Meritage Corporation Stock Forecast
Meritage Corporation stock price up 0.227% on Friday
(Updated on Apr 19, 2024)
The Meritage Corporation stock price gained 0.227% on the last trading day (Friday, 19th Apr 2024), rising from $150.09 to $150.43. During the last trading day the stock fluctuated 1.94% from a day low at $149.81 to a day high of $152.71. The price has fallen in 6 of the last 10 days and is down by -8.04% for this period. Volume fell on the last day by -141 thousand shares and in total, 211 thousand shares were bought and sold for approximately $31.74 million. 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 at the lower part of a wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $150.09 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Meritage Corporation stock with a 90% probability to be traded between $150.01 and $175.34 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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MTH Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 0.227%. Further rise is indicated 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 it 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. The Meritage Corporation 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 $153.65 and $160.38. 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).
A buy signal from a double bottom formation was found on Thursday, April 18, 2024 and based on theory for this formation the price should go up by 22.50% to $184.28 within 42 trading days since signal was issued (Monday, April 22, 2024).
Support, Risk & Stop-loss for Meritage Corporation stock
Meritage Corporation finds support from accumulated volume at $150.14 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 $2.91 between high and low, or 1.94%. For the last week, the stock has had daily average volatility of 3.17%.
Meritage Corporation is oversold on RSI14 (21). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MTH) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Meritage Corporation to open at $150.98, and during the day (based on 14 day Average True Range), to move between $145.60 and $155.26, which gives a possible trading interval of +/-$4.83 (+/-3.21%) up or down from last closing price. If Meritage Corporation takes out the full calculated possible swing range there will be an estimated 6.42% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $150.14 (0.19%) than the resistance at $153.56 (2.08%), 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
Meritage Corporation will release earnings AMC on Wednesday, April 24, 2024.The consensus among the analysts for the expected earnings (EPS) is $3.56. We will update the financials statements for Meritage Corporation, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.43% in the first trading day after earnings release.
Is Meritage Corporation stock A Buy?
Meritage Corporation 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: -3.302 Sell Candidate Unchanged
Predicted Opening Price for Meritage Corporation of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $150.98 ( 0.367%) | $150.43 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MTH
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 153.89 | 2.30 % | |
| R2 | 152.78 | 1.56 % | ||
| R1 | 152.09 | 1.10 % | ||
| Current price: | 150.43 | |||
| Support | S1 | 149.87 | -0.371 % | |
| S2 | 149.19 | -0.83 % | ||
| S3 | 148.08 | -1.56 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 166.86 | 10.92 % | |
| R2 | 157.31 | 4.57 % | ||
| R1 | 153.56 | 2.08 % | ||
| Current price | 150.43 | |||
| Support | S1 | 150.14 | -0.193% | |
| S2 | 150.09 | -0.226% | ||
| S3 | 0 | . |
MTH Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 22, 2024 | Mar 14, 2024 | Mar 29, 2024 | $0.750 | 0.427% |
| 2 | Nov 16, 2023 | Dec 14, 2023 | Dec 29, 2023 | $0.270 | 0.155% |
| 3 | Aug 23, 2023 | Sep 14, 2023 | Sep 29, 2023 | $0.270 | 0.221% |
| 4 | May 18, 2023 | Jun 14, 2023 | Jun 30, 2023 | $0.270 | 0.190% |
| 5 | Feb 16, 2023 | Mar 14, 2023 | Mar 31, 2023 | $0.270 | 0.231% |
FAQ
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