MFM's Indicator enters downward trend
The Aroon Indicator for MFM entered a downward trend on September 29, 2023. Tickeron's A.I.dvisor identified a pattern where the AroonDown red line was above 70 while the AroonUp green line was below 30 for three straight days. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options. A.I.dvisor looked at 141 similar instances where the Aroon Indicator formed such a pattern. In of the 141 cases the stock moved lower. This puts the odds of a downward move at .
Technical Analysis (Indicators)
Bearish Trend Analysis
The Momentum Indicator moved below the 0 level on August 24, 2023. You may want to consider selling the stock, shorting the stock, or exploring put options on MFM as a result. In of 80 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .
MFM moved below its 50-day moving average on August 24, 2023 date and that indicates a change from an upward trend to a downward trend.
The 50-day moving average for MFM moved below the 200-day moving average on September 20, 2023. This could be a long-term bearish signal for the stock as the stock shifts to an downward trend.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where MFM declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
Bullish Trend Analysis
The RSI Indicator shows that the ticker has stayed in the oversold zone for 6 days. The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an Uptrend is expected.
The Stochastic Oscillator shows that the ticker has stayed in the oversold zone for 22 days. The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an upward trend is expected.
MFM may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
Fundamental Analysis (Ratings)
Industry description
General Information
Category Unknown
MFM and
Correlation & Price change
A.I.dvisor indicates that over the last year, MFM has been loosely correlated with NZF. These tickers have moved in lockstep 54% of the time. This A.I.-generated data suggests there is some statistical probability that if MFM jumps, then NZF could also see price increases.