Mimecast Limited Stock Forecast

Mimecast Limited stock downgraded to Hold/Accumulate
(Updated on May 20, 2022)

MIME Signals & Forecast

The Mimecast Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, 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 $79.86 and $79.73. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, May 19, 2022, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued. The stock had a Golden Star Signal on Tuesday, March 22, 2022 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Mimecast Limited stock

Mimecast Limited finds support from accumulated volume at $79.65 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 between high and low, or 0%. For the last week the stock has had daily average volatility of 0.0727%

Our recommended stop-loss: $76.98 (-3.68%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 day ago.)

Trading Expectations (MIME) For The Upcoming Trading Day Of Monday 23rd

For the upcoming trading day on Monday, 23rd we expect Mimecast Limited to open at $79.92, and during the day (based on 14 day Average True Range), to move between $79.80 and $80.04, which gives a possible trading interval of +/-$0.122 (+/-0.15%) up or down from last closing price. If Mimecast Limited takes out the full calculated possible swing range there will be an estimated 0.31% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $79.65, some $0.270 (0.34%) from the current price of $79.92, our system finds the risk reward attractive.

Is Mimecast Limited stock A Buy?

Mimecast Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: 0.000 Hold/Accumulate Downgraded

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Mimecast Limited of Monday, May 23, 2022

The predicted opening price is based on yesterday's movements between high, low, and closing price.