Matrix Service Company Stock Forecast
Red day on Monday for Matrix Service Company stock after losing 1.29%
(Updated on Apr 22, 2024)
The Matrix Service Company stock price fell by -1.29% on the last day (Monday, 22nd Apr 2024) from $11.61 to $11.46. During the last trading day the stock fluctuated 2.99% from a day low at $11.37 to a day high of $11.71. The price has fallen in 8 of the last 10 days and is down by -12.85% for this period. Volume has increased on the last day by 43 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 160 thousand shares were bought and sold for approximately $1.83 million.
Given the current short-term trend, the stock is expected to rise 28.21% during the next 3 months and, with a 90% probability hold a price between $14.69 and $18.24 at the end of this 3-month period.
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MTRX Signals & Forecast
There are few to no technical positive signals at the moment. The Matrix Service Company 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 $11.83 and $12.72. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 27, 2024, and so far it has fallen -14.29%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Matrix Service Company stock
Matrix Service Company finds support from accumulated volume at $11.34 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 $0.340 between high and low, or 2.99%. For the last week, the stock has had daily average volatility of 3.53%.
Matrix Service Company is oversold on RSI14 (23). 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 (MTRX) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect Matrix Service Company to open at $11.51, and during the day (based on 14 day Average True Range), to move between $10.98 and $11.94, which gives a possible trading interval of +/-$0.478 (+/-4.17%) up or down from last closing price. If Matrix Service Company takes out the full calculated possible swing range there will be an estimated 8.34% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $11.34 (1.05%) than the resistance at $12.31 (7.42%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Matrix Service Company stock A Buy?
The Matrix Service Company stock holds several negative signals and despite the positive trend, we believe Matrix Service Company will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -1.840 Sell Candidate Unchanged
Predicted Opening Price for Matrix Service Company of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| $11.51 ( 0.465%) | $11.46 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MTRX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.85 | 3.43 % | |
| R2 | 11.72 | 2.30 % | ||
| R1 | 11.64 | 1.60 % | ||
| Current price: | 11.46 | |||
| Support | S1 | 11.38 | -0.668 % | |
| S2 | 11.30 | -1.37 % | ||
| S3 | 11.17 | -2.50 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.22 | 15.36 % | |
| R2 | 12.34 | 7.68 % | ||
| R1 | 12.31 | 7.42 % | ||
| Current price | 11.46 | |||
| Support | S1 | 11.34 | -1.05% | |
| S2 | 9.21 | -19.63% | ||
| S3 | 8.95 | -21.90% |
FAQ
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