Magazine Luiza S.A. Stock Forecast
Magazine Luiza S.A. stock upgraded to Hold/Accumulate.
(Updated on May 17, 2024)
No changes to the price of Magazine Luiza S.A. stock on the last trading day (Friday, 17th May 2024). During the last trading day the stock fluctuated 3.85% from a day low at R$1.56 to a day high of R$1.62. The price has risen in 5 of the last 10 days and is up by 1.27% over the past 2 weeks.
The stock lies the upper part of a very wide and falling 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 R$1.60 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -32.52% during the next 3 months and, with a 90% probability hold a price between R$0.81 and R$1.08 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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MGLU3.SA Signals & Forecast
The Magazine Luiza S.A. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately R$1.59. On a fall, the stock will find some support from the long-term average at approximately R$1.58. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 16.91%. 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). The volume rose on the last day while price remained unchanged. This may be an early warning and the stock should be watched closely.
Support, Risk & Stop-loss for Magazine Luiza S.A. stock
Magazine Luiza S.A. finds support from accumulated volume at R$1.54 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 R$0.0600 between high and low, or 3.85%. For the last week, the stock has had daily average volatility of 4.63%.
Our recommended stop-loss: R$1.53 (-3.78%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (MGLU3.SA) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Magazine Luiza S.A. to open at R$1.59, and during the day (based on 14 day Average True Range), to move between R$1.50 and R$1.68, which gives a possible trading interval of +/-R$0.0934 (+/-5.87%) up or down from last closing price. If Magazine Luiza S.A. takes out the full calculated possible swing range there will be an estimated 11.75% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at R$1.54 (3.14%) than the resistance at R$1.78 (11.95%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Magazine Luiza S.A. stock A Buy?
Magazine Luiza S.A. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.363 Hold/Accumulate Upgraded
Predicted Opening Price for Magazine Luiza S.A. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| R$1.59 ( 0%) | R$1.59 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MGLU3.SA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.65 | 3.77 % | |
| R2 | 1.63 | 2.33 % | ||
| R1 | 1.61 | 1.44 % | ||
| Current price: | 1.59 | |||
| Support | S1 | 1.57 | -1.44 % | |
| S2 | 1.55 | -2.33 % | ||
| S3 | 1.53 | -3.77 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.97 | 23.90 % | |
| R2 | 1.96 | 23.27 % | ||
| R1 | 1.78 | 11.95 % | ||
| Current price | 1.59 | |||
| Support | S1 | 1.54 | -3.14% | |
| S2 | 1.53 | -3.77% | ||
| S3 | 1.52 | -4.40% |
MGLU3 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 06, 2021 | Jul 06, 2021 | Jul 06, 2021 | R$0.0155 | 0.0735% |
| 2 | Dec 30, 2020 | Dec 30, 2020 | Dec 30, 2020 | R$0.0263 | 0.105% |
| 3 | Jul 31, 2020 | Jul 31, 2020 | Jul 31, 2020 | R$0.0235 | 0.117% |
| 4 | Apr 14, 2020 | Apr 14, 2020 | Apr 14, 2020 | R$0.180 | 1.67% |
| 5 | Jan 02, 2020 | Jan 02, 2020 | Jan 02, 2020 | R$0.0089 | 0.0725% |
FAQ
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