Notable Move on Radar: Magellan High Conviction Trust (ASX:MHH.AX)

Investors are searching for easily tradable or highly liquid stocks, here we screened Magellan High Conviction Trust stock with recent volume of 349854 shares. Particularly for day traders, high volume is crucial, as the higher the volume the more liquid the stock is. Looking around last three track record, it holds trading capacity of 513689 shares on average basis. If you own a stock that has extremely low daily volume, it may be difficult to get free of in a short time period. MHH.AX registered activity of relative volume at 0.68.

Magellan High Conviction Trust (MHH.AX) belongs to Miscellaneous sector that received attractive attention from Investors and traders. It is going under observations and created a move of -2.00% at recent price at AUD$ 1.64 in last Trading session (Friday). Magellan High Conviction Trust stock price identified moved of 169.00% from its 52-week maximum price level and marked a change of 149.00% from its 52-week minimum price level. These 52-week values data help to compare its recent price with high or low prices inside a one-year framework.

MHH.AX

MHH.AX stock’s RSI is standing at 73.98. RSI is a momentum oscillator that measures the speed and change of price movements. The RSI oscillates between 0 and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30. When the RSI reading is between 30 and 0, the security is supposed to be oversold and ready for an upward correction. When the security reading is between 70 and 100, the security is supposed to be heavily bought and is ready for a downward correction.

The objective of using RSI is to help the trader identify over sold and overbought price areas. Overbought implies that the positive momentum in the stock is so high that it may not be sustainable for long and hence there could be a correction. Likewise, an oversold position indicates that the negative momentum is high leading to a possible reversal.

Magellan High Conviction Trust (MHH.AX) stock price is trading at distance of 157.91% from the its 50-Day SMA. SMA 50 is an average stock price from the last 50 days calculated as an unweighted mean of the previous 50 stock closing prices. The current stock price is moving with difference of 157.91% to its 200-Day SMA. Simple moving average of 200 days for a stock is an unweighted moving average over the past 200 days.

Posted in

Erik Richardson

Erik Richardson also covers the financial news across all market sectors. He also has an enormous knowledge of stock market.  Erik holds an MBA degree from University of Florida. He has more than 10 years of experience in writing financial and market news. He previously worked at a number of companies in different role including web developer, software engineer and product manager. He currently covers financial news section for our site.Address: 4658 Columbia Road, Wrangle Hill, DelawarePhone number: 302-838-9976Email: [email protected] 

Leave a Reply

Your email address will not be published. Required fields are marked *