Mexico Equity and Income Fund Inc (The) Stock Forecast
Green day on Friday for Mexico Equity and Income Fund Inc (The)
(Updated on Apr 26, 2024)
The Mexico Equity and Income Fund Inc (The) stock price gained 1.19% on the last trading day (Friday, 26th Apr 2024), rising from $10.90 to $11.03. During the last trading day the stock fluctuated 2.12% from a day low at $10.84 to a day high of $11.07. The price has fallen in 7 of the last 10 days and is down by -2.82% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 7 thousand more shares were traded than the day before. In total, 9 thousand shares were bought and sold for approximately $103.63 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 Mexico Equity and Income Fund Inc (The) stock with a 90% probability to be traded between $10.61 and $11.51 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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MXE Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 3.38%. Further rise is indicated until a new top pivot has been found. Mexico Equity and Income Fund Inc (The) 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Mexico Equity and Income Fund Inc (The) 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 $11.23. On a fall, the stock will find some support from the short-term average at $10.86. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Mexico Equity and Income Fund Inc (The) stock
Mexico Equity and Income Fund Inc (The) finds support from accumulated volume at $11.00 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 $0.230 between high and low, or 2.12%. For the last week, the stock has had daily average volatility of 1.05%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MXE) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Mexico Equity and Income Fund Inc (The) to open at $10.98, and during the day (based on 14 day Average True Range), to move between $10.88 and $11.18, which gives a possible trading interval of +/-$0.151 (+/-1.37%) up or down from last closing price. If Mexico Equity and Income Fund Inc (The) takes out the full calculated possible swing range there will be an estimated 2.74% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $11.00 (0.27%) than the resistance at $11.07 (0.36%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Mexico Equity and Income Fund Inc (The) stock A Buy?
Mexico Equity and Income Fund Inc (The) 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: -1.172 Sell Candidate Unchanged
Predicted Opening Price for Mexico Equity and Income Fund Inc (The) of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $10.98 ( 0.454%) | $11.03 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MXE
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.21 | 1.63 % | |
| R2 | 11.12 | 0.83 % | ||
| R1 | 11.07 | 0.343 % | ||
| Current price: | 11.03 | |||
| Support | S1 | 10.89 | -1.25 % | |
| S2 | 10.84 | -1.74 % | ||
| S3 | 10.75 | -2.54 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.56 | 4.80 % | |
| R2 | 11.15 | 1.10 % | ||
| R1 | 11.07 | 0.362 % | ||
| Current price | 11.03 | |||
| Support | S1 | 11.00 | -0.273% | |
| S2 | 10.97 | -0.545% | ||
| S3 | 10.74 | -2.63% |
MXE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 18, 2023 | Dec 27, 2023 | Jan 05, 2024 | $0.301 | 2.73% |
| 2 | Dec 10, 2019 | Dec 18, 2019 | Dec 28, 2018 | $0.120 | 1.20% |
| 3 | Dec 10, 2018 | Dec 18, 2018 | Dec 28, 2018 | $0.0010 | 0.0100% |
| 4 | Dec 11, 2017 | Dec 18, 2017 | Dec 28, 2017 | $0.0480 | 0.475% |
| 5 | Dec 28, 2015 | Dec 28, 2015 | Dec 28, 2015 | $0.560 | 5.20% |
FAQ
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