Metro Inc. Stock Forecast
Green day on Monday for Metro Inc. stock after gaining 0.581%
(Updated on May 06, 2024)
The Metro Inc. stock price gained 0.581% on the last trading day (Monday, 6th May 2024), rising from $72.33 to $72.75. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 0.91% from a day low at $72.18 to a day high of $72.84. The price has risen in 6 of the last 10 days and is up by 4.57% 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, 84 thousand more shares were traded than the day before. In total, 494 thousand shares were bought and sold for approximately $35.93 million.
The stock is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Metro Inc. stock with a 90% probability to be traded between $68.44 and $72.97 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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MRU.TO Signals & Forecast
Mostly positive signals in the chart today. The Metro Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $71.30 and $71.40. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 4.57%. 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. The stock had a Golden Star Signal on Wednesday, February 14, 2024 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Wednesday, February 14, 2024 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Metro Inc. stock
Metro Inc. finds support from accumulated volume at $71.70 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 $0.660 between high and low, or 0.91%. For the last week the stock has had daily average volatility of 1.34%.
Our recommended stop-loss: $69.36 (-4.67%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 10 days ago.)
Trading Expectations (MRU.TO) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Metro Inc. to open at $72.59, and during the day (based on 14 day Average True Range), to move between $71.71 and $73.79, which gives a possible trading interval of +/-$1.04 (+/-1.43%) up or down from last closing price. If Metro Inc. takes out the full calculated possible swing range there will be an estimated 2.86% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $73.48 (1.00%) than the support at $71.70 (1.44%), 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 Metro Inc. stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Metro Inc. stock to perform well in the short-term period.
Current score: 3.243 Buy Candidate Unchanged
Predicted Opening Price for Metro Inc. of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| $72.59 ( 0.220%) | $72.75 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MRU.TO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 73.25 | 0.687 % | |
| R2 | 73.00 | 0.341 % | ||
| R1 | 72.84 | 0.127 % | ||
| Current price: | 72.75 | |||
| Support | S1 | 72.34 | -0.566 % | |
| S2 | 72.18 | -0.781 % | ||
| S3 | 71.93 | -1.13 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 74.08 | 1.83 % | |
| R2 | 73.92 | 1.61 % | ||
| R1 | 73.48 | 1.00 % | ||
| Current price | 72.75 | |||
| Support | S1 | 71.70 | -1.44% | |
| S2 | 71.23 | -2.09% | ||
| S3 | 71.02 | -2.38% |
MRU Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 14, 2024 | May 14, 2024 | Jun 04, 2024 | $0.335 | 0.460% |
| 2 | Jan 30, 2024 | Feb 14, 2024 | Mar 12, 2024 | $0.335 | 0.450% |
| 3 | Oct 26, 2023 | Oct 26, 2023 | Nov 14, 2023 | $0.303 | 0.400% |
| 4 | Aug 09, 2023 | Aug 29, 2023 | Sep 20, 2023 | $0.303 | 0.419% |
| 5 | May 09, 2023 | May 09, 2023 | May 30, 2023 | $0.303 | 0.418% |
FAQ
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