Macquarie Group Limited Stock Forecast
Macquarie Group Limited stock downgraded to Sell Candidate
(Updated on May 17, 2024)
The Macquarie Group Limited stock price fell by -1.28% on the last day (Friday, 17th May 2024) from $193.34 to $190.86. During the last trading day the stock fluctuated 0.784% from a day low at $190.11 to a day high of $191.60. The price has been going up and down for this period, and there has been a 3.82% gain for the last 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 -111 thousand shares and in total, 810 thousand shares were bought and sold for approximately $154.65 million.
The stock lies the upper part of a 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 $193.20 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 -4.16% during the next 3 months and, with a 90% probability hold a price between $173.20 and $185.16 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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MQG.AX Signals & Forecast
The Macquarie Group Limited 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 $190.92. On a fall, the stock will find some support from the long-term average at approximately $190.09. 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. 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, May 16, 2024, and so far it has fallen -1.28%. 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 Macquarie Group Limited stock
Macquarie Group Limited finds support from accumulated volume at $190.07 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $1.49 between high and low, or 0.784%. For the last week the stock has had daily average volatility of 1.61%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MQG.AX) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Macquarie Group Limited to open at $190.86, and during the day (based on 14 day Average True Range), to move between $187.39 and $194.33, which gives a possible trading interval of +/-$3.47 (+/-1.82%) up or down from last closing price. If Macquarie Group Limited takes out the full calculated possible swing range there will be an estimated 3.64% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $190.07 (0.41%) than the resistance at $193.34 (1.30%), 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
Macquarie Group Limited will release earnings BMO on Saturday, May 25, 2024.The consensus among the analysts for the expected earnings (EPS) is $3.71. We will update the financials statements for Macquarie Group Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.36% in the first trading day after earnings release.
Is Macquarie Group Limited stock A Buy?
Macquarie Group Limited holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.
Current score: -3.344 Sell Candidate Downgraded
Predicted Opening Price for Macquarie Group Limited of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $190.86 ( 0.0017%) | $190.86 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MQG.AX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 192.35 | 0.779 % | |
| R2 | 191.78 | 0.481 % | ||
| R1 | 191.43 | 0.296 % | ||
| Current price: | 190.86 | |||
| Support | S1 | 190.29 | -0.300 % | |
| S2 | 189.94 | -0.484 % | ||
| S3 | 189.37 | -0.782 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 199.00 | 4.26 % | |
| R2 | 197.71 | 3.59 % | ||
| R1 | 193.34 | 1.30 % | ||
| Current price | 190.86 | |||
| Support | S1 | 190.07 | -0.414% | |
| S2 | 183.83 | -3.68% | ||
| S3 | 183.33 | -3.95% |
MQG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 13, 2024 | May 13, 2024 | Jul 02, 2024 | $7.70 | 4.05% |
| 2 | Nov 13, 2023 | Nov 13, 2023 | Nov 13, 2023 | $0 | 0% |
| 3 | May 15, 2023 | May 15, 2023 | May 15, 2023 | $4.50 | 2.57% |
| 4 | Nov 07, 2022 | Nov 07, 2022 | Nov 07, 2022 | $3.00 | 1.78% |
| 5 | May 16, 2022 | May 16, 2022 | May 16, 2022 | $3.50 | 1.95% |
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