Macquarie Telecom Group Ltd Stock Forecast
Red day on Thursday for Macquarie Telecom Group Ltd
(Updated on Jun 27, 2024)
The Macquarie Telecom Group Ltd stock price fell by -0.140% on the last day (Thursday, 27th Jun 2024) from A$92.89 to A$92.76. During the last trading day the stock fluctuated 1.89% from a day low at A$91.04 to a day high of A$92.76. The price has fallen in 7 of the last 10 days but is still up by 4.53% over the past 2 weeks. Volume has increased on the last day by 43 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 79 thousand shares were bought and sold for approximately A$7.32 million.
The stock lies in the upper part of a strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at A$93.42 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 15.86% during the next 3 months and, with a 90% probability hold a price between A$99.35 and A$108.23 at the end of this 3-month period.
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MAQ.AX Signals & Forecast
The Macquarie Telecom Group Ltd stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at A$91.10 and A$88.32. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, June 25, 2024, and so far it has fallen -0.247%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. The stock had a Golden Star Signal on Thursday, December 14, 2023 in the long-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 12 Months
The stock had a Golden Star Signal on Thursday, December 14, 2023 in the long-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 Macquarie Telecom Group Ltd stock
Macquarie Telecom Group Ltd finds support from accumulated volume at A$91.20 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 A$1.72 between high and low, or 1.89%. For the last week, the stock has had daily average volatility of 2.43%.
Our recommended stop-loss: A$90.38 (-2.56%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 21 days ago.)
Trading Expectations (MAQ.AX) For The Upcoming Trading Day Of Friday 28th
For the upcoming trading day on Friday, 28th we expect Macquarie Telecom Group Ltd to open at A$92.19, and during the day (based on 14 day Average True Range), to move between A$90.61 and A$94.91, which gives a possible trading interval of +/-A$2.15 (+/-2.32%) up or down from last closing price. If Macquarie Telecom Group Ltd takes out the full calculated possible swing range there will be an estimated 4.64% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at A$92.89 (0.14%) than the support at A$91.20 (1.68%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Macquarie Telecom Group Ltd stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Macquarie Telecom Group Ltd stock to perform well in the short-term.
Current score: 2.745 Buy Candidate Unchanged
Predicted Opening Price for Macquarie Telecom Group Ltd of Friday, June 28, 2024
| Fair opening price June 28, 2024 | Current price |
|---|---|
| A$92.19 ( 0.618%) | A$92.76 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MAQ.AX
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 93.91 | 1.24% |
| R2 | 93.25 | 0.528% |
| R1 | 92.84 | 0.0902% |
| Price | 92.76 | |
| S1 | 91.53 | -1.33% |
| S2 | 91.12 | -1.76% |
| S3 | 90.47 | -2.47% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 92.99 | 0.248% |
| R1 | 92.89 | 0.140% |
| Price | 92.76 | |
| S1 | 91.20 | -1.68% |
| S2 | 91.01 | -1.89% |
| S3 | 90.08 | -2.89% |
MAQ Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 29, 2018 | Sep 27, 2018 | Oct 25, 2018 | A$0.250 | 1.17% |
| 2 | Feb 27, 2018 | Mar 28, 2018 | Apr 24, 2018 | A$0.250 | 1.36% |
| 3 | Aug 30, 2017 | Sep 28, 2017 | Oct 18, 2017 | A$0.175 | 1.21% |
| 4 | Feb 27, 2017 | Mar 30, 2017 | Apr 18, 2017 | A$0.250 | 1.95% |
| 5 | Aug 25, 2016 | Sep 13, 2016 | Oct 12, 2016 | A$0.250 | 2.03% |
FAQ
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