Mountain Province Diamonds Inc. Stock Forecast

Red day on Wednesday for Mountain Province Diamonds Inc.
(Updated on Apr 24, 2024)

MPVD.TO Signals & Forecast

A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 6.06%. Further rise is indicated until a new top pivot has been found. Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Mountain Province Diamonds Inc. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $0.220. On a fall, the stock will find some support from the short-term average at $0.173. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Mountain Province Diamonds Inc. stock

Mountain Province Diamonds Inc. finds support from accumulated volume at $0.170 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.0100 between high and low, or 6.06%. For the last week, the stock has had daily average volatility of 7.42%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (MPVD.TO) For The Upcoming Trading Day Of Thursday 25th

For the upcoming trading day on Thursday, 25th we expect Mountain Province Diamonds Inc. to open at $0.172, and during the day (based on 14 day Average True Range), to move between $0.160 and $0.190, which gives a possible trading interval of +/-$0.0154 (+/-8.80%) up or down from last closing price. If Mountain Province Diamonds Inc. takes out the full calculated possible swing range there will be an estimated 17.60% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.170 (2.86%) than the resistance at $0.180 (2.86%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Mountain Province Diamonds Inc. stock A Buy?

Mountain Province Diamonds Inc. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.

Current score: -3.704 Sell Candidate Unchanged

Predicted Opening Price for Mountain Province Diamonds Inc. of Thursday, April 25, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.