Made Tech Group Plc Stock Forecast

Volatile ride for Made Tech Group Plc stock price on Friday moving between £16.00 and £18.44
(Updated on Jun 28, 2024)

MTEC.L Signals & Forecast

The Made Tech Group Plc 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 £15.17 and £15.99. A breakdown below any of these levels will issue sell signals. 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. 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 Tuesday, May 21, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for Made Tech Group Plc stock

On the downside, the stock finds support just below today's level from accumulated volume at £16.25 and £15.50. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Made Tech Group Plc finds support just below today's level at £16.25. If this is broken, then the next support from accumulated volume will be at £15.50 and £14.50.

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 £2.44 between high and low, or 15.25%. For the last week, the stock has had daily average volatility of 4.95%.

Our recommended stop-loss: £16.60 (-3.74%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 27 days ago.)

Trading Expectations (MTEC.L) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Made Tech Group Plc to open at £17.23, and during the day (based on 14 day Average True Range), to move between £16.36 and £18.14, which gives a possible trading interval of +/-£0.89 (+/-5.13%) up or down from last closing price. If Made Tech Group Plc takes out the full calculated possible swing range there will be an estimated 10.27% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ £16.25, some £1.00 (5.80%) from the current price of £17.25, our system finds the risk reward attractive.

Is Made Tech Group Plc stock A Buy?

Made Tech Group Plc 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: 0.000 Hold/Accumulate Upgraded

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 Made Tech Group Plc of Monday, July 1, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.