Metro Performance Glass Limited Stock Forecast
Red day on Thursday for Metro Performance Glass Limited stock after losing 1.27%
(Updated on Jun 27, 2024)
The Metro Performance Glass Limited stock price fell by -1.27% on the last day (Thursday, 27th Jun 2024) from $0.0790 to $0.0780. During the last trading day the stock fluctuated 1.28% from a day low at $0.0780 to a day high of $0.0790. The price has risen in 5 of the last 10 days and is up by 20% over the past 2 weeks. Volume has increased on the last day by 147 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, 161 thousand shares were bought and sold for approximately $12.54 thousand.
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 $0.0782 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 -38.15% during the next 3 months and, with a 90% probability hold a price between $0.0339 and $0.0484 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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MPG.NZ Signals & Forecast
The Metro Performance Glass 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 $0.0746 and $0.0716. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, June 10, 2024, and so far it has risen 20.00%. 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. Metro Performance Glass Limited gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Metro Performance Glass Limited stock
Metro Performance Glass Limited finds support from accumulated volume at $0.0750 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 $0.0010 between high and low, or 1.28%. For the last week, the stock has had daily average volatility of 1.88%.
The Metro Performance Glass Limited stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: $0.0759 (-2.64%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 88 and this increases the risk substantially. There is a buy signal from a pivot bottom found 24 days ago.)
Trading Expectations (MPG.NZ) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Metro Performance Glass Limited to open at $0.0783, and during the day (based on 14 day Average True Range), to move between $0.0763 and $0.0797, which gives a possible trading interval of +/-$0.0017 (+/-2.16%) up or down from last closing price. If Metro Performance Glass Limited takes out the full calculated possible swing range there will be an estimated 4.32% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0750 (3.85%) than the resistance at $0.0850 (8.97%), 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 Performance Glass Limited stock A Buy?
Metro Performance Glass Limited 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.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Metro Performance Glass Limited of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $0.0783 ( 0.427%) | $0.0780 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MPG.NZ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0793 | 1.71% |
| R2 | 0.0790 | 1.22% |
| R1 | 0.0787 | 0.92% |
| Price | 0.0780 | |
| S1 | 0.0780 | -0.0624% |
| S2 | 0.0777 | -0.365% |
| S3 | 0.0773 | -0.85% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0900 | 15.38% |
| R2 | 0.0890 | 14.10% |
| R1 | 0.0850 | 8.97% |
| Price | 0.0780 | |
| S1 | 0.0750 | -3.85% |
| S2 | 0.0700 | -10.26% |
| S3 | 0.0660 | -15.38% |
MPG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 06, 2018 | Jul 06, 2018 | Jul 06, 2018 | $0.0380 | 4.22% |
| 2 | Jan 08, 2018 | Jan 08, 2018 | Jan 08, 2018 | $0.0360 | 3.60% |
| 3 | Jul 06, 2017 | Jul 06, 2017 | Jul 06, 2017 | $0.0400 | 2.90% |
| 4 | Jan 06, 2017 | Jan 06, 2017 | Jan 06, 2017 | $0.0360 | 1.89% |
| 5 | Jul 07, 2016 | Jul 07, 2016 | Jul 07, 2016 | $0.0400 | 2.22% |
FAQ
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