Meritage Corporation Forecast and Stock Analysis
Technical MTH stock analysis for March 18, 2019.
|Shorts||4.72% ( 2019-02-28 )|
Meritage Corporation gained 0.28% in the last trading day, rising from $43.16 to $43.28 The price has fallen in 7 of the last 10 days and is down by -3.18% for this period. Volume fell in the last day by -516 973 shares, and in total, 259 725 shares bought and sold for approximately $11.24 million. You should take into consideration that a falling volume on higher prices causes divergence and may be an early warning about possible changes for the next couple of days.
Close price at the end of the last trading day (Monday, 18th Mar 2019) of the MTH stock was $43.28. This is 0.28% more than the trading day before Friday, 15th Mar 2019.
During day the stock fluctuated 1.85% from a day low at $42.78 to a day high of $43.57.
30 day high of the MTH stock price was $46.69 and low was $41.50.
90 day high was $46.69 and low was $33.57.
52 week high for the Meritage Corporation - $48.70 and low - $32.02.
Meritage Corporation lies in the lower part of a wide and strong rising trend in the short term, and this will normally pose a very good buying opportunity. A break down the bottom trend line at $42.03 will firstly indicate a slower raising rate, but may also be a early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 20.83% during the next 3 months and, with 90% probability hold a price between $50.78 and $59.51 at the end of this period.
A buy signal was issued from a pivot bottom point on Friday March 15, 2019, which indicates further gains until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. Meritage Corporation holds sales signals from both short- and long-term moving averages. In addition, there is a general sales 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 $43.49 and $43.82. A break-up above any of these levels will issue buy signals.
Relative Strength Index (RSI)
RSI14 is 40 and the stock is currently not being overbought or oversold
Support & Resistance
Meritage Corporation finds support from accumulated volume at $43.16.
This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved $0.79 (1.85%) between high and low. For the last week, the stock has had a daily average volatility of 1.81%.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
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Evaluation: Sell Candidate
The Meritage Corporation stock holds several negative signals and despite the positive trend we believe Meritage Corporation will perform weak in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.