Middlesex Water Company Stock Forecast
Green day on Wednesday for Middlesex Water Company stock after gaining 1.74%
(Updated on Apr 24, 2024)
The Middlesex Water Company stock price gained 1.74% on the last trading day (Wednesday, 24th Apr 2024), rising from $48.24 to $49.08. It has now gained 6 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. During the last trading day the stock fluctuated 3.50% from a day low at $47.72 to a day high of $49.39. The price has risen in 8 of the last 10 days and is up by 2.57% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 3 thousand more shares were traded than the day before. In total, 93 thousand shares were bought and sold for approximately $4.57 million.
The stock lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $49.63 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -16.59% during the next 3 months and, with a 90% probability hold a price between $37.44 and $41.40 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.
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MSEX Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 7.07%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Middlesex Water Company 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 $49.85. On a fall, the stock will find some support from the short-term average at $47.39. 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.
Support, Risk & Stop-loss for Middlesex Water Company stock
Middlesex Water Company finds support from accumulated volume at $48.00 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 $1.67 between high and low, or 3.50%. For the last week, the stock has had daily average volatility of 2.81%.
Since the Middlesex Water Company has been rising for 6 days in a row, the risk over the next couple of days has increased.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MSEX) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Middlesex Water Company to open at $48.73, and during the day (based on 14 day Average True Range), to move between $47.64 and $50.52, which gives a possible trading interval of +/-$1.44 (+/-2.93%) up or down from last closing price. If Middlesex Water Company takes out the full calculated possible swing range there will be an estimated 5.87% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $48.00 (2.20%) than the resistance at $51.47 (4.87%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Middlesex Water Company stock A Buy?
Middlesex Water Company 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: -2.265 Sell Candidate Unchanged
Predicted Opening Price for Middlesex Water Company of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $48.73 ( 0.713%) | $49.08 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MSEX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 50.40 | 2.69 % | |
| R2 | 49.76 | 1.39 % | ||
| R1 | 49.37 | 0.587 % | ||
| Current price: | 49.08 | |||
| Support | S1 | 48.09 | -2.01 % | |
| S2 | 47.70 | -2.82 % | ||
| S3 | 47.06 | -4.12 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 54.31 | 10.66 % | |
| R2 | 52.57 | 7.11 % | ||
| R1 | 51.47 | 4.87 % | ||
| Current price | 49.08 | |||
| Support | S1 | 48.00 | -2.20% | |
| S2 | 47.39 | -3.44% | ||
| S3 | 45.84 | -6.60% |
MSEX Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 29, 2024 | Feb 14, 2024 | Mar 01, 2024 | $0.325 | 0.634% |
| 2 | Oct 20, 2023 | Nov 15, 2023 | Dec 01, 2023 | $0.330 | 0.500% |
| 3 | Jul 21, 2023 | Aug 10, 2023 | Sep 01, 2023 | $0.313 | 0.423% |
| 4 | Apr 28, 2023 | May 11, 2023 | Jun 01, 2023 | $0.313 | 0.393% |
| 5 | Jan 27, 2023 | Feb 13, 2023 | Mar 01, 2023 | $0.313 | 0.408% |
FAQ
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