Metro Brands Limited Stock Forecast
Evaluation of Metro Brands Limited stock downgraded after the last trading session.
(Updated on Jun 21, 2024)
The Metro Brands Limited stock price fell by -2.38% on the last day (Friday, 21st Jun 2024) from ₹1,291.60 to ₹1,260.80. During the last trading day the stock fluctuated 4.77% from a day low at ₹1,249.15 to a day high of ₹1,308.75. The price has fallen in 6 of the last 10 days but is still up by 8.42% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -31 thousand shares and in total, 11 thousand shares were bought and sold for approximately ₹13.46 million.
The stock lies in the upper part of a wide and weak 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 ₹1,293.62 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 9.80% during the next 3 months and, with a 90% probability hold a price between ₹1,194.94 and ₹1,420.35 at the end of this 3-month period.
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METROBRAND.BO Signals & Forecast
The Metro Brands Limited 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 ₹1,205.94 and ₹1,133.93. 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 Thursday, June 20, 2024, and so far it has fallen -2.38%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Metro Brands Limited stock
Metro Brands Limited finds support from accumulated volume at ₹1,251.50 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 ₹59.60 between high and low, or 4.77%. For the last week, the stock has had daily average volatility of 7.19%.
Our recommended stop-loss: ₹1,208.99 (-4.11%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 29 days ago.)
Trading Expectations (METROBRAND.BO) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Metro Brands Limited to open at ₹1,272.90, and during the day (based on 14 day Average True Range), to move between ₹1,204.24 and ₹1,317.36, which gives a possible trading interval of +/-₹56.56 (+/-4.49%) up or down from last closing price. If Metro Brands Limited takes out the full calculated possible swing range there will be an estimated 8.97% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹1,251.50 (0.74%) than the resistance at ₹1,291.60 (2.44%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Metro Brands Limited 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 Metro Brands Limited stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 2.795 Buy Candidate Downgraded
Predicted Opening Price for Metro Brands Limited of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| ₹1,272.90 ( 0.96%) | ₹1,260.80 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for METROBRAND.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1,332.50 | 5.69% |
| R2 | 1,309.73 | 3.88% |
| R1 | 1,295.67 | 2.77% |
| Price | 1,260.80 | |
| S1 | 1,250.13 | -0.85% |
| S2 | 1,236.07 | -1.96% |
| S3 | 1,213.30 | -3.77% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 1,291.60 | 2.44% |
| Price | 1,260.80 | |
| S1 | 1,251.50 | -0.738% |
| S2 | 1,149.70 | -8.81% |
| S3 | 1,075.45 | -14.70% |
METROBRAND Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 31, 2024 | Jan 31, 2024 | Feb 17, 2024 | ₹2.75 | 0.247% |
| 2 | Sep 01, 2023 | Sep 01, 2023 | Oct 13, 2023 | ₹1.50 | 0.131% |
| 3 | Jan 27, 2023 | Jan 27, 2023 | Feb 16, 2023 | ₹2.50 | 0.297% |
FAQ
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