Mesa Laboratories Stock Analysis
Technical stock analysis for 22 January 2019
Mesa Laboratories gained 0.44% in the last trading day, rising from $216.05 to $217.01 , and has now gained 6 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. The price has risen in 7 of the last 10 days and is up by 3.99% over the past 2 weeks. Volume fell in the last day by -6 278 shares, and in total, 12 523 shares bought and sold for approximately $2.72 million. You should take into consideration that a falling volume on higher prices causes divergence and may be an early warning about possible changes for the next couple of days.
Close price at the end of the last trading day (Tuesday, 22nd Jan 2019) of the MLAB stock was $217.01. This is 0.44% more than the trading day before Friday, 18th Jan 2019.
During day the stock fluctuated 2.24% from a day low at $213.23 to a day high of $218.00.
30 day high of the MLAB stock price was $218.00 and low was $185.12.
90 day high was $224.52 and low was $176.32.
52 week high for the Mesa Laboratories - $224.95 and low - $124.29.
Mesa Laboratories 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 13.37% during the next 3 months and, with 90% probability hold a price between $229.14 and $268.34 at the end of this period.
Only positive signals in the chart today. Mesa Laboratories holds buy signals from both short- and long-term moving averages. In addition, 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 $215.06 and $210.01. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday January 03, 2019, which indicates further gains until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and may be an early warning. The stock should be watched closely.
Relative Strength Index (RSI)
The stock holds a RSI14 at 72 and is currently being overbought on RSI. This does not have to be a sales signal as many stocks may go both long and hard while being overbought on the RSI. It is therefore important to evaluate the history of the share as it may tell you something about the RSI-sensitiveness.
Support & Resistance
Mesa Laboratories finds support from accumulated volume at $208.69.
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 $4.77 (2.24%) between high and low. For the last week, the stock has had a daily average volatility of 1.64%.
Since the Mesa Laboratories has been rising for 6 days in a row, the risk for the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Our recommended stoploss: $207.26 (-4.49%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 72 and this increases the risk substantially. There is a buy signal from pivot bottom found 12 days ago.)
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Mesa Laboratories holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
|MLAB $217.01 $0.96(0.44%)|
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