Morguard REIT Stock Forecast
Morguard REIT stock upgraded to Buy Candidate.
(Updated on Apr 18, 2024)
The Morguard REIT stock price gained 1.13% on the last trading day (Thursday, 18th Apr 2024), rising from $5.30 to $5.36. During the last trading day the stock fluctuated 0.94% from a day low at $5.31 to a day high of $5.36. The price has fallen in 5 of the last 10 days and is down by -0.56% for this period. Volume fell on the last day by -580 shares and in total, 7 thousand shares were bought and sold for approximately $38.86 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock is moving within a narrow and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Morguard REIT stock with a 90% probability to be traded between $5.24 and $5.38 at the end of this 3-month period. 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 top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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MRT-UN.TO Signals & Forecast
The Morguard REIT stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $5.31 and $5.34. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 10, 2024, and so far it has risen 1.71%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued. The stock had a Golden Star Signal on Tuesday, April 16, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star
The stock had a Golden Star Signal on Tuesday, April 16, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
A buy signal from a double bottom formation was found on Monday, March 04, 2024 and based on theory for this formation the price should go up by 3.26% to $5.53 within 23 trading days since signal was issued (Friday, April 19, 2024).
Support, Risk & Stop-loss for Morguard REIT stock
Morguard REIT finds support from accumulated volume at $5.34 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0.0500 between high and low, or 0.94%. For the last week the stock has had daily average volatility of 0.339%
Our recommended stop-loss: $5.09 (-5.02%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (MRT-UN.TO) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Morguard REIT to open at $5.34, and during the day (based on 14 day Average True Range), to move between $5.31 and $5.41, which gives a possible trading interval of +/-$0.0538 (+/-1.00%) up or down from last closing price. If Morguard REIT takes out the full calculated possible swing range there will be an estimated 2.01% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $5.37 (0.19%) than the support at $5.34 (0.37%), 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 Morguard REIT stock A Buy?
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 Morguard REIT stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 1.208 Buy Candidate Upgraded
Predicted Opening Price for Morguard REIT of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $5.34 ( 0.311%) | $5.36 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MRT-UN.TO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.39 | 0.622 % | |
| R2 | 5.37 | 0.266 % | ||
| R1 | 5.36 | 0.0454 % | ||
| Current price: | 5.36 | |||
| Support | S1 | 5.32 | -0.667 % | |
| S2 | 5.31 | -0.89 % | ||
| S3 | 5.29 | -1.24 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.42 | 1.12 % | |
| R2 | 5.40 | 0.746 % | ||
| R1 | 5.37 | 0.187 % | ||
| Current price | 5.36 | |||
| Support | S1 | 5.34 | -0.373% | |
| S2 | 5.31 | -0.93% | ||
| S3 | 5.30 | -1.12% |
MRT-UN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 29, 2024 | Apr 29, 2024 | May 15, 2024 | $0.0200 | 0.373% |
| 2 | Mar 27, 2024 | Mar 27, 2024 | Mar 27, 2024 | $0 | 0% |
| 3 | Feb 28, 2024 | Feb 28, 2024 | Mar 15, 2024 | $0 | 0% |
| 4 | Jan 30, 2024 | Jan 30, 2024 | Jan 30, 2024 | $0 | 0% |
| 5 | Dec 14, 2023 | Dec 14, 2023 | Dec 15, 2023 | $0 | 0% |
FAQ
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