Marfrig Global Foods S.A. Stock Forecast
Red day on Friday for Marfrig Global Foods S.A.
(Updated on Jun 14, 2024)
The Marfrig Global Foods S.A. stock price fell by -2.04% on the last day (Friday, 14th Jun 2024) from $1.96 to $1.92. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 0% from a day low at $1.92 to a day high of $1.92. The price has fallen in 6 of the last 10 days and is down by -5.88% for this period. Volume has increased on the last day by 511 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, 521 shares were bought and sold for approximately $1.00 thousand.
The stock lies in the lower part of a very 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 $1.87 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 6.37% during the next 3 months and, with a 90% probability hold a price between $1.99 and $2.50 at the end of this 3-month period.
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MRRTY Signals & Forecast
There are few to no technical positive signals at the moment. 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 $1.99 and $2.04. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 21, 2024, and so far it has fallen -16.88%. 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). Marfrig Global Foods S.A. 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 Marfrig Global Foods S.A. stock
Marfrig Global Foods S.A. finds support from accumulated volume at $1.89 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 between high and low, or 0%. For the last week, the stock has had daily average volatility of 0.301%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MRRTY) For The Upcoming Trading Day Of Monday 17th
For the upcoming trading day on Monday, 17th we expect Marfrig Global Foods S.A. to open at $1.92, and during the day (based on 14 day Average True Range), to move between $1.86 and $1.98, which gives a possible trading interval of +/-$0.0626 (+/-3.26%) 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 6.52% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.95 (1.30%) than the support at $1.89 (1.56%), 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.
Current score: -1.343 Sell Candidate Unchanged
Predicted Opening Price for Marfrig Global Foods S.A. of Monday, June 17, 2024
| Fair opening price June 17, 2024 | Current price |
|---|---|
| $1.92 ( 0%) | $1.92 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MRRTY
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.92 | - |
| R2 | 1.92 | - |
| R1 | 1.92 | - |
| Price | 1.92 | |
| S1 | 1.92 | - |
| S2 | 1.92 | - |
| S3 | 1.92 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 2.19 | 14.06% |
| R2 | 2.17 | 13.02% |
| R1 | 1.95 | 1.30% |
| Price | 1.92 | |
| S1 | 1.89 | -1.56% |
| S2 | 1.87 | -2.60% |
| S3 | 1.85 | -3.65% |
MRRTY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 03, 2023 | Sep 08, 2023 | Sep 18, 2023 | $0.0049 | 0.336% |
| 2 | Dec 20, 2022 | Dec 23, 2022 | Jan 04, 2023 | $0.161 | 9.76% |
| 3 | Aug 31, 2022 | Sep 01, 2022 | Sep 22, 2022 | $0.147 | 6.48% |
| 4 | Apr 14, 2022 | Apr 21, 2022 | Apr 29, 2022 | $0.123 | 3.12% |
| 5 | Dec 22, 2021 | Dec 29, 2021 | Jan 04, 2022 | $0.220 | 5.84% |
FAQ
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