Migdal Insurance & Financial Holdings Stock Forecast
Red day on Thursday for Migdal Insurance & Financial Holdings
(Updated on May 16, 2024)
The Migdal Insurance & Financial Holdings stock price fell by -4.85% on the last day (Thursday, 16th May 2024) from ₪495.00 to ₪471.00. During the last trading day the stock fluctuated 5.34% from a day low at ₪469.90 to a day high of ₪495.00. The price has fallen in 5 of the last 10 days and is down by -1.26% for this period. Volume has increased on the last day by 334 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, 2 million shares were bought and sold for approximately ₪783.35 million.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ₪464.16 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 6.58% during the next 3 months and, with a 90% probability hold a price between ₪494.72 and ₪575.37 at the end of this 3-month period.
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MGDL.TA Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 3.47%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Migdal Insurance & Financial Holdings 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 ₪482.51 and ₪486.91. A break-up above any of these levels will issue buy signals. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Migdal Insurance & Financial Holdings stock
Migdal Insurance & Financial Holdings finds support from accumulated volume at ₪468.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ₪25.10 (5.34%) between high and low. For the last week, the stock has had daily average volatility of 2.41%.
Our recommended stop-loss: ₪448.39 (-4.80%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 18 days ago.)
Trading Expectations (MGDL.TA) For The Upcoming Trading Day Of Friday 17th
For the upcoming trading day on Friday, 17th we expect Migdal Insurance & Financial Holdings Ltd. to open at ₪478.63, and during the day (based on 14 day Average True Range), to move between ₪458.10 and ₪483.90, which gives a possible trading interval of +/-₪12.90 (+/-2.74%) up or down from last closing price. If Migdal Insurance & Financial Holdings Ltd. takes out the full calculated possible swing range there will be an estimated 5.48% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₪472.10 (0.23%) than the support at ₪468.00 (0.64%), 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 Migdal Insurance & Financial Holdings Ltd. stock A Buy?
Migdal Insurance & Financial Holdings holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.420 Hold/Accumulate Unchanged
Predicted Opening Price for Migdal Insurance & Financial Holdings Ltd. of Friday, May 17, 2024
| Fair opening price May 17, 2024 | Current price |
|---|---|
| ₪478.63 ( 1.62%) | ₪471.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MGDL.TA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 503.73 | 6.95 % | |
| R2 | 494.15 | 4.91 % | ||
| R1 | 488.22 | 3.66 % | ||
| Current price: | 471.00 | |||
| Support | S1 | 469.05 | -0.415 % | |
| S2 | 463.12 | -1.67 % | ||
| S3 | 453.53 | -3.71 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 521.00 | 10.62 % | |
| R2 | 509.00 | 8.07 % | ||
| R1 | 472.10 | 0.234 % | ||
| Current price | 471.00 | |||
| Support | S1 | 468.00 | -0.637% | |
| S2 | 465.00 | -1.27% | ||
| S3 | 462.00 | -1.91% |
MGDL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 18, 2023 | Dec 18, 2023 | Dec 18, 2023 | ₪0 | 0% |
| 2 | May 01, 2023 | May 01, 2023 | May 01, 2023 | ₪3.04 | 0.757% |
| 3 | Oct 26, 2021 | Oct 26, 2021 | Oct 26, 2021 | ₪4.46 | 0.83% |
| 4 | Aug 01, 2019 | Aug 01, 2019 | Aug 01, 2019 | ₪33.21 | 8.52% |
| 5 | Aug 21, 2018 | Aug 21, 2018 | Aug 21, 2018 | ₪6.26 | 1.70% |
FAQ
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