Matrix Service Company Stock Forecast

Matrix Service Company stock price ended at $11.77 on Thursday, after gaining 1.99%.
(Updated on Apr 25, 2024)

MTRX Signals & Forecast

There are mixed signals in the stock today. The Matrix Service Company stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $12.66. On a fall, the stock will find some support from the short-term average at $11.61. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Wednesday, March 27, 2024, and so far it has fallen -11.97%. 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). Matrix Service Company has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk.

Support, Risk & Stop-loss for Matrix Service Company stock

Matrix Service Company finds support from accumulated volume at $11.61 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 $0.390 between high and low, or 3.42%. For the last week, the stock has had daily average volatility of 2.65%.

Matrix Service Company is oversold on RSI14 (20). 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 Friday 26th

For the upcoming trading day on Friday, 26th we expect Matrix Service Company to open at $11.67, and during the day (based on 14 day Average True Range), to move between $11.32 and $12.22, which gives a possible trading interval of +/-$0.445 (+/-3.78%) up or down from last closing price. If Matrix Service Company takes out the full calculated possible swing range there will be an estimated 7.56% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $11.61 (1.36%) than the resistance at $12.31 (4.59%), 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?

Matrix Service Company holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.

Current score: -3.618 Sell Candidate Unchanged

Predicted Opening Price for Matrix Service Company of Friday, April 26, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.