the last 10 days and is down by -4.11% for this period. Volume fell on the last day by -7 thousand shares and in total, 3 thousand shares were bought and sold for approximately $25.61 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 middle of a weak 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 3.55% during the next 3 months and, with a 90% probability hold a price between $8.80 and $9.46 at the end of this 3-month period.
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MHH Signals & Forecast
The Mastech 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 $8.79 and $8.82. 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 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 not be. The very low volume increases the risk and reduces the other technical signals issued. Some positive signals were issued as well, and these may have some influence on the near short-term development. A buy signal was issued from a pivot bottom point on Tuesday, April 23, 2024, and so far it has risen 1.65%. Further rise is indicated until a new top pivot has been found.
Support, Risk & Stop-loss for Mastech Holdings, Inc stock
Mastech Holdings, Inc finds support from accumulated volume at $8.56 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0.130 between high and low, or 1.53%. For the last week the stock has had daily average volatility of 1.81%
Our recommended stop-loss: $8.18 (-5.19%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 1 day ago.)
Trading Expectations (MHH) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Mastech Holdings, Inc to open at $8.59, and during the day (based on 14 day Average True Range), to move between $8.45 and $8.81, which gives a possible trading interval of +/-$0.178 (+/-2.06%) up or down from last closing price. If Mastech Holdings, Inc takes out the full calculated possible swing range there will be an estimated 4.12% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $8.56 (0.81%) than the resistance at $8.76 (1.51%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Mastech Holdings, Inc stock A Buy?
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 1.104 Buy Candidate Upgraded
Predicted Opening Price for Mastech Holdings, Inc of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $8.59 ( 0.502%) | $8.63 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MHH
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.72 | 1.00 % | |
| R2 | 8.67 | 0.429 % | ||
| R1 | 8.64 | 0.0733 % | ||
| Current price: | 8.63 | |||
| Support | S1 | 8.54 | -1.08 % | |
| S2 | 8.51 | -1.43 % | ||
| S3 | 8.46 | -2.01 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.81 | 2.09 % | |
| R2 | 8.78 | 1.74 % | ||
| R1 | 8.76 | 1.51 % | ||
| Current price | 8.63 | |||
| Support | S1 | 8.56 | -0.81% | |
| S2 | 8.51 | -1.39% | ||
| S3 | 8.42 | -2.43% |
MHH Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Oct 30, 2013 | Dec 05, 2013 | Dec 20, 2013 | $0.250 | 3.13% |
| 2 | Nov 29, 2012 | Dec 24, 2012 | Dec 21, 2012 | $0.80 | 25.48% |
FAQ
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