Matas A/S Stock Forecast
Matas A/S stock upgraded from Buy Candidate to Strong Buy Candidate after Tuesday trading session.
(Updated on May 28, 2024)
The Matas A/S stock price gained 1.13% on the last trading day (Tuesday, 28th May 2024), rising from kr123.60 to kr125.00. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 4.00% from a day low at kr125.00 to a day high of kr130.00. The price has risen in 7 of the last 10 days and is up by 5.75% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 280 thousand more shares were traded than the day before. In total, 384 thousand shares were bought and sold for approximately kr48.03 million.
Given the current horizontal trend, you can expect Matas A/S stock with a 90% probability to be traded between kr109.92 and kr125.24 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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MATAS.CO Signals & Forecast
Mostly positive signals in the chart today. The Matas A/S 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 kr121.51 and kr115.47. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 14.05%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Matas A/S stock
Matas A/S finds support from accumulated volume at kr119.40 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 kr5.00 between high and low, or 4.00%. For the last week, the stock has had daily average volatility of 2.62%.
The Matas A/S stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: kr120.75 (-3.40%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 80 and this increases the risk substantially. There is a buy signal from a pivot bottom found 46 days ago.)
Trading Expectations (MATAS.CO) For The Upcoming Trading Day Of Wednesday 29th
For the upcoming trading day on Wednesday, 29th we expect Matas A/S to open at kr126.67, and during the day (based on 14 day Average True Range), to move between kr122.47 and kr127.53, which gives a possible trading interval of +/-kr2.53 (+/-2.02%) up or down from last closing price. If Matas A/S takes out the full calculated possible swing range there will be an estimated 4.05% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ kr119.40, some kr5.60 (4.48%) from the current price of kr125.00, our system finds the risk reward attractive.
Earnings coming up
Is Matas A/S stock A Buy?
Matas A/S holds several positive signals and is considered to be a good choice at current levels. We expect the Matas A/S stock to perform great in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.790 Strong Buy Candidate Upgraded
Predicted Opening Price for Matas A/S of Wednesday, May 29, 2024
| Fair opening price May 29, 2024 | Current price |
|---|---|
| kr126.67 ( 1.33%) | kr125.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MATAS.CO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 131.67 | 5.33 % | |
| R2 | 129.76 | 3.81 % | ||
| R1 | 128.58 | 2.86 % | ||
| Current price: | 125.00 | |||
| Support | S1 | 124.76 | -0.195 % | |
| S2 | 123.58 | -1.14 % | ||
| S3 | 121.67 | -2.67 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 125.00 | |||
| Support | S1 | 119.40 | -4.48% | |
| S2 | 118.20 | -5.44% | ||
| S3 | 117.40 | -6.08% |
MATAS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 30, 2023 | Jun 30, 2023 | Jun 30, 2023 | kr2.00 | 1.99% |
| 2 | Jun 29, 2022 | Jun 29, 2022 | Jun 29, 2022 | kr2.00 | 2.63% |
| 3 | Jun 30, 2021 | Jun 30, 2021 | Jun 30, 2021 | kr2.00 | 1.76% |
| 4 | Jun 28, 2019 | Jun 28, 2019 | Jun 28, 2019 | kr3.00 | 4.21% |
| 5 | Jun 29, 2018 | Jun 29, 2018 | Jun 29, 2018 | kr6.30 | 12.16% |
FAQ
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