Meritage Corporation Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Meritage Corporation stock price ended at $169.48 on Friday, after gaining 2.67%.
(Updated on Apr 26, 2024)
The Meritage Corporation stock price gained 2.67% on the last trading day (Friday, 26th Apr 2024), rising from $165.07 to $169.48. During the last trading day the stock fluctuated 3.93% from a day low at $167.66 to a day high of $174.26. The price has been going up and down for this period, and there has been a 6.5% gain for the last 2 weeks. Volume fell on the last day by -347 thousand shares and in total, 563 thousand shares were bought and sold for approximately $95.38 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 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 2.62% during the next 3 months and, with a 90% probability hold a price between $154.47 and $181.56 at the end of this 3-month period.
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MTH Signals & Forecast
The Meritage Corporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $157.15 and $160.74. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 12.92%. 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. 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 8.73% to $184.28 within 42 trading days since signal was issued (Monday, April 29, 2024).
Support, Risk & Stop-loss for Meritage Corporation stock
Meritage Corporation finds support from accumulated volume at $165.07 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 $6.60 between high and low, or 3.93%. For the last week, the stock has had daily average volatility of 3.88%.
Our recommended stop-loss: $163.79 (-3.36%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (MTH) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Meritage Corporation to open at $170.47, and during the day (based on 14 day Average True Range), to move between $163.71 and $175.25, which gives a possible trading interval of +/-$5.77 (+/-3.41%) up or down from last closing price. If Meritage Corporation takes out the full calculated possible swing range there will be an estimated 6.81% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $172.05 (1.52%) than the support at $165.07 (2.60%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Meritage Corporation stock A Buy?
Meritage Corporation holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.354 Hold/Accumulate Unchanged
Predicted Opening Price for Meritage Corporation of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $170.47 ( 0.581%) | $169.48 |
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 | 177.06 | 4.47 % | |
| R2 | 174.54 | 2.99 % | ||
| R1 | 172.98 | 2.07 % | ||
| Current price: | 169.48 | |||
| Support | S1 | 167.95 | -0.91 % | |
| S2 | 166.39 | -1.82 % | ||
| S3 | 163.87 | -3.31 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 175.46 | 3.53 % | |
| R2 | 172.63 | 1.86 % | ||
| R1 | 172.05 | 1.52 % | ||
| Current price | 169.48 | |||
| Support | S1 | 165.07 | -2.60% | |
| S2 | 157.31 | -7.18% | ||
| S3 | 153.56 | -9.39% |
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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