Mesa Laboratories Stock Forecast
Mesa Laboratories stock upgraded to Strong Buy Candidate.
(Updated on Mar 28, 2024)
The Mesa Laboratories stock price gained 2.31% on the last trading day (Thursday, 28th Mar 2024), rising from $107.25 to $109.73. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.88% from a day low at $108.17 to a day high of $111.29. The price has risen in 8 of the last 10 days and is up by 9.89% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 21 thousand more shares were traded than the day before. In total, 41 thousand shares were bought and sold for approximately $4.50 million.
The stock 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 11.63% during the next 3 months and, with a 90% probability hold a price between $108.98 and $130.72 at the end of this 3-month period.
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MLAB Signals & Forecast
The Mesa Laboratories 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 $104.74 and $104.30. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. 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, March 07, 2024, and so far it has fallen -3.83%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Mesa Laboratories stock
Mesa Laboratories finds support from accumulated volume at $106.26 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $3.12 between high and low, or 2.88%. For the last week, the stock has had daily average volatility of 4.83%.
Our recommended stop-loss: $104.85 (-4.44%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 15 days ago.)
Trading Expectations (MLAB) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Mesa Laboratories to open at $109.73, and during the day (based on 14 day Average True Range), to move between $105.39 and $114.07, which gives a possible trading interval of +/-$4.34 (+/-3.96%) up or down from last closing price. If Mesa Laboratories takes out the full calculated possible swing range there will be an estimated 7.92% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $111.26 (1.39%) than the support at $106.26 (3.16%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Mesa Laboratories stock A Buy?
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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Buy candidate.
Current score: 5.373 Strong Buy Candidate Upgraded
Predicted Opening Price for Mesa Laboratories of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$109.73 ( 0%) | $109.73 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MLAB
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 112.85 | 2.84 % | |
R2 | 111.66 | 1.76 % | ||
R1 | 110.92 | 1.09 % | ||
Current price: | 109.73 | |||
Support | S1 | 108.54 | -1.09 % | |
S2 | 107.80 | -1.76 % | ||
S3 | 106.61 | -2.84 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 112.30 | 2.34 % | |
R2 | 111.80 | 1.89 % | ||
R1 | 111.26 | 1.39 % | ||
Current price | 109.73 | |||
Support | S1 | 106.26 | -3.16% | |
S2 | 99.30 | -9.51% | ||
S3 | 97.13 | -11.48% |
MLAB Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jan 02, 2024 | Feb 28, 2024 | Mar 15, 2024 | $0.160 | 0.158% |
2 | Oct 03, 2023 | Nov 29, 2023 | Dec 15, 2023 | $0.160 | 0.145% |
3 | Jul 05, 2023 | Aug 30, 2023 | Sep 15, 2023 | $0.160 | 0.130% |
4 | Apr 03, 2023 | May 30, 2023 | Jun 15, 2023 | $0.160 | 0.119% |
5 | Jan 03, 2023 | Feb 27, 2023 | Mar 15, 2023 | $0.160 | 0.0953% |
FAQ
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