Modern Times Group Mtg AB Stock Forecast
Modern Times Group Mtg AB stock upgraded from Hold/Accumulate to Buy Candidate after Thursday trading session.
(Updated on Apr 18, 2024)
The Modern Times Group Mtg AB stock price fell by -1.34% on the last day (Thursday, 18th Apr 2024) from kr89.85 to kr88.65. During the last trading day the stock fluctuated 3.27% from a day low at kr87.15 to a day high of kr90.00. The price has risen in 6 of the last 10 days and is up by 5.29% over the past 2 weeks. Volume has increased on the last day by 23 thousand 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, 194 thousand shares were bought and sold for approximately kr17.16 million.
The stock lies in the upper part of a wide and strong rising 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 kr89.99 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 10.60% during the next 3 months and, with a 90% probability hold a price between kr83.90 and kr99.53 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
MTG-B.ST Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Wednesday, April 17, 2024, and so far it has fallen -1.34%. 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). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. The Modern Times Group Mtg AB stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at kr87.48 and kr79.53. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for Modern Times Group Mtg AB stock
Modern Times Group Mtg AB finds support from accumulated volume at kr87.25 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 kr2.85 between high and low, or 3.27%. For the last week, the stock has had daily average volatility of 3.19%.
Our recommended stop-loss: kr85.97 (-3.03%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (MTG-B.ST) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Modern Times Group Mtg AB to open at kr88.60, and during the day (based on 14 day Average True Range), to move between kr86.15 and kr91.15, which gives a possible trading interval of +/-kr2.50 (+/-2.82%) up or down from last closing price. If Modern Times Group Mtg AB takes out the full calculated possible swing range there will be an estimated 5.65% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at kr89.85 (1.35%) than the support at kr87.25 (1.58%), 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.
Earnings coming up
Modern Times Group Mtg AB will release earnings BMO on Wednesday, April 24, 2024. We will update the financials statements for Modern Times Group Mtg AB, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 9.53% in the first trading day after earnings release.
Is Modern Times Group Mtg AB stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Modern Times Group Mtg AB stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.967 Buy Candidate Upgraded
Predicted Opening Price for Modern Times Group Mtg AB of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| kr88.60 ( 0.0564%) | kr88.65 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MTG-B.ST
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 91.45 | 3.16 % | |
| R2 | 90.36 | 1.93 % | ||
| R1 | 89.69 | 1.17 % | ||
| Current price: | 88.65 | |||
| Support | S1 | 87.51 | -1.28 % | |
| S2 | 86.84 | -2.04 % | ||
| S3 | 85.75 | -3.27 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 89.85 | 1.35 % | ||
| Current price | 88.65 | |||
| Support | S1 | 87.25 | -1.58% | |
| S2 | 75.65 | -14.66% | ||
| S3 | 73.95 | -16.58% |
MTG-B Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 01, 2022 | Jul 01, 2022 | Jul 01, 2022 | kr25.00 | 29.71% |
| 2 | Jun 14, 2022 | Jun 14, 2022 | Jun 14, 2022 | kr25.00 | 30.51% |
| 3 | May 23, 2018 | May 23, 2018 | May 23, 2018 | kr11.05 | 8.87% |
| 4 | May 10, 2017 | May 10, 2017 | May 10, 2017 | kr10.61 | 10.71% |
| 5 | May 25, 2016 | May 25, 2016 | May 25, 2016 | kr10.17 | 12.51% |
FAQ
Click here for our free guide on how to buy Modern Times Group Mtg AB Stock.
