Mullen Group Ltd. Stock Forecast
Red day on Thursday for Mullen Group Ltd. stock after losing 0.0699%
(Updated on Apr 18, 2024)
The Mullen Group Ltd. stock price fell by -0.0699% on the last day (Thursday, 18th Apr 2024) from $14.31 to $14.30. During the last trading day the stock fluctuated 1.19% from a day low at $14.27 to a day high of $14.44. The price has been going up and down for this period, and there has been a -2.12% loss for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -64 thousand shares and in total, 86 thousand shares were bought and sold for approximately $1.22 million.
The stock lies in the lower of a falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $14.14 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -4.70% during the next 3 months and, with a 90% probability hold a price between $13.47 and $14.26 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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MTL.TO Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Mullen Group Ltd. 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 $14.65 and $14.68. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 09, 2024, and so far it has fallen -4.79%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Mullen Group Ltd. stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0.170 between high and low, or 1.19%. For the last week the stock has had daily average volatility of 1.96%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MTL.TO) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Mullen Group Ltd. to open at $14.34, and during the day (based on 14 day Average True Range), to move between $14.06 and $14.54, which gives a possible trading interval of +/-$0.239 (+/-1.67%) up or down from last closing price. If Mullen Group Ltd. takes out the full calculated possible swing range there will be an estimated 3.34% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $14.60, some $0.300 (2.10%) from the current price of $14.30, our system finds the risk reward not very attractive.
Earnings coming up
Mullen Group Ltd. will release earnings BMO on Thursday, April 25, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.310. We will update the financials statements for Mullen Group Ltd., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 6.50% in the first trading day after earnings release.
Is Mullen Group Ltd. stock A Buy?
Mullen Group Ltd. holds several negative signals and is within a 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: -2.736 Sell Candidate Unchanged
Predicted Opening Price for Mullen Group Ltd. of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $14.34 ( 0.256%) | $14.30 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MTL.TO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 14.51 | 1.45 % | |
| R2 | 14.44 | 0.99 % | ||
| R1 | 14.40 | 0.711 % | ||
| Current price: | 14.30 | |||
| Support | S1 | 14.27 | -0.198 % | |
| S2 | 14.23 | -0.478 % | ||
| S3 | 14.17 | -0.93 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 15.06 | 5.31 % | |
| R2 | 15.00 | 4.90 % | ||
| R1 | 14.60 | 2.10 % | ||
| Current price | 14.30 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
MTL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 27, 2024 | Mar 27, 2024 | Mar 27, 2024 | $0 | 0% |
| 2 | Feb 28, 2024 | Feb 28, 2024 | Mar 15, 2024 | $0.0600 | 0.418% |
| 3 | Jan 30, 2024 | Jan 30, 2024 | Feb 15, 2024 | $0.0600 | 0.411% |
| 4 | Dec 28, 2023 | Dec 28, 2023 | Dec 28, 2023 | $0 | 0% |
| 5 | Nov 29, 2023 | Nov 29, 2023 | Nov 29, 2023 | $0 | 0% |
FAQ
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