Mesabi Trust Stock Forecast
Mesabi Trust stock price ended at $17.24 on Wednesday, after losing 0.145%.
(Updated on Apr 17, 2024)
The Mesabi Trust stock price fell by -0.145% on the last day (Wednesday, 17th Apr 2024) from $17.27 to $17.24. During the last trading day the stock fluctuated 2.44% from a day low at $17.20 to a day high of $17.62. The price has fallen in 7 of the last 10 days and is down by -4.43% for this period. Volume has increased on the last day by 6 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 33 thousand shares were bought and sold for approximately $572.85 thousand.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -13.42% during the next 3 months and, with a 90% probability hold a price between $13.63 and $16.08 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
MSB Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 1.11%. 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. The Mesabi Trust stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $17.31 and $17.83. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Mesabi Trust gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
A buy signal from a double bottom formation was found on Monday, April 15, 2024 and based on theory for this formation the price should go up by 21.24% to $20.90 within 28 trading days since signal was issued (Thursday, April 18, 2024).
Support, Risk & Stop-loss for Mesabi Trust stock
Mesabi Trust finds support from accumulated volume at $17.20 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 $0.420 between high and low, or 2.44%. For the last week, the stock has had daily average volatility of 2.98%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MSB) For The Upcoming Trading Day Of Thursday 18th
For the upcoming trading day on Thursday, 18th we expect Mesabi Trust to open at $17.35, and during the day (based on 14 day Average True Range), to move between $16.65 and $17.83, which gives a possible trading interval of +/-$0.588 (+/-3.41%) up or down from last closing price. If Mesabi Trust takes out the full calculated possible swing range there will be an estimated 6.82% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $17.20 (0.23%) than the resistance at $17.72 (2.78%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Mesabi Trust will release earnings BMO on Monday, April 22, 2024. We will update the financials statements for Mesabi Trust, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.77% in the first trading day after earnings release.
Is Mesabi Trust stock A Buy?
Mesabi Trust holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -3.262 Sell Candidate Unchanged
Predicted Opening Price for Mesabi Trust of Thursday, April 18, 2024
| Fair opening price April 18, 2024 | Current price |
|---|---|
| $17.35 ( 0.657%) | $17.24 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MSB
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 17.77 | 3.09 % | |
| R2 | 17.61 | 2.16 % | ||
| R1 | 17.51 | 1.59 % | ||
| Current price: | 17.24 | |||
| Support | S1 | 17.19 | -0.273 % | |
| S2 | 17.09 | -0.85 % | ||
| S3 | 16.93 | -1.78 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 19.45 | 12.82 % | |
| R2 | 18.78 | 8.93 % | ||
| R1 | 17.72 | 2.78 % | ||
| Current price | 17.24 | |||
| Support | S1 | 17.20 | -0.232% | |
| S2 | 17.15 | -0.522% | ||
| S3 | 17.13 | -0.638% |
MSB Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 12, 2024 | Jan 29, 2024 | Feb 20, 2024 | $0.370 | 1.97% |
| 2 | Oct 13, 2023 | Oct 27, 2023 | Nov 20, 2023 | $0.350 | 1.84% |
| 3 | Jul 15, 2022 | Jul 28, 2022 | Aug 20, 2022 | $0.84 | 3.04% |
| 4 | Apr 15, 2022 | Apr 28, 2022 | May 20, 2022 | $1.04 | 4.04% |
| 5 | Jan 10, 2022 | Jan 27, 2022 | Feb 20, 2022 | $1.75 | 7.61% |
FAQ
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