Megacable Holdings, S. A. B. de C. V. Stock Forecast
Green day on Thursday for Megacable Holdings, S. A. B. de C. V.
(Updated on May 09, 2024)
The Megacable Holdings, S. A. B. de C. V. stock price gained 3.23% on the last trading day (Thursday, 9th May 2024), rising from $51.41 to $53.07. 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 4.22% from a day low at $51.41 to a day high of $53.58. The price has risen in 5 of the last 10 days and is up by 5.15% over the past 2 weeks. Volume fell on the last day by -458 thousand shares and in total, 798 thousand shares were bought and sold for approximately $42.36 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 middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 17.36% during the next 3 months and, with a 90% probability hold a price between $58.45 and $64.29 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
MEGACPO.MX Signals & Forecast
Mostly positive signals in the chart today. The Megacable Holdings, S. A. B. de C. V. 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 $50.97 and $49.53. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 8.88%. 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 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.
Support, Risk & Stop-loss for Megacable Holdings, S. A. B. de C. V. stock
Megacable Holdings, S. A. B. de C. V. finds support from accumulated volume at $50.60 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $2.17 between high and low, or 4.22%. For the last week the stock has had daily average volatility of 2.72%.
Our recommended stop-loss: $50.81 (-4.25%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 15 days ago.)
Trading Expectations (MEGACPO.MX) For The Upcoming Trading Day Of Friday 10th
For the upcoming trading day on Friday, 10th we expect Megacable Holdings, S. A. B. de C. V. to open at $52.69, and during the day (based on 14 day Average True Range), to move between $51.38 and $54.76, which gives a possible trading interval of +/-$1.69 (+/-3.18%) up or down from last closing price. If Megacable Holdings, S. A. B. de C. V. takes out the full calculated possible swing range there will be an estimated 6.35% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $50.60, some $2.47 (4.65%) from the current price of $53.07, our system finds the risk reward attractive.
Is Megacable Holdings, S. A. B. de C. V. stock A Buy?
Megacable Holdings, S. A. B. de C. V. holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
Current score: 8.109 Strong Buy Candidate Unchanged
Predicted Opening Price for Megacable Holdings, S. A. B. de C. V. of Friday, May 10, 2024
| Fair opening price May 10, 2024 | Current price |
|---|---|
| $52.69 ( 0.722%) | $53.07 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MEGACPO.MX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 54.86 | 3.37 % | |
| R2 | 54.03 | 1.80 % | ||
| R1 | 53.52 | 0.84 % | ||
| Current price: | 53.07 | |||
| Support | S1 | 51.86 | -2.28 % | |
| S2 | 51.35 | -3.25 % | ||
| S3 | 50.52 | -4.81 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 53.07 | |||
| Support | S1 | 50.60 | -4.65% | |
| S2 | 49.50 | -6.73% | ||
| S3 | 48.14 | -9.29% |
MEGACPO Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 23, 2023 | May 23, 2023 | May 23, 2023 | $2.96 | 6.92% |
| 2 | May 24, 2022 | May 24, 2022 | May 24, 2022 | $2.82 | 5.09% |
| 3 | May 18, 2021 | May 18, 2021 | May 18, 2021 | $2.56 | 3.55% |
| 4 | May 25, 2020 | May 25, 2020 | May 25, 2020 | $1.78 | 2.70% |
| 5 | May 24, 2019 | May 24, 2019 | May 24, 2019 | $2.18 | 2.70% |
FAQ
Click here for our free guide on how to buy Megacable Holdings, S. A. B. de C. V. Stock.
