Petro Matad Limited Stock Forecast
Big movements in Petro Matad Limited stock price on Friday moving 13.33% between high and low
(Updated on Apr 26, 2024)
The Petro Matad Limited stock price gained 3.39% on the last trading day (Friday, 26th Apr 2024), rising from £2.95 to £3.05. During the last trading day the stock fluctuated 13.33% from a day low at £3.00 to a day high of £3.40. The price has fallen in 6 of the last 10 days and is down by -27.38% for this period. Volume fell on the last day by -11 million shares and in total, 5 million shares were bought and sold for approximately £16.72 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at £2.96 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 13.11% during the next 3 months and, with a 90% probability hold a price between £3.35 and £4.91 at the end of this 3-month period.
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MATD.L Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 3.39%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Petro Matad Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at £3.53 and £3.84. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Petro Matad Limited stock
Petro Matad Limited finds support from accumulated volume at £3.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved £0.400 between high and low, or 13.33%. For the last week, the stock has had daily average volatility of 10.90%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MATD.L) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Petro Matad Limited to open at £3.15, and during the day (based on 14 day Average True Range), to move between £2.72 and £3.38, which gives a possible trading interval of +/-£0.334 (+/-10.95%) up or down from last closing price. If Petro Matad Limited takes out the full calculated possible swing range there will be an estimated 21.91% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £3.00 (1.64%) than the resistance at £3.35 (9.84%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Petro Matad Limited will release earnings BMO on Tuesday, April 30, 2024. We will update the financials statements for Petro Matad Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 17.31% in the first trading day after earnings release.
Is Petro Matad Limited stock A Buy?
The Petro Matad Limited stock holds several negative signals and despite the positive trend, we believe Petro Matad Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -3.096 Sell Candidate Upgraded
Predicted Opening Price for Petro Matad Limited of Monday, April 29, 2024
Fair opening price April 29, 2024 | Current price |
---|---|
£3.15 ( 3.28%) | £3.05 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MATD.L
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 3.55 | 16.39 % | |
R2 | 3.40 | 11.38 % | ||
R1 | 3.30 | 8.29 % | ||
Current price: | 3.05 | |||
Support | S1 | 3.00 | -1.73 % | |
S2 | 2.90 | -4.83 % | ||
S3 | 2.75 | -9.84 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 3.70 | 21.31 % | |
R2 | 3.45 | 13.11 % | ||
R1 | 3.35 | 9.84 % | ||
Current price | 3.05 | |||
Support | S1 | 3.00 | -1.64% | |
S2 | 2.95 | -3.28% | ||
S3 | 2.80 | -8.20% |
FAQ
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