Marfrig Global Foods S.A. Stock Forecast
Weaker technical forecast for Marfrig Global Foods S.A. as stock downgraded to Sell Candidate.
(Updated on May 03, 2024)
The Marfrig Global Foods S.A. stock price gained 0.526% on the last trading day (Friday, 3rd May 2024), rising from R$9.51 to R$9.56. During the last trading day the stock fluctuated 2.62% from a day low at R$9.53 to a day high of R$9.78. The price has been going up and down for this period, and there has been a -2.45% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 million more shares were traded than the day before. In total, 7 million shares were bought and sold for approximately R$63.36 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 R$9.27 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 9.19% during the next 3 months and, with a 90% probability hold a price between R$10.12 and R$12.10 at the end of this 3-month period.
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MRFG3.SA Signals & Forecast
Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Marfrig Global Foods S.A. 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 R$9.59 and R$9.94. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 09, 2024, and so far it has fallen -11.56%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Marfrig Global Foods S.A. stock
Marfrig Global Foods S.A. finds support from accumulated volume at R$9.53 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$0.250 between high and low, or 2.62%. For the last week, the stock has had daily average volatility of 1.81%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MRFG3.SA) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Marfrig Global Foods S.A. to open at R$9.62, and during the day (based on 14 day Average True Range), to move between R$9.25 and R$9.87, which gives a possible trading interval of +/-R$0.309 (+/-3.24%) up or down from last closing price. If Marfrig Global Foods S.A. takes out the full calculated possible swing range there will be an estimated 6.47% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at R$9.59 (0.31%) than the support at R$9.53 (0.31%), 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 Marfrig Global Foods S.A. stock A Buy?
The Marfrig Global Foods S.A. stock holds several negative signals and despite the positive trend, we believe Marfrig Global Foods S.A. will perform weakly in the next couple of days or weeks. Therefore, we 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 Hold/Accumulate to a Sell candidate.
Current score: -2.922 Sell Candidate Downgraded
Predicted Opening Price for Marfrig Global Foods S.A. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| R$9.62 ( 0.662%) | R$9.56 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MRFG3.SA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.87 | 3.28 % | |
| R2 | 9.78 | 2.28 % | ||
| R1 | 9.72 | 1.66 % | ||
| Current price: | 9.56 | |||
| Support | S1 | 9.53 | -0.336 % | |
| S2 | 9.47 | -0.95 % | ||
| S3 | 9.37 | -1.95 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.31 | 7.85 % | |
| R2 | 9.72 | 1.67 % | ||
| R1 | 9.59 | 0.314 % | ||
| Current price | 9.56 | |||
| Support | S1 | 9.53 | -0.314% | |
| S2 | 9.42 | -1.46% | ||
| S3 | 8.68 | -9.21% |
MRFG3 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 20, 2022 | Dec 20, 2022 | Dec 20, 2022 | R$0.91 | 13.30% |
| 2 | Aug 22, 2022 | Aug 22, 2022 | Aug 22, 2022 | R$0.758 | 5.18% |
| 3 | Apr 14, 2022 | Apr 14, 2022 | Apr 14, 2022 | R$0.580 | 2.94% |
| 4 | Apr 13, 2022 | Apr 13, 2022 | Apr 13, 2022 | R$0.577 | 2.84% |
| 5 | Dec 22, 2021 | Dec 22, 2021 | Dec 22, 2021 | R$1.25 | 5.73% |
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