Migros Ticaret A.S. Stock Forecast
Stronger technical forecast for Migros Ticaret A.S. stock price after Thursday trading.
(Updated on May 09, 2024)
The Migros Ticaret A.S. stock price gained 4.54% on the last trading day (Thursday, 9th May 2024), rising from TRY 452.00 to TRY 472.50. During the last trading day the stock fluctuated 5.28% from a day low at TRY 450.00 to a day high of TRY 473.75. The price has risen in 6 of the last 10 days and is up by 10.4% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 345 thousand more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately TRY 1.37 billion.
The stock lies the upper part of a 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 TRY 478.98 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 -6.86% during the next 3 months and, with a 90% probability hold a price between TRY 366.06 and TRY 446.11 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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MGROS.IS Signals & Forecast
Mostly positive signals in the chart today. The Migros Ticaret A.S. 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 TRY 458.36 and TRY 440.60. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, March 28, 2024, and so far it has risen 15.74%. 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 is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Migros Ticaret A.S. stock
Migros Ticaret A.S. finds support from accumulated volume at TRY 470.00 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 TRY 23.75 between high and low, or 5.28%. For the last week, the stock has had daily average volatility of 4.17%.
Our recommended stop-loss: TRY 453.76 (-3.97%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 25 days ago.)
Trading Expectations (MGROS.IS) For The Upcoming Trading Day Of Friday 10th
For the upcoming trading day on Friday, 10th we expect Migros Ticaret A.S. to open at TRY 465.42, and during the day (based on 14 day Average True Range), to move between TRY 456.94 and TRY 488.06, which gives a possible trading interval of +/-TRY 15.56 (+/-3.29%) up or down from last closing price. If Migros Ticaret A.S. takes out the full calculated possible swing range there will be an estimated 6.59% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at TRY 470.00 (0.53%) than the resistance at TRY 476.00 (0.74%), 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
Migros Ticaret A.S. will release earnings BMO on Friday, May 10, 2024. We will update the financials statements for Migros Ticaret A.S., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.32% in the first trading day after earnings release.
Is Migros Ticaret A.S. stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 3.429 Buy Candidate Upgraded
Predicted Opening Price for Migros Ticaret A.S. of Friday, May 10, 2024
| Fair opening price May 10, 2024 | Current price |
|---|---|
| TRY 465.42 ( 1.50%) | TRY 472.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MGROS.IS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 489.17 | 3.53 % | |
| R2 | 480.09 | 1.61 % | ||
| R1 | 474.49 | 0.421 % | ||
| Current price: | 472.50 | |||
| Support | S1 | 456.34 | -3.42 % | |
| S2 | 450.74 | -4.61 % | ||
| S3 | 441.67 | -6.53 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 493.25 | 4.39 % | |
| R2 | 476.50 | 0.85 % | ||
| R1 | 476.00 | 0.741 % | ||
| Current price | 472.50 | |||
| Support | S1 | 470.00 | -0.529% | |
| S2 | 452.00 | -4.34% | ||
| S3 | 443.75 | -6.08% |
MGROS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 27, 2024 | May 27, 2024 | May 29, 2024 | TRY 6.90 | 1.47% |
| 2 | May 30, 2023 | May 30, 2023 | May 30, 2023 | TRY 2.61 | 1.50% |
| 3 | May 28, 2010 | May 28, 2010 | May 28, 2010 | TRY 1.10 | 4.04% |
| 4 | Aug 04, 2009 | Aug 04, 2009 | Aug 04, 2009 | TRY 14.00 | 75.27% |
| 5 | May 01, 2008 | May 01, 2008 | May 01, 2008 | TRY 0.593 | 2.96% |
FAQ
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