Modern Times Group Mtg AB Stock Forecast
Modern Times Group Mtg AB stock downgraded from Strong Buy Candidate to Buy Candidate after Tuesday trading session.
(Updated on Apr 30, 2024)
The Modern Times Group Mtg AB stock price gained 0.211% on the last trading day (Tuesday, 30th Apr 2024), rising from kr94.75 to kr94.95. 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 2.19% from a day low at kr93.40 to a day high of kr95.45. The price has risen in 6 of the last 10 days and is up by 7.23% over the past 2 weeks. Volume fell on the last day by -156 thousand shares and in total, 144 thousand shares were bought and sold for approximately kr13.64 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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 kr97.63 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 20.86% during the next 3 months and, with a 90% probability hold a price between kr99.28 and kr117.99 at the end of this 3-month period.
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MTG-B.ST Signals & Forecast
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 kr91.78 and kr83.69. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, March 04, 2024, and so far it has risen 32.70%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Modern Times Group Mtg AB stock
Modern Times Group Mtg AB finds support from accumulated volume at kr93.10 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 kr2.05 between high and low, or 2.19%. For the last week, the stock has had daily average volatility of 5.19%.
Our recommended stop-loss: kr92.04 (-3.06%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 39 days ago.)
Trading Expectations (MTG-B.ST) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Modern Times Group Mtg AB to open at kr94.60, and during the day (based on 14 day Average True Range), to move between kr91.64 and kr98.26, which gives a possible trading interval of +/-kr3.31 (+/-3.49%) 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 6.98% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ kr93.10, some kr1.85 (1.95%) from the current price of kr94.95, our system finds the risk reward attractive.
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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 3.914 Buy Candidate Downgraded
Predicted Opening Price for Modern Times Group Mtg AB of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| kr94.60 ( 0.369%) | kr94.95 |
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 | 96.65 | 1.79 % | |
| R2 | 95.87 | 0.97 % | ||
| R1 | 95.38 | 0.456 % | ||
| Current price: | 94.95 | |||
| Support | S1 | 93.82 | -1.19 % | |
| S2 | 93.33 | -1.70 % | ||
| S3 | 92.55 | -2.53 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 94.95 | |||
| Support | S1 | 93.10 | -1.95% | |
| S2 | 75.65 | -20.33% | ||
| S3 | 73.95 | -22.12% |
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
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