Modern Media Acquisition Corp Forecast and Stock Analysis
Technical MMDM stock analysis for February 15, 2019.
Modern Media Acquisition Corp fell by -0.10% in the last day from $10.29 to $10.28 The price has risen in 5 of the last 10 days and is up by 0.29% over the past 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 -11 411 shares and in total 208 shares bought and sold for approximately $2 138.24.
Close price at the end of the last trading day (Friday, 15th Feb 2019) of the MMDM stock was $10.28. This is 0.1% less than the trading day before Thursday, 14th Feb 2019.
During day the stock fluctuated 0.00% from a day low at $10.28 to a day high of $10.28.
30 day high of the MMDM stock price was $10.35 and low was $10.21.
90 day high was $10.35 and low was $10.01.
52 week high for the Modern Media Acquisition Corp - $10.35 and low - $9.80.
Given the current horizontal trend you can expect Modern Media Acquisition Corp with 90% probability to be traded between $10.43 and $10.49 at the end of this period with 90% probability. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the roof. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
Modern Media Acquisition Corp holds a sales signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock. On further gains, the stock will meet resistance from the short-term moving average at approximately $10.29. On a fall, the stock will find some support from the long-term average at approximately $10.24. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sales signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sales signal was issued from a pivot top point on Monday February 11, 2019, which indicates further falls until a new bottom pivot has been found. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Relative Strength Index (RSI)
RSI14 is 53 and the stock is currently not being overbought or oversold
Support & Resistance
Modern Media Acquisition Corp finds support from accumulated volume at $10.26.
In general the stock tends to have controlled movements, but the low liquidity has increased the risk substantially.
Our recommended stoploss: $9.87 (-4.03%) (This stock has low daily movements and this gives low risk. There is a sell signal from pivot top found 4 days ago.)
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Evaluation: Buy Candidate
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for this stock to perform well in the short-term period.