Mexco Energy Corp Stock Forecast
Green day on Wednesday for Mexco Energy Corp stock after gaining 4.41%
(Updated on Mar 27, 2024)
The Mexco Energy Corp stock price gained 4.41% on the last trading day (Wednesday, 27th Mar 2024), rising from $9.75 to $10.18. During the last trading day the stock fluctuated 5.58% from a day low at $9.67 to a day high of $10.21. The price has risen in 5 of the last 10 days but is still down by -1.26% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 thousand more shares were traded than the day before. In total, 2 thousand shares were bought and sold for approximately $21.03 thousand.
The stock is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Mexco Energy Corp stock with a 90% probability to be traded between $9.81 and $10.71 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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MXC Signals & Forecast
Mostly positive signals in the chart today. The Mexco Energy Corp 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 $9.87 and $9.97. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, March 19, 2024, and so far it has risen 5.93%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Mexco Energy Corp 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. The very low volume increases the risk and reduces the other technical signals issued. The stock had a Golden Star Signal on Friday, February 23, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star
The stock had a Golden Star Signal on Friday, February 23, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Mexco Energy Corp stock
Mexco Energy Corp finds support from accumulated volume at $10.14 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.540 (5.58%) between high and low. For the last week, the stock has had daily average volatility of 4.18%.
Our recommended stop-loss: $9.74 (-4.28%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (MXC) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Mexco Energy Corp to open at $10.02, and during the day (based on 14 day Average True Range), to move between $9.87 and $10.49, which gives a possible trading interval of +/-$0.312 (+/-3.06%) up or down from last closing price. If Mexco Energy Corp takes out the full calculated possible swing range there will be an estimated 6.13% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $10.14 (0.39%) than the resistance at $10.31 (1.28%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Mexco Energy Corp stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Mexco Energy Corp stock to perform well in the short-term period.
Current score: 2.031 Buy Candidate Unchanged
Predicted Opening Price for Mexco Energy Corp of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$10.02 ( 1.57%) | $10.18 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MXC
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 10.56 | 3.73 % | |
R2 | 10.35 | 1.71 % | ||
R1 | 10.23 | 0.455 % | ||
Current price: | 10.18 | |||
Support | S1 | 9.81 | -3.60 % | |
S2 | 9.69 | -4.85 % | ||
S3 | 9.48 | -6.88 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 10.49 | 3.05 % | |
R2 | 10.40 | 2.16 % | ||
R1 | 10.31 | 1.28 % | ||
Current price | 10.18 | |||
Support | S1 | 10.14 | -0.393% | |
S2 | 9.80 | -3.73% | ||
S3 | 9.73 | -4.42% |
MXC Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 10, 2023 | Apr 28, 2023 | May 15, 2023 | $0.100 | 0.93% |
FAQ
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