Midstates Petroleum Company Inc Forecast and Stock Analysis
Technical MPO stock analysis for March 20, 2019.
|Shorts||0.92% ( 2019-02-28 )|
Midstates Petroleum Company Inc gained 5.39% in the last trading day, rising from $10.38 to $10.94 , and has now gained 8 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 34.4% over the past 2 weeks. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 85 936 more shares were traded than the day before. In total, 290 130 shares bought and sold for approximately $3.17 million.
Close price at the end of the last trading day (Wednesday, 20th Mar 2019) of the MPO stock was $10.94. This is 5.39% more than the trading day before Tuesday, 19th Mar 2019.
During day the stock fluctuated 7.24% from a day low at $10.36 to a day high of $11.11.
30 day high of the MPO stock price was $11.11 and low was $7.51.
90 day high was $11.11 and low was $6.22.
52 week high for the Midstates Petroleum Company Inc - $15.05 and low - $6.22.
Midstates Petroleum Company Inc has broken the very wide and strong rising the short-term trend up and an even stronger rising rate is indicated. For any reaction back there will now be support on the roof on the current trend broken at $10.79, a level that may pose a second chance to hit a runner. According to fan-theory $13.80 will be the next possible trend-top level and thereby pose a resistance level which may not be broken at the first attempt.
Midstates Petroleum Company Inc 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 $9.42 and $9.16. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday March 11, 2019, which indicates further gains until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal.
Relative Strength Index (RSI)
The stock holds a RSI14 at 76 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
On the downside, the stock finds support just below today's level from accumulated volume at $9.67 and $9.66.
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, Midstates Petroleum Company Inc finds support just below today's level at $9.67. If this is broken, then the next support from accumulated volume will be at $9.66 and $9.25.
This stock may move much during a 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 $0.75 between high and low, or 7.24%. For the last week, the stock has had a daily average volatility of 7.02%.
The stock is extremely overbought on RSI14 (76). Normally this will pose a good selling opportunity, but since the stock has broken the trend up the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken. Since the Midstates Petroleum Company Inc has been rising for 8 days in a row, the risk for the next couple of days has increased. As we cannot be certain with regards to the size of the reaction, we urge caution.
Our recommended stoploss: $10.45 (-4.50%) (This stock has high daily movements and this gives high risk. The RSI14 is 76 and this increases the risk substantially. There is a buy signal from pivot bottom found 7 days ago.)
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Midstates Petroleum Company Inc holds several positive signals, but we still don't find these to be enough for a buy-recommendation. At the current level we recommend to hold or accumulate in this position whilst awaiting for further development.