Meritage Corporation Stock Analysis
Technical stock analysis for 23 January 2019
|Shorts||4.89% ( 2018-12-31 )|
Meritage Corporation gained 1.44% in the last trading day, rising from $38.97 to $39.53 The price has fallen in 7 of the last 10 days and is down by -4.05% for this period. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 17 609 more shares were traded than the day before. In total, 367 197 shares bought and sold for approximately $14.52 million.
Close price at the end of the last trading day (Wednesday, 23rd Jan 2019) of the MTH stock was $39.53. This is 1.44% more than the trading day before Tuesday, 22nd Jan 2019.
During day the stock fluctuated 2.75% from a day low at $38.86 to a day high of $39.93.
30 day high of the MTH stock price was $42.63 and low was $33.57.
90 day high was $42.63 and low was $33.07.
52 week high for the Meritage Corporation - $52.90 and low - $32.02.
Meritage Corporation lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 7.28% during the next 3 months and, with 90% probability hold a price between $37.42 and $45.64 at the end of this period.
Only positive signals in the chart today. Meritage Corporation holds a sales signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock. On further gains, the stock will meet resistance from the short-term moving average at approximately $40.03. On a fall, the stock will find some support from the long-term average at approximately $38.21. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sales signal. A buy signal was issued from a pivot bottom point on Tuesday January 22, 2019, which indicates further gains until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal.
Relative Strength Index (RSI)
RSI14 is 59 and the stock is currently not being overbought or oversold
Support & Resistance
On the downside, the stock finds support just below today's level from accumulated volume at $37.25 and $37.14.
There is natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Meritage Corporation finds support just below today's level at $37.25. If this is broken, then the next support from accumulated volume will be at $37.14 and $35.87.
This stock may move much during a day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $1.07 between high and low, or 2.75%. For the last week, the stock has had a daily average volatility of 3.05%.
Our recommended stoploss: $37.16 (-5.99%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from pivot bottom found 1 days ago.)
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Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for this stock to perform well in the short-term.
|MTH $39.53 $0.56(1.44%)|
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