Mesa Laboratories Forecast and Stock Analysis
Technical MLAB stock analysis for March 22, 2019.
Mesa Laboratories fell by -2.53% in the last day from $232.09 to $226.22 The price has been going up and down for this period, and there has been a -0.52% loss for the last 2 weeks. Volume fell in the last day along with the stock, which is actually a good sign as volume should follow the stock. In the last day the trading volume fell by -5 097 shares and in total 38 495 shares bought and sold for approximately $8.71 million.
Close price at the end of the last trading day (Friday, 22nd Mar 2019) of the MLAB stock was $226.22. This is 2.53% less than the trading day before Thursday, 21st Mar 2019.
During day the stock fluctuated 3.35% from a day low at $226.01 to a day high of $233.58.
30 day high of the MLAB stock price was $241.83 and low was $225.33.
90 day high was $241.83 and low was $185.12.
52 week high for the Mesa Laboratories - $241.83 and low - $131.51.
Mesa Laboratories has broken the strong rising short-term trend down. This signalize a slower rising rate, but may also be an early warning about a possible trend shift. Due to trend being broken there will now be resistance at the bottom line of the trend at $229.09. A reaction back to this level may hold a second chance to get out before further falls.
There are few to none technical positive signals at the moment. Mesa Laboratories holds sales signals from both short- and long-term moving averages. In addition, there is a general sales 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 $231.09 and $231.89. A break-up above any of these levels will issue buy signals. A sales signal was issued from a pivot top point on Thursday March 21, 2019, which indicates further falls until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Relative Strength Index (RSI)
RSI14 is 34 and the stock is currently not being overbought or oversold
Support & Resistance
On the downside, the stock finds support just below today's level from accumulated volume at $208.69 and $207.29.
There is natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Mesa Laboratories finds support just below today's level at $208.69. If this is broken, then the next support from accumulated volume will be at $207.29 and $205.61.
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 $7.57 (3.35%) between high and low. For the last week, the stock has had a daily average volatility of 2.64%.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
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Evaluation: Sell Candidate
The Mesa Laboratories stock holds several negative signals and despite the positive trend we believe Mesa Laboratories will perform weak 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 recommendation for this stock since last evaluation from a Buy Candidate to a Sell Candidate.