Mirriad Advertising plc Stock Forecast
Is Mirriad Advertising plc stock still a buy after falling -5.26% on Monday?
(Updated on Apr 22, 2024)
The Mirriad Advertising plc stock price fell by -5.26% on the last day (Monday, 22nd Apr 2024) from £1.90 to £1.80. During the last trading day the stock fluctuated 4.27% from a day low at £1.76 to a day high of £1.83. The price has fallen in 5 of the last 10 days and is down by -19.64% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -2 million shares and in total, 876 thousand shares were bought and sold for approximately £1.58 million.
The stock lies in the middle of a very 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 22.11% during the next 3 months and, with a 90% probability hold a price between £1.85 and £2.92 at the end of this 3-month period.
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MIRI.L Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has fallen 0%. 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 Mirriad Advertising plc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at £1.94 and £1.83. 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 together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Mirriad Advertising plc stock
Mirriad Advertising plc finds support from accumulated volume at £1.78 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved £0.0750 between high and low, or 4.27%. For the last week, the stock has had daily average volatility of 10.44%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MIRI.L) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect Mirriad Advertising plc to open at £1.80, and during the day (based on 14 day Average True Range), to move between £1.61 and £1.99, which gives a possible trading interval of +/-£0.191 (+/-10.60%) up or down from last closing price. If Mirriad Advertising plc takes out the full calculated possible swing range there will be an estimated 21.20% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £1.78 (1.39%) than the resistance at £1.88 (4.17%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Mirriad Advertising plc stock A Buy?
The Mirriad Advertising plc stock holds several negative signals and despite the positive trend, we believe Mirriad Advertising plc 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 Buy to a Sell candidate.
Current score: -3.330 Sell Candidate Downgraded
Predicted Opening Price for Mirriad Advertising plc of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| £1.80 ( 0.278%) | £1.80 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MIRI.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.87 | 3.89 % | |
| R2 | 1.84 | 2.30 % | ||
| R1 | 1.82 | 1.31 % | ||
| Current price: | 1.80 | |||
| Support | S1 | 1.77 | -1.87 % | |
| S2 | 1.75 | -2.85 % | ||
| S3 | 1.72 | -4.44 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.24 | 24.44 % | |
| R2 | 1.90 | 5.56 % | ||
| R1 | 1.88 | 4.17 % | ||
| Current price | 1.80 | |||
| Support | S1 | 1.78 | -1.39% | |
| S2 | 1.63 | -9.72% | ||
| S3 | 1.53 | -15.00% |
FAQ
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